Singapore-Based Indie Game Publisher The Iterative Collective Raises $1.2 Million in Seed Funding to Empower Game Developers

The Iterative Collective (TIC), a Singapore-based indie game publisher, has raised $1.2 million in seed funding to expand its publishing and marketing capabilities. The seed round was led by Cocoon Capital and prominent business angels, and the funds will be used to empower game developers to create successful titles.

With game engines such as Unity and Unreal Engine making it easier for independent developers to create high-quality games, the global PC and console gaming markets are expected to reach a combined revenue of $10412 billion by 2026. However, commercial success is not guaranteed, with over 50% of self-published PC games generating a lifetime revenue of less than $4,000, posing a significant challenge for independent studios.

TIC is addressing this issue head-on by building 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 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 and have firsthand experience with 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 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 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 CEO 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.”

TIC will showcase its current and upcoming games at PAX East 2023 in Boston, USA, from March 23rd to 26th, allowing attendees to experience the exciting and diverse lineup of TIC’s games.

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