Series Raises $28M to Build AI-Native Game Engine
Series Entertainment, a startup aiming to redefine how video games are built through generative AI, has secured $28 million in an oversubscribed Series A funding round. The investment round, confirmed via SEC filings, marks a significant milestone for the company just one year after its inception.
The company, also referred to as Series AI, attracted high-profile backers including Netflix and Dell Technologies Capital. Existing seed investors, such as Andreessen Horowitz (a16z), BITKRAFT, and F4 Fund, also participated in the round. This fresh capital follows an initial $7.9 million seed investment led by a16z last year.
The Rho Engine: An AI-Native Approach
At the core of the startup’s strategy is the “Rho Engine,” a platform designed to serve as an AI-native, multimodal full-stack game creation tool. Unlike existing AI assistants or specialized bug-catching utilities like Modl.ai, Series positions Rho as an end-to-end solution for developers.
The platform leverages Large Language Models (LLMs) and generative AI to accelerate production cycles. By automating labor-intensive tasks—such as creating visual assets, audio, and complex NPC interactions—the company aims to enable a new level of interactivity. For instance, developers can implement characters capable of dynamic haggling or provide players with expansive, deeply customized gaming experiences.
Strategic Expansion and Leadership
Under the leadership of CEO Pany Haritatos, the company has scaled rapidly, growing from 17 employees at the beginning of 2024 to a team of over 100 professionals with backgrounds at companies like Snap, Google, Machine Zone, and Zynga.
Haritatos, a veteran of the industry with a history of building and selling studios in the Flash and mobile eras, has already begun expanding the company’s footprint. In July, Series acquired Pixelberry, the mobile game studio behind the interactive fiction title Choices: Stories You Play.
Investor Confidence
The backing of major gaming-focused firms underscores the industry’s interest in the intersection of AI and development tools:
- a16z: Investors Joshua Lu and Andrew Chen have championed the company’s potential to reinvent game development.
- BITKRAFT: Founded by eSports pioneer Jens Hilgers, the firm is one of the most active participants in the gaming space.
- F4 Fund: Led by industry veterans David Kaye and Joakim Achrén, who bring extensive experience in studio operations.
While the company has not confirmed its valuation, Pitchbook estimates suggest a post-money valuation of approximately $190 million. Regarding the successful funding during a challenging market, Haritatos stated, “We are thrilled that we raised a very successful $28 million Series A during a tough year for funding.”