Cold River Games secures $2M to develop Crystalfall, an ARPG set in a steampunk world

Cold River Games, a Swedish game studio, has closed a $2 million investment round to develop its game Crystalfall. The round was backed by Beam Investments, Partnerinvest Norr, CoinFund, Avalanche Foundation and A100X, Kaupr reports.

About Cold River Games

• Cold River Games (CRG), previously known as Crypto Rogue Games, is a game development studio founded in 2021 by CEO Åke André and Creative Director Daniil Sanders, based in Umeå, Sweden. The team has experience from working on award-winning game titles such as Path of Exile, Stellaris and Pillars of Eternity. 

• With a focus on item progression and theorycrafting, their upcoming game Crystalfall is an old-school ARPG set in a steampunk world where you play as mutated hybrids with steampunk weapons. Crystalfall is planned to be launched by the end of 2025.

“Crystalfall is not just a new ARPG, it’s a bold bet on where the future of gaming is headed. The Cold River Games team has the experience, vision and execution capabilities to break through not only in web3, but in the entire gaming industry. At Avalanche, we support developers who raise the bar, and this team is doing just that,” says Parker Heath, Game Director at the Avalanche Foundation.

Investment details

The round was backed by Beam Investments, Partnerinvest Norr, CoinFund, Avalanche Foundation and A100X.

The capital will be used to put the finishing touches on the company’s latest game, which will increase security for players online.