Cloud Games Secures $5M Seed Funding Round

Sydney-based studio Qloud Games has raised $5 million in a seed funding round led by Bitkraft Ventures and GFR Fund.

The independent developer plans to use the investment to support development of its MMO Loftia. A16Z’s Andreessen Horowitz also participated in the funding, as well as 1Up Fund and Gaingels.

Qloud Games co-founders Michael Su and Martina Qin invested $500,000 into the studio, and raised $1.3 million on Kickstarter in 2024 with over 16,700 backers.

“With Loftia, we’re creating the kind of world we wish existed – one where people work together to create a brighter future,” said CEO Michael Su.

“Thanks to the support of Bitkraft, GFR Funding, A16Z, and our Kickstarter backers, we’re excited to bring Loftia to life.”

Bitkraft Ventures partner Jasper Brand added: “Michael and Martina have put everything into Loftia – investing over $500,000 of their own capital earned from a Canva ESOP, rallying a record-breaking Kickstarter, and building a 600,000 strong community before launch.

“With a successful Alpha already behind them, funding secured through launch, and a real distribution edge in the massive but undeserved cozy genre, they’re poised to bring live service, cross platform, and social play to a new generation of players – and build a world-class studio from Australia with global impact.”

Qloud Games was co-founded by Michael Su, Martina Qin, and Eric Mallon in 2022. Its team currently consists of 30 developers from indie and AAA game studios from across the globe.