Web3 gaming startup GFAL raises $3.2 million from Supercell, Mitch Lasky

Web3 gaming startup GFAL has closed a $3.2 million seed funding round with investors including Supercell and Mitch Lasky. This builds on $4.4 million GFAL raised in 2023 from token presales.

According to the announcement, the funding will expand GFAL’s team and accelerate production plans, building on the soft launch of the mobile game Elemental Raiders in March 2023.

“We are incredibly grateful for the confidence that Supercell, Mitch, and Heinrich have placed in GFAL,” said Manel Sort, CEO of GFAL. “Working on a project alongside Trip and Ilkka, with whom I shared many thrilling and successful years at Digital Chocolate, is a dream come true, and I can’t wait to show the world the high caliber of games we are building.”

GFAL, also known as Games for a Living, aims to build innovative, engaging endless gaming through new genres and models. The project’s team includes leadership from King Entertainment, Activision Blizzard, EA, Netflix, and Digital Chocolate.

Its token GFAL is up 361% since its launch on March 13, 2023, with a fully diluted valuation of $265 million.

“I’ve had the pleasure of working together with the team earlier in my career,” said Ilkka Paananen, CEO of Supercell, said. “We are excited to be part of their journey and see all the great things they’ll achieve.”

Other investors included former ESL Co-Managing Director Heinrich Zetlmayer, Bonduc Bioscience, BCNBCNLVC and Sandsoft CEO David Fernandez.