Interactive Project, an Italian start-up developing online managerial motor games, announced yestarday to have raised €400k by a group of investors led by LVenture. The startup, which successfully completed the incubation period at EnLabs (a private held Italian incubator), will use the proceeds to finance the international expansion of MyGPTeam, its first managerial browser-based game inspired by Formula 1.
“The rapid adoption of our game by international users has convinced us to speed up the internationalization”, said Matteo Palumbo, CEO of Interactive Project, “so, after having closed the first international distribution agreements, we have to accelerate the graphic development and the integration of features that will make it easier for us to address the Asian markets”.
“MyGPTeam clearly showed to be an extremely engaging game,” said Luigi Capello, CEO of LVenture that invested also in the micro-seed round, “convincing us of the opportunity to invest in a team which demonstrates an uncommon ability to scale at the international level”. Use of proceeds will enable Interactive Project to reach over 100.000 international subscribers by June 2013.
