France-based Power Z, a video game startup, announced that it raised USD 8.3 Million (EUR 7 Million), including USD 1.2 Million (EUR 1 Million) in a debt funding round on 09.July.21. The startup is a mixture of video games and edtech startups.
The investors in this round were RAISE Ventures, Bayard, and Bpifrance Digital Ventures. The existing investors Hachette Livres, Educapital, Michael Benabou, and Pierre Kosciusko-Morizet also participated in this round.
In February, PowerZ launched the first version of its computer game. It doesn’t have a lot of content, at that time. The startup was aiming to start as quickly as possible. It focuses on children who are six years old and more. PowerZ teleports the player into a fantasy world with cute dragons and magic spells.
“The idea is really to build a sort of Harry Potter,” co-founder and CEO. “You have this world that is super nice and very interesting. Like with Hogwarts, you want to come back regularly, and the story will progress over a very long time.”
About Power Z:
PowerZ was initiated by Arnaud Lamy, Emmanuel Freund, and Yann Carron de la Carrière, having its headquarter in Paris, Ile-de-France, France. The startup wants to partner with different game studios. They are developing a new game that makes users learn new stuff. Opal games, ArkRep and Zero Games are the first third-party studios to contribute to the startup.
“Basically we want to position ourselves as a publisher,” Freund said. “The only thing we want to keep in-house is the main storyline. The game is completely free right now. We have an idea to monetize it. We’ll copy every other game with in-app purchases for visual items,” – Emmanuel Freund.
“If we just say that screens are bad, we’ll end up with an Amazon product to learn math. I feel a sense of urgency to develop an educational platform for screens that can scale,”- he added.
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