Rightbridge Ventures Group AB (publ) (“Rightbridge” or “the Company”) has today subscribed for shares in the directed new issue in Adventure Box Technologies AB (“Adventure Box”). Rightbridge has committed to subscribe for 9,375,000 shares at a subscription price of 0.16 SEK, amounting to 1.5 MSEK. After the transaction, Rightbridge's ownership in Adventure Box amounts to approximately 19.3%. The consideration is paid in cash following the completion of Rightbridge's previously announced issue.
Adventure Box with its online platform KoGaMa offers user-friendly tools for creating and sharing unique gaming experiences. With its innovative multiplayer editor, KoGaMa enables users to collaborate, create, and customize content in a dynamic social metaverse. The company's world-leading streaming technology is patent-protected.
The KoGaMa platform has approximately 750,000 monthly active users, with some games having over 50 million plays and over 40,000 games created by users. The platform generates revenue through advertising sales, in-game purchases, and other partnerships.
“The investment in Adventure Box and KoGaMa is more than just a financial investment, it is the beginning and an important step in our shift of focus as we have previously communicated. We are in dialogue with Adventure Box for future collaborations and partnerships,” says Claes Kalborg, newly appointed CEO of Rightbridge Ventures.
He continues, “We see several synergies between our previously announced collaboration with CF Entertainment, Crazy Frog, and Adventure Box. Here we can see the beginning of an ecosystem where Crazy Frog, with 14 million subscribers on YouTube and 4 million daily views on the channel, can potentially drive traffic to the KoGaMa platform. "We can let users create environments where they can access assets from Crazy Frog and create worlds and games to share with each other”.
The collaboration between CF Entertainment and Rigthbridge Ventures means that Rightbridge has exclusive rights to find partnerships and develop concepts within gaming and web3, and the investment in Adventure Box is a first small step in this collaboration.
For further information contact:
Claes Kalborg, CEO Rightbridge Ventures Group, phone +46 73 – 444 55 07
This information is such information that RightBridge Ventures Group AB (publ) is obliged to disclose according to the EU’s Market Abuse Regulation. The information was provided, through the above contact person's agency, for publication on 2023-12-07 08.35.
RightBridge Ventures is a compounder and investment company based in Stockholm (Sweden) dedicated to investing in companies that shape the future of esports and gaming as part of the digital media and entertainment industry. For more information visit www.rightbridge.se or get updates by following us on LinkedIn.
RightBridge Ventures Group AB (publ)'s shares are traded on the Nasdaq First North Growth Market and Amudova AB is a Certified Adviser.