Krafton leads $11.3 million investment into Eschatology Entertainment

Cypriot game studio Eschatology Entertainment has secured $11.3 million in funding to develop an upcoming Souls-like shooter.

The investment round was led by PUBG maker Krafton, which made headlines earlier this week after purchasing Hi-Fi Rush developer Tango Gameworks.

The Korean company was joined by other investors including GEM Capital and The Games Fund, both of which co-led a $4 million investment into Eschatology when it broke cover in 2022.

Eschatology is currently a 65-person studio that operates remotely. Its development team includes veterans from Valve, Wargaming, 4A Games, Bluehole Studio and more.

The company is pitching its debut project as a triple-A narrative first-person shooter set in an apocalyptic wild west. The unnamed title is currently in active production with a finished vertical slice. Eschatology claims the latest cash injection will ensure a "timely release" while also enabling it to establish a publishing team.

Studio co-founder Fuad Kuliev said the deal represents more than straightforward "financial investment."

A "collaborative journey" for Eschatology and Krafton

"It's a collaborative journey that allows us to fully immerse ourselves in creating a world rich in atmosphere, history, and tough challenges. With the support of our new partner, Krafton, and the ongoing teamwork with old friends GEM Capital and The Games Fund, we now have all the resources needed to bring our ambitious vision to life," said Kuliev.

"It is not only an opportunity to finish a unique, strong product. It is important for us to narrate this incredible story through different games, opening with an alternative apocalyptic Wild West setting."

Krafton VP and head of corporate development, Maria Park, said the company is excited to support the studio and its "innovative ideas."

"This is at the very heart of what Krafton's 'Scale-Up-the Creative; strategy is all about—finding the best talent in gaming and working with them to bring their creativity to the whole world," she added.