London-based Hot Wheels game maker Hutch raises £4m from Index Ventures and Backed VC
A Silicon Roundabout star behind a hit Hot Wheels video game has zoomed off with a $5.5m (£4.3m) investment.
Hutch, which has studios in London and Brighton, raised the money from Index Ventures and Backed VC. Founded in 2011, Hutch received seed financing in 2014, via a round led by Initial Capital.
Hot Wheels: Race Off, a car game based on Mattel's colourful miniature cars, has attracted 14m players worldwide. Hutch claims it has "entertained over 100m players" to date across franchises including Smash Cops, Smash Bandits, MMX Racing and MMX Hill Climb.
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Shaun Rutland, CEO of Hutch, said: “We founded Hutch on a long-term vision that racing on mobile devices had enormous category potential. We built our studio on a thesis that we could dominate the sector, by bringing new, refreshing and compelling entertainment to the genre. We’re now firing on all-cylinders, with incredible talent, technology and IP.
"This investment is testimony to that and will allow us to accelerate our ambitions, whilst also creating a company with strong values and a culture that empowers our people to create leading-edge mobile games. We are delighted to have found partners that share our vision in Index Ventures and Backed VC, and we look forward to working together.”
Index Ventures, which has backed tech giants such as Skype, Dropbox and Deliveroo, expects Hutch to become a key player in the motorsports gaming arena.
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Ben Holmes from Index Ventures, said: "Hutch has made consistently high quality games over a number years. With this investment we are confident the company can become one of the leading developers of mobile games. The key to their success is that they are not just another mobile games developer, their passion for motorsports paired with their unique forward thinking culture, creates a special environment where pioneering mobile games are created".