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Ultimate Rivals dev Bit Fry Game Studios lands $3.5 million investment

Bit Fry Game Studios has raised $3.5 million in funding thanks to contributions from Xbox co-creator Ed Fries' 1Up Ventures and Bitkraft Esports Ventures.

Bit Fry Game Studios has raised $3.5 million in funding thanks to contributions from Xbox co-creator Ed Fries’ 1Up Ventures and Bitkraft Esports Ventures.

The cash infusion aims to help the studio support growth of its Ultimate Rivals series, a franchise that debuted late last year though the launch of Ultimate Rivals: The Rink on Apple Arcade.

The studio wants to expand the series into the competitive space and eventually to cover more sports though future titles, something helped along by the fact that it already has licensing agreements with several professional sports organizations.

That $3.5 million investment accompanies news that two new VP-level hires—Nick Caras as VP of competitive gaming strategy and Hali Oughton as VP of community and engagement—have joined the team to support Bit Fry's competitive gaming aspirations.  

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