Moon Beast Productions Secures $4.5M in Seed Funding

Moon Beast Productions recently announced they’ve secured a robust $4.5 million in seed funding. Leading the investment charge was 1AM Gaming, while 1UP Ventures, The Mini Fund, Overwolf, Versus Ventures, along with several angel investors, also chipped in.

This financial boost is earmarked for the development of a new, groundbreaking action RPG. The studio aims to “challenge conventional design paradigms” with this upcoming title, signaling an exciting direction for their creative endeavors.

Founded in March 2022, Moon Beast was the brainchild of industry veterans and former Diablo 2 team members, Peter Hu and Phil Shenk. In a strategic move last year, Erich Schaefer, a co-creator of Diablo 2, came on board as the chief creative officer, bringing even more expertise to the table.

“In today’s tough funding environment, we’re incredibly fortunate to have investors who grasp our vision,” expressed president and co-founder Peter Hu. He elaborated on their strategy, noting, “Our approach has always been about working smarter, not just harder. We’re creating reusable, data-driven systems that allow us to iterate quickly and produce more with less.”

Adding to this, co-founder Phil Shenk shared his thoughts: “We’ve never been content to follow the crowd. Throughout our careers, we’ve consistently pushed to redefine genres. From laying the groundwork for ARPGs with Diablo and Diablo 2 to expanding on these concepts with projects like Hellgate: London, Torchlight, and Marvel Heroes Online, we’ve continuously sought to expand what players expect from the genre.”