Bitmagic has secured $4 million in funding to further its initiative of using generative AI, enabling consumers to build 3D games from text prompts.
The company, based in Helsinki, Finland, has also announced that its Bitmagic platform is now publicly available on Steam Playtest. This development highlights Bitmagic’s commitment to democratizing game development through its innovative text-to-game platform, allowing anyone to create fully playable multiplayer games in seconds by simply describing their desired game scenario.
Korea Investment Partners (KIP), South Korea's largest venture capital firm, led the funding round, with participation from Supercell, Sisu Game Ventures, and prominent angel investors, including Zak Phelps, former senior director of product design for Fortnite Creative, and Maarten De Koning, partner at DDM (Digital Development Management).
Bitmagic allows users to create engaging games like Dino-Wide.
“We are thrilled to have the support of esteemed investors and industry leaders like Zak Phelps and Maarten De Koning,” expressed Jani Penttinen, CEO of Bitmagic. “This investment will enhance our mission to make game creation accessible for everyone, unlocking new creative possibilities in the gaming industry.”
Phelps will join Bitmagic as an adviser, while De Koning will take a seat on the board.
Michael Lee, executive director at Korea Investment Partners, remarked, “We are excited to support Bitmagic. Their innovative approach and advanced use of generative AI techniques set them apart as a true game changer. After assessing competitors globally, we believe Bitmagic is significantly ahead of the curve, poised to transform the future of game development and user-generated content.”
Bitmagic's platform harnesses generative AI to turn textual descriptions into fully interactive multiplayer 3D games, removing traditional barriers to game development and empowering users of all skill levels to realize their game ideas effortlessly.
With the launch of its platform on Steam Playtest, Bitmagic invites gamers and developers to explore its breakthrough technology for free.
“We believe that providing free access will inspire a diverse community of creators and showcase the vast potential of generative AI in game development,” said Penttinen. “This is just the beginning; Bitmagic allows users to create experiences that previously only professional developers could realize.”
Founders Penttinen and Chairman Samuli Syvähuoko were pioneers of the Finnish gaming industry in the early '90s. COO Markus Kiukkonen, former head of EA Finland, brings valuable operational experience; Markus Hjort, the Tech Lead, specializes in scalable software solutions; and Jouni Mannonen, an AI specialist, co-founded Hybrid Graphics, now Nvidia's Helsinki office, a leader in advanced graphics processing and AI solutions.
Penttinen noted that Bitmagic currently employs 10 people and plans to hire three more skilled coders, aiming to maintain a team of 15 in the near future.
In terms of content sharing, Penttinen stated, “You will be able to create any game you want, but we will manage what can be shared publicly. Games created with Bitmagic cannot be exported; they are playable only through our cloud-based service, allowing us full control over distribution. If you wish to create a game inspired by your favorite movie for personal enjoyment, you can certainly do that.”
He elaborated, “We will implement AI-based IP detection when you try to share your game. If it contains unlicensed material, we will prevent sharing and offer the option to replace it with original content. Over time, we will work with IP owners to establish licensing agreements that enable sharing while ensuring that creators receive the appropriate compensation.”
Penttinen added, “Looking ahead, IP owners will likely encourage fans to develop 'fan fiction' games based on their properties as a means of generating new revenue. Disney is already moving in this direction with their deal with Epic Games, and this is just the beginning.”
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