Indian video game developer and outsourcing firm FXLabs has announced that it has secured $3 million in new funds to facilitate the company's plans for expansion, with a view to eventually "being recognized as the number one game development company in India."
According to the Indian website Business Standard, the deal entailed film production house Suresh Productions buying a 35% stake in FXLabs for the $3 million figure, and may mean that some Bollywood films developed by Suresh or noted parent company Ramanaidu Studios may be available for video game conversion.
FXLabs is already working on two titles, Inferno
for PC, due out by the end of 2006 ("an action/horror game that pits players against the denizens of the underworld"), and Archie's Riverdale Run
for PC and Xbox, due out in early 2007 ("brings the world of Archie Comics to life in full 3D for the very first time.")
Tony Garcia, CEO for FXLabs, commented of the announcement: "FXLabs Studios is thrilled to be partnering with Suresh Productions, Ramanaidu Studios, and Spirit Media. We are anxious to fully utilize the broad range of assets and talents that they bring to the table!" He continued: "By combining our strengths and talent in the field of game development, with those of Suresh Productions, FXLabs is set to deliver some of the best and most compelling game products yet seen on the PC and videogame platforms."