Series AI Secures $28M to Revolutionize Game Development with Generative AI
A Quiet Powerhouse in AI-Driven Gaming
Gaming industry veteran Pany Haritatos has made waves with his startup Series Entertainment (also known as Series AI), which recently closed an oversubscribed $28 million Series A round. Backed by heavyweights like Netflix, Dell Technologies Capital, Andreessen Horowitz (a16z), BITKRAFT, and F4 Fund, the company is poised to transform game development through generative AI.
From Seed to Series A: Rapid Growth
- Seed Round (2023): $7.9 million led by a16z
- Series A (2024): $28 million with participation from top-tier investors
- Valuation: Estimated at $190 million post-money (per PitchBook)
In just one year, Series has expanded from 17 to over 100 employees, drawing talent from Zynga, Machine Zone, Google, and Snap. The company also acquired mobile game studio Pixelberry (creator of Choices: Stories You Play) in July 2024.
The Vision: AI-Powered Game Creation
Series aims to become the next Unity—but with a generative AI twist. Its flagship product, the Rho Engine, is billed as the first AI-native, multimodal full-stack game development platform, handling everything from visuals to audio.
How Rho Engine Stands Out
- Compe*****s: Modl.ai (bug testing) and Unity’s Muse Chat (AI assistant) focus on narrower use cases.
- Rho’s Edge: Designed for end-to-end game creation, enabling developers to:
- Generate characters, items, and environments using AI
- Create dynamic NPCs with advanced interactivity (e.g., haggling with players)
- Offer near-unlimited customization options
Why Investors Are Betting Big
Pany Haritatos: A Track Record of Innovation
Haritatos’ career reads like a playbook for gaming success:
- Built and sold a browser-game studio to Zynga during the Flash era
- Founded a mobile game studio acquired by Kongregate (where he later became CEO)
- Led Snap’s games group, pioneering AR and embedded gaming
All-Star Investor Lineup
- a16z: Called Series “a game studio reinventing the future with generative AI” in a blog post.
- BITKRAFT: Backed by esports pioneer Jens Hilgers (co-founder of ESL/G2 Esports).
- F4 Fund: Run by serial game studio founders David Kaye and Joakim Achrén.
The Bigger Picture: AI’s Role in Gaming
While debates rage about AI’s broader societal impact, gaming is a proven testing ground for generative tools. AI can:
- Accelerate development by automating asset creation
- Enhance player immersion through responsive NPCs and dynamic worlds
- Lower barriers for indie developers
A Statement from Haritatos
Though declining an interview, Haritatos shared via email:
“We are thrilled to raise $28M in a tough funding climate. Our investors’ support validates our mission to redefine game development with AI.”
What’s Next for Series?
With fresh capital and industry momentum, Series is positioned to push the boundaries of AI-native game engines. Whether it can dethrone incumbents like Unity remains to be seen—but for now, the startup has the team, tech, and backing to make a serious play.
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