Singapore-based indie game publisher The IterativeCollective (TIC) announced Friday that it has raised $1.2 million in a seed round led by Cocoon Capital and prominent business angels.

TIC said in a statement that it will use the funds to expand its publishing and marketing capabilities to empower game developers to create successful titles.

“We are incredibly grateful for the unwavering support our investors have shown in The Iterative Collective and our mission to provide independent game studios with the support and resources they need to thrive,” said TIC Chief Executive Officer and Co-Founder Matthew Quek.

“As we continue to grow and expand our reach, we remain committed to fostering talent and building successful, sustainable studios,

“With our investors’ additional support and funding, we are even better positioned to achieve our goals and positively impact the indie game development community,” he added.

The Iterative Collective is an indie game publisher founded by game developers who set out to tackle the problems faced by indie developers in the games industry.

With an experienced core team and a network of industry veteran mentors, The Iterative Collective provides a holistic and structured approach to incubating and publishing independent games, ensuring that game development studio partners produce games of a world-class standard.

According to the statement, game engines like Unity and Unreal Engine have made it easier for independent developers to create high-quality games today.

Cited a recent report, it said the global personal computer (PC) and console gaming markets are expected to reach a combined revenue of $104 billion by 2026.

However, despite the ease of game development, it said commercial success is not guaranteed.

In fact, over 50 percent of self-published PC games generate a lifetime revenue of less than $4,000, which poses a significant challenge for independent studios.

TIC is addressing this issue head-on. Since its launch in 2020, TIC has built a thriving ecosystem for independent game studios that consistently produce successful games.

By providing talented developers with resources and support, TIC helps them turn their creative game concepts into profitable businesses.

TIC’s debut game, The Signal State, has become a cult classic and has proven to be a commercial success with thousands of paying players.

TIC’s Founders Matthew Quek and Haskel Chua are passionate about supporting independent game studios, having experienced firsthand the challenges they face in securing the resources they need to succeed.

Quek brings a deep understanding of technical game development and distribution gained from his years as Senior Research and Development (R&D) Engineer at Virtuos and Director of Technology at Epicsoft Asia.

Meanwhile, Chua brings valuable experience from his successful career at JoyDash where he was credited with successfully launching two games, and from leading his own game development studio, PseudoPixels.

“We’re thrilled to partner with The Iterative Collective and back their exciting vision for the indie game publishing industry,” said Michael Blakey, Managing Partner of Cocoon Capital.

“With their highly experienced team and innovative approach, we have great confidence in their ability to disrupt the market and launch fun, unique games that capture players’

“The Iterative Collective’s approach has the potential to revolutionize the industry and we’re excited to support them as they bring their vision to life,” he added.

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