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Monday, April 28, 2008

Akoha Secures $1.9 Million Financing From Angel Investors

Montreal-based Akoha, developer for an as-yet unannounced social game, has received $1.9 million in financing from angel investors delivered in early 2007 and early 2008.

Akoha’s social game is reportedly inspired by elements of “social entrepreneurship, massively multiplayer and reality-based games.” Development began on the project after a conversation between Akoha founders Austin Hill and Alex Eberts at a TED (Technology, Entertainment, Design) Conference in Monterey. The two discussed game design, social change, and internet trends before asking aloud, “What if playing a game could make the world a better place?”

Akoha CEO and co-founder Austin Hill was previously president of Zero-Knowledge Systems (Now Radialpoint), a privacy service provider where Hill helped raise $70 million in venture capital. Alex Eberts served as product manager and vice president of development at Zero Knowledge Systems before founding Redwing Technology, a software design and consulting company, and working as a video game producer at Ubisoft.

Said Austin Hill: “We’re delighted that our investors share our belief in this opportunity to bring fresh ideas to the gaming world. This investment and the support of our incredible angels has allowed us to do some innovative product development and will support the company while we launch and build our community of players into 2009.”

Specific details on Akoha’s project will not be disclosed until the game is available to the public in fall 2008. Akoha is accepting requests to join beta testing at its website.

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Posted by Eric Caoili on April 28, 2008 12:39 PM |

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