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Outsourcing studio Obelisk nets $2 million to create original horror title

The studio has previously worked on notable projects including Fallout 76, Call of Duty Vanguard, and Sons of the Forest.

Chris Kerr, News Editor

January 18, 2024

2 Min Read
A man enveloped in shadow moves with sinister intent
Image via Obelisk

Outsourcing studio Obelisk is pivoting to indie development after securing $2 million in funding.

The Cypriot outfit has made a name for itself in the co-development space by working on high-profile titles like Fallout 76, Call of Duty Vanguard, Dota 2, and Sons of the Forest.

Now, it intends to hop into the trenches of first-party development after receiving a $2 million investment from specialist early stage VC firm, The Games Fund.

The cash will be used to finance its debut title, Displacement, which is billed as a psychological action-horror game that "explores the dark side of human nature." The 20-strong studio intends bolster production by hiring "top-tier developers and designers."

Obelisk co-founder and CEO Artem Dorokhin thanked The Games Fund for placing their trust in the studio.

A "true hardcore horror game"

"We're so happy to see the excitement that Displacement sparks in people when we recruit and tell them about the game we work on! They see the potential even at this early stage and share our vision that the market and players are waiting for a true hardcore horror game," he said.

"The Games Fund has placed a lot of trust and support in Obelisk. Thanks to their resources and extensive connections in the industry, we've built all the critical infrastructure, made key hires, and kickstarted the company in record time."

The Games Fund explained it backed Obelisk and by extension Displacement because it wants to support "unique and innovative gameplay experiences."

"We believe that a well-crafted AA game, one that honors and builds upon the legacy of classic horror titles with soul and grit, is a clear opportunity," said The Games Fund co-founder Ilya Eremeev. "With one of the most experienced teams in the region, ethical management practices, and exciting original IP, the Obelisk team is attracting the best talent on the market and developing an inspiring and beautiful but truly chilling horror game. 

"We are committed to continuing our support and investment in the growing gaming industry of Cyprus, one of our key regions, ensuring that the incredibly talented game developers will not be left alone in the dark."

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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