Ex-Activision veterans raise $7 million for Velan Studios game startup

Velan Studios, a game studio founded by two brothers who made big games for Activision, has raised $7 million in venture capital as it launches an effort to prototype new types of games on emerging platforms.

The amount of money suggests it’s still possible for seasoned teams to raise a big chunk of money from investors, particularly when the founders are putting in a lot of their own money. The biggest investor in the round is Velan Ventures, a fund started by Karthik and Guha Bala.