Dallas-based studio Psychedelic Games has raised $3.5 million in a new funding round to support its upcoming pirate-themed 4v4 MOBA title Golden Tides. The round was led by North American esports organisation FlyQuest along with KRAFTON and Arbitrum Gaming Ventures, which will help the studio continue development and prepare for the game’s launch.
While Psychedelic Games confirmed the $3.5 million round, it did not share the detailed equity structure or the exact amount each partner invested. Therefore, it remains unclear how ownership has been divided among the investors or what valuation the studio had in this round.
In the official announcement, Psychedelic Games revealed that it chose to work with strategic partners instead of traditional venture capital firms, as each investor brings industry experience along with funding.
For FlyQuest, this is its first direct investment in a game studio. The esports organisation said it will support Golden Tides beyond funding, using its experience in esports and its network of creators to help grow the game. The esports team also recently unveiled a new initiative called Project Grassroots to support Tier 2 esports teams that often struggle to survive due to lack of funding and resources.
On the other hand, KRAFTON, known for PUBG: BATTLEGROUNDS, brings publishing experience and a track record of supporting successful global games. Whereas Arbitrum Gaming Ventures joined the round as a partner focused on backing new ideas in gaming.
Devin Richman, CEO at Psychedelic Games, said, “Golden Tides asks what a MOBA looks like when you strip away the constraints and rebuild around freedom, exploration, and the chaos of naval combat. This funding lets us bring that vision to the players, and we’re grateful for partners who see the same opportunity we do.”
“Working with KRAFTON / PUBG: BATTLEGROUNDS on this deal has been incredible,” said Mason Richman, COO of Psychedelic Games. “Their unwavering focus on creating fun, great games above everything else made the partnership feel natural from day one.”
“We believe the future of esports will be built through teams and developers working together early—starting in development, continuing through launch, and growing alongside the game as it matures,” said Brian Anderson, CEO of FlyQuest.
“We are thrilled to support a team pushing the boundaries of a fresh and compelling style of gameplay,” said Dan Peng, Partner at Arbitrum Gaming Ventures.
Golden Tides is currently in development for PC, with plans to expand to more platforms after launch. Players can also sign up for an early playtest through the game’s website.
It seems like a lot of investors and big companies are getting interested in funding MOBA games lately. One solid example is Savvy Games Group, backed by Saudi Arabia’s PIF, which recently signed a deal with ByteDance to acquire MOONTON Games, the studio behind the global MOBA hit Mobile Legends: Bang Bang (MLBB).
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