Rovio is a Finland-based entertainment company best known for the Angry Birds franchise and operates a mobile gaming platform alongside other entertainment services. The company received €25 million in financing from the European Investment Bank to boost development of its platform and services. According to CrunchBase data cited in the article, Rovio has raised about $42 million in venture capital to date. The EIB loan is described as the first in a series of upcoming transactions meant to spur growth for innovative startups. The European Investment Bank and the European Commission plan to present new joint financial instruments on 12 June designed to fill a gap in growth capital for mid-size tech companies. The article notes the EIB has not traditionally been a financier for technology companies and suggests this transaction may signal increased EIB involvement in the sector. Rovio operates the Angry Birds franchise across mobile and other platforms and generates revenue from in‑game purchases and merchandise. Angry Birds is played by 40 million monthly active users, and the company reports sales of over 2 million Angry Birds plush toys. On iOS, 40% of new customers purchase the Mighty Eagle downloadable content. Rovio has grown its headcount to 50 employees in Espoo, Finland. The company plans to expand internationally across mobile, social media and other platforms, and to grow merchandising and media production partnerships. It also intends to roll out an online Angry Birds experience next summer and develop games for major consoles later in the year.

Total raised

$76M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Jun 2014