Micro-indie publisher Pantaloon closes pre-seed funding round
UK publisher Pantaloon has secured almost £150,000 ($200,000) in pre-seed funding to lay the foundations for a "bold new publishing vision."
The company, which launched a micro-indie publishing label last year to support titles with budgets of between $30,000 to $100,000, explained it will use the cash to bolster its team and continue to nurture "offbeat" projects.
Pantaloon began life as a direct-to-player newsletter designed to punt weird and wonderful indie titles into the inboxes of subscribers each month. It quickly branched out into publishing, and founder Jamin Smith hopes the cash injection will allow the company to take more risks.
"Our new shareholders are invested in our mission to take indie publishing in a different direction. Looking at the indie landscape, it's no surprise investors are cautious of publishers. It's a crowded market, and risk is baked into the model. Back the wrong horses and you're stuffed," said Smith.
"I wanted to put risk front and centre of our philosophy in an increasingly risk-shy industry. Actively seeking bolder work, and developers taking more significant creative swings."
The pre-seed has seen Pantaloon secure backing from veterans such as Markus Wilding (ex-Private Division, 2K), Fernando Rizo and Alastair Hebson (Caboodle Games), Benjamin Lavery (Trailer Farm) and Steven Yau (ex-King, Playfish).
It also cements a partnership between Pantaloon and backend technology platform LootLocker. Both companies will now work together to develop a bespoke publishing platform capable of powering direct-to-consumer initiatives.
