Moon Beast Productions recently secured an impressive $4.5 million in seed funding. Leading the investment round was 1AM Gaming, with contributions from 1UP Ventures, The Mini Fund, Overwolf, Versus Ventures, and several angel investors. This influx of capital is earmarked for the creation of a groundbreaking action RPG, described by the studio as one that will “challenge conventional design paradigms.”
Established in March 2022, Moon Beast was co-founded by seasoned industry veterans Peter Hu and Phil Shenk, both of whom were integral to the Diablo 2 team. Erich Schaefer, a co-creator of Diablo 2, came on board the following year, taking on the role of chief creative officer.
In light of securing the funding, Hu expressed gratitude and optimism, stating, “In today’s challenging funding environment, we’re incredibly fortunate to have investors who understand our vision.” He emphasized Moon Beast’s innovative approach, explaining, “Our approach has always been about working smarter, not just harder. We’re building reusable, data-driven systems that allow us to iterate rapidly and create more with less.”
Shenk also highlighted their commitment to innovation and genre-defying work, saying, “We’ve never been content to follow the crowd. Throughout our careers, we’ve always pushed to redefine genres. We were there at the start, helping to invent ARPGs with Diablo and Diablo 2. In the years following, from Hellgate: London to Torchlight, and Marvel Heroes Online, we’ve consistently sought to expand what players expect from the genre.”
