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Cyprus-based Obelisk Studio has secured $2 million from The Games Fund to fuel its transition from supporting triple-A franchises into developing its own original IP.

Obelisk’s first project in development is Displacement, a psychological action-horror game. The title will feature intense melee combat and explore the dark side of human nature in isolation.

“We’re so happy to see the excitement that ‘Displacement’ sparks in people when we recruit and tell them about the game we work on! They see the potential even at this early stage and share our vision that the market and players are waiting for a true hardcore horror game,” said Artem Dorokhin, cofounder and CEO of Obelisk Studio. “The Games Fund has placed a lot of trust and support in Obelisk. Thanks to their resources and extensive connections in the industry, we’ve built all the critical infrastructure, made key hires, and kickstarted the company in record time.” 

Obelisk’s strategic shift

This new investment marks a strategic shift for Obelisk Studio. Unlike other game development startups, Obelisk Studio has over a decade of experience collaborating on major gaming franchises. These includes iconic franchises like Call of Duty, Dota 2, Fallout 76, New World, and most recently Sons of the Forest.

“We believe that a well-crafted AA game, one that honors and builds upon the legacy of classic horror titles with soul and grit, is a clear opportunity. With one of the most experienced teams in the region, ethical management practices, and exciting original IP, the Obelisk team is attracting the best talent on the market and developing an inspiring and beautiful but truly chilling horror game,” said Ilya Eremeev, cofounder and managing partner of The Games Fund. “We are committed to continuing our support and investment in the growing gaming industry of Cyprus, one of our key regions, ensuring that the incredibly talented game developers will not be left alone in the dark.” 

This $2 million investment is part of The Games Fund’s inaugural $50 million fund. It plans to deploy its capital in gaming companies and founders from emerging markets in central and eastern Europe. Obelisk Studio joins KEK Entertainment, Jarvi Games and Red Rover Interactive in The Game Fund’s portfolio.

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