Looking to become the meme-based social network of the gaming world Medal.tv raises $9 million – gpgmail


When Medal.tv first launched on the scene, the company was an upstart trying to be the social network for the gaming generation.

Since its debut in February, the clipping and messaging service for gamers has amassed 5 million total users with hundreds of thousands of daily active users. And now it has a $9 million new investment from firms led by Horizons Ventures, the venture capital fund established by Hong Kong multi-billionaire Li Kashing.

“We’re seeing sharing of short-form video emerge as a means of self-expression and entertainment for the current generation. We believe Medal’s platform will be a foundation for interactive social experiences beyond what you can find in a game,” says Jonathan Tam, an investor with Horizons Ventures .

Medal sees potential both in its social network and in the ability for game developers to use the platform as a marketing and discovery tool for the gaming audience.

“Friends are the main driver of game discovery, and game developers benefit from shareable games as a result. Medal.tv is trying to enable that without the complexity of streaming,” says Matteo Vallone, the former head of Google Play games in Europe and an angel investor in Medal.

It’s a platform that saw investors willing to fork over as much as $20 million for the company, according to chief executive Pim DeWitte. “There are still too many risks involved to take capital like that,” DeWitte says.

Instead the $9 million from Horizons, and previous investors like Makers Fund will be used to steadily grow the business.

“At Medal, we believe the next big social platform will emerge in gaming, perhaps built on top of short-form content, partially as a result of gaming publishers trying to build their own isolated gaming stores and systems,” said DeWitte, in a statement. “That drives social fragmentation in the market and brings out the need for platforms such as Medal and Discord, which unite gamers across games and platforms in a meaningful way.”

As digital gaming becomes the social medium of choice for a generation, new tools that allow consumers to share their virtual experiences will become increasingly common. This phenomenon will only accelerate as more events like the Marshmello concert in Fortnite become the norm.

“Medal has the exciting potential to enable a seamless social exchange of virtual experiences,” says Ryann Lai, an investor from Makers Fund.


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LA-based gaming company, Scopely, expands in Spain and Ireland – gpgmail


The Los Angeles-based gaming company, Scopely is expanding its geographical footprint in Spain and Ireland.

The company is building out its Barcelona offices tripling its office space and planning to significantly expand its 100-person-strong team in the city. Meanwhile, Scopely is also planning to invest heavily in expanding its strategy-focused game studio, DIGIT, in Dublin.

Scopely didn’t say how many jobs it would be adding in either location.

The company has now hit lifetime revenue of over $1 billion across its franchises and recently launched Star Trek Fleet Command” and “Looney Tunes World of Mayhem”. Scopely also has licenses to develop games for World Wrestling Entertainment and The Walking Dead franchise.

“We are thrilled to expand our European footprint to accommodate our exponential growth,” said Javier Ferreira, Co-CEO of Scopely, in a statement. “I am excited to further lean in to the Barcelona market, which has top-quality talent. The same is true in Dublin with top tech talent flocking to the area, and both offices have amassed impressive highly-specialized expertise. Our Dublin and Barcelona teams play a critical role in the Scopely journey, and we are actively hiring across both markets.”

The company also plans to double its footprint in its hometown of Los Angeles in 2020.

The company has raised more than $250 million in financing to date from investors including Greenspring Associates, Greycroft Partners, Revolution Growth, Evolution Media Partners, Highland Capital Partners, Horizons Ventures, Sands Capital Ventures, The Chernin Group, Take-Two Interactive, Kobe Bryant, Arnold Schwarzenegger, Peter Guber, Jimmy Iovine, and Brendan Iribe.


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Impossible Foods goes to the grocery store – gpgmail


After receiving approval from the Food and Drug Administration, Impossible Foods has cleared the last regulatory hurdle it faced to rolling out in grocery stores.

The company is targeting a September release of Impossible products on grocery store shelves, joining its competitor Beyond Meat on grocery store shelves.

The news comes as the company said it inked a major supply agreement with the OSI Group, a food processing company to increase the availability of its Impossible Burger.

Impossible Foods has been facing shortages of its product, which it can’t make fast enough to meet growing customer demand.

The supply constraints have been especially acute as the company inks more deals with fast food vendors like Burger King, White Castle, and Qdoba to supply its Impossible protein patty and ground meal to a growing number of outlets.

Impossible Foods products are now served in over 10,000 locations around the world.

Earlier this year, the company hired Dennis Woodside and Sheetal Shah to scale up its manufacturing operations and help manage its growth into international markets. The company began selling its product in Singapore earlier this summer.

May not only saw new executives joining the Impossible team, but a new capital infusion as well. Impossible Foods picked up $300 million in financing from investors including Khosla Ventures, Bill Gates, Google Ventures, Horizons Ventures, UBS, Viking Global Investors, Temasek, Sailing Capital, and Open Philanthropy Project.

With the new FDA approval, Impossible Foods will now be able to go head to head with its chief rival, Beyond Meat. The regulatory approval will also help to dispel questions that have swirled around the safety of its innovative soy leghemoglobin that have persisted since the company began its expansion across the U.S.

Last July, the company received a no-questions letter from the FDA, which confirmed that the company’s heme was safe to eat, according to a panel of food-safety experts.

The remaining obstacle for the company, was whether or not the company’s “heme” could be considered a color additive. That approval — the use of heme as a color additive — is what the FDA announced today.

“We’ve been engaging with the FDA for half a decade to ensure that we are completely compliant with all food-safety regulations—for the Impossible Burger and for future products and sales channels,” said Impossible Foods Chief Legal Officer Dana Wagner. “We have deep respect for the FDA as champion of US food safety, and we’ve always gone above and beyond to comply with every food-safety regulation and to provide maximum transparency about our ingredients so that our customers can have 100% confidence in our product.”


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