The team at Cold River Games in Sweden. Source: Cold River Games
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Cold River Games raises $2M for free-to-play ARPG Crystalfall

Swedish studio Cold River Games has raised $2 million for its free-to-play action role-playing game Crystalfall.

Beam Investments led the round, with more investment from Partnerinvest Norr, CoinFund, Avalanche Foundation, and A100X. Cold River Games plans to release its game, which may have Web3 elements, on Steam on the PC in 2025.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.