Jumpgate announces the successful financing of the new project by its Hamburg-based subsidiary Tivola. The budget of SEK 19 million, approximately €1.8 million, comes from publishing partner Trophy Games and federal funding from Germany.
This is the project that Jumpgate first mentioned in December. At that time, it was announced that a new development contract had been signed with a mobile games publisher for a project being developed by Tivola Games. Jumpgate has now provided further details. The contractual partner is the Danish publisher Trophy Games. This is not the first collaboration between the two companies. Trophy Games is the publisher of Cat Rescue Story and HorseWorld Show Jumping, among others, both of which were developed by Tivola.
No details about the content of the new joint project have been released. However, Søren Gleie, CEO of Trophy Games, said: "The horse game niche has a deeply passionate and dedicated audience and combining Tivola's development expertise with our publishing capabilities is a perfect strategic fit. The support from the German public funding program makes this a highly attractive financial proposition, allowing us to deliver a high-quality game while maintaining a strong risk-reward balance for our investors.”
Indeed, Jumpgate has announced that financing for the project, which has a production time of 15 months, has been finalised. The total cost is expected to be 19 million SEK. At the current exchange rate, that is around 1.78 million euros. 10.5 million SEK will be provided by Trophy Games, while 8.5 million SEK, just under 800,000 euros, will come from German federal funding for games.
“It´s great to be able to announce that we have finalized the external financing for this new project. We are pleased to add another exciting project to the pipeline after the successful recent launch of Star Trek: Voyager – Across the Unknown and look forward to working with Trophy Games. We are also grateful for the continued support from the German public funding program, which allows us to maintain a significant upside in the project while covering the development costs through external funding. More information about the project will be released in due time”, says Florian Bohn, CFO/COO Jumpgate AB and MD Tivola Games.
