Lucky’s Tale developer Playful raises $25M to fund its virtual reality development

Investors are looking ahead, and they like what they see from one of the first companies highly focused on producing original virtual-reality games.

Playful Corp., the studio responsible for the 3D VR platformer Lucky’s Tale for the Oculus Rift, has raised $25 million in its latest funding round, it announced today. The studio would only say that the money is coming from a “group of private investors.” Playful says it will use this influx of capital to redouble its development efforts. The company wants to create more games like Lucky’s Tale, which is an original property designed specifically for a cutting-edge platform like VR. With HTC Vive, Oculus Rift, and PlayStation VR all launching within the next 12 months, early standout software has a good chance of helping to define what VR gaming will mean — and Playful now has the backing to potentially build those experiences.