Moon Beast Productions Secures $4.5M in Seed Funding

Moon Beast Productions has successfully secured $4.5 million in seed funding. Leading this investment round was 1AM Gaming, with contributions from 1UP Ventures, The Mini Fund, Overwolf, and Versus Ventures, along with several angel investors.

The studio has expressed that this influx of cash will be directed towards the development of a new and groundbreaking action RPG. Their aim? To shake up old design norms and create something truly revolutionary.

Founded in March 2022, Moon Beast emerged from the vision of two seasoned veterans from the Diablo 2 team: Peter Hu and Phil Shenk. Adding more star power to the team, Diablo 2 co-creator Erich Schaefer joined the fold the following year, stepping in as the chief creative officer.

“In today’s tough funding landscape, we’re extremely lucky to have investors who get what we’re trying to achieve,” remarked Hu, the president and co-founder. He went on, “Our method has always been about smarter work, not just harder. We’re all about crafting reusable, data-driven systems, which enable us to iterate quickly and achieve more with less.”

Phil Shenk chimed in with his thoughts: “We’ve never settled for merely following the crowd. Throughout our careers, pushing the limits of game genres has been our passion. From the early days of crafting ARPGs with Diablo and Diablo 2, to projects like Hellgate: London, Torchlight, and Marvel Heroes Online, we’ve persistently aimed to broaden the expectations of players in this genre.”