Retro gaming start-up, Antstream Arcade, has become the next promising company to receive funding from publishing giant, Tencent. While details of the investment are currently still under wraps, Antstream Arcade embarked on their very first Series A funding round to attract the attention, leading to substantial funding not only from Tencent but from UK-based company, Hambro Perks. Here’s what we know.
Who is Tencent?
While they may have started on humble ground back in 1998, Tencent has grown to become one of the largest tech conglomerates in the world today. The Chinese company boast their position as industry leaders, promising innovation, user-oriented business and a goal to provide platforms and services that connect everything. They operate in a number of industries, including games, videos, animation, comics, literature, films and news, with leading titles to their name such as PUBG, Honor of Kings and more.
Alongside their industry investments, the company are developing a focus on providing seamless financial solutions through mobile payments that can help with smart technology. With positions in such a wide variety of industries, you may be wondering where – or rather why – Antstream Arcade comes in.
Tencent has expressed interest in delving into the streaming industry, and so their move to invest in the Antstream Arcade has certainly gone some way to ensure that this is the case. The investment also compliments Tencent’s own games streaming service, offering them a stronger holding in a rapidly growing industry.
What Is Antstream Arcade?
Antstream Arcade is a retro gaming streaming service that allows users to access a significant number of games, all in one place. The app removes the need to download the games, and that there are up to 2,000 games available to be played across all of your devices. Despite questions regarding whether the subscription service was worth the cost, given that retro games (in every shape and form from board games to slots and multi-player) are often available for free across the web, their initial Kickstarter funding round in April this year saw significant success. They raised an incredible £70,301, but this appears to be a small number compared to the most recent funding round. Antstream followed the lead of not only online gaming industries such as casinos, but also the likes of Nintendo, PS4 and Xbox, all of whom have started to offer streaming and subscription services.
Tencent’s investment has driven the streaming service into the limelight and while they only soft-launched in Europe earlier this month, they have boasted plans to reach the USA by the end of 2019.
What We Know About The Investment
The details of Tencent’s investment are few and far between, with the only hint towards a figure being that it was “substantial”. The support, monetary investment and resulting publicity have each showcased their potential to become a global company in the coming months and years. CEO of Antstream Arcade, Steve Cottam, commented
:“We are truly privileged that Tencent recognised our potential by investing so early in our journey… The company is synonymous with gaming and we are proud to be part of its family”
“Tencent has given us an incredible endorsement of our plans at Antstream Arcade, and we are delighted to lean on the support of its teams as well as Hambro Perks to bring the joy of retro gaming to modern devices and new audiences.”
Currently available on Mac, PC, Xbox One, mobile devices and tablets, Antstream Arcade follows the likes of Netflix, Amazon Prime, Hulu and more in the streaming industry, but with a playable twist. They offer leaderboards and challenges to enhance the retro gaming experience, all while keeping the air of nostalgia that fans love so much.
The investment has offered them the support and a platform to reach wider audiences, and only time will tell as to just how far the company can go.