Gigantic Overview
Gigantic develops mobile arcade games connected to physical counterparts, with players controlling real machines through the use of mobile apps. Gigantic was founded with the aim of creating innovative, high-quality entertainment by connecting physical objects to virtual games. The companys first game, Clawee, features real claw machines that are playable through a mobile app.
Cumulative Funding Raised Over Time ($)
Latest News
growth-negative
The court trustee favored Fankong Global’s offer to save the Israeli gaming company.
Gigantic, an Israeli gaming company known for its Clawee app, is set to be acquired by Cyprus-based Fankong Global. The company, which has accumulated debts of approximately $10.8 million, filed for court protection and appointed a trustee to manage its rehabilitation. The trustee recommended selling Gigantics shares to Fankong Global for $360,000, as it would allow the company to be sold debt-free and facilitate a faster regulatory approval process. Gigantic, founded in 2017, previously raised $19 million from investors and at its peak employed over 120 people. Currently, it employs only 16 staff members.
Acquired-by
growth-negative
חברת המשחקים שגייסה 19 מיליון דולר מוצעת למכירה ב-1.3 מיליון שקל
The Israeli startup Gigantic, known for developing the Clawee app that allows users to remotely control physical gaming machines, is facing financial difficulties due to a problematic business model. As part of a recovery plan, a trustee has proposed selling the company to a Cypriot firm, free of its 39 million shekel debt. This move is aimed at stabilizing the companys financial situation and ensuring its continued operation. The acquisition is seen as a necessary step to address the companys challenges and secure its future.
Acquired-by
growth-negative
Gaming startup Gigantic requests court freeze after amassing $10.7M debt | CTech
Gigantic, an Israeli gaming company known for its Clawee app, is facing significant financial challenges and has requested a court-appointed trustee to help rehabilitate the company. The company has accumulated debts of approximately NIS 39 million ($10.7 million) and is struggling to raise funds amid ongoing financial difficulties. Gigantic has raised around $19 million over the years from investors such as MoreTech Ventures, VGames, and NFX. The company, which once employed over 120 people, now has only 16 employees after recent cutbacks. Gigantic is seeking to maintain operations on a limited scale to secure investment or complete a sale transaction.
InvestmentLayoffs
growth-positive
Gigantic raises $7 million to bring arcade-based claw machines online CTech
Gigantic, an Israeli startup that develops mobile arcade games connected to physical counterparts, has raised $7 million in a funding round co-led by MoreTech Ventures, NFX, and Vgames. The companys first game, Clawee, reached the top 30 most downloaded games in the U.S. and was also one of the top 100 grossing games. The funding will help the company maintain its leading position in the growing connected reality genre and continue to innovate and improve its game.
Investment
growth-positive
Hitting the jackpot: Clawee is the next stage in gaming
Gigantic, the company behind the Clawee game app, has seen significant growth with 1.5 million people playing each month and another million watching. The app allows users to operate a claw machine remotely, with the prize delivered to their home. Gigantic was founded by Ron Brightman and Oded Frommer, who raised $2 million in their first financing round, mainly from angel investors. The company has grown from four to 400 machines and employs 100 people. Gigantic is now looking to expand into other games and is considering incorporating non-fungible tokens (NFTs) into their platform.
CustomersInvestmentExpand
| Sector | Media & Entertainment Technologies |
Funding
| Total funding | $14M |
| Last funding | $7M |
| Stage | Acquired |
| Rounds | 2 |
| Investors | 4 |
Team Members
1
Employees: 11-50
Web & Social Links
| App Store | App Store |
| Google Play | Google Play |
Locations
Tvu'ot ha-Arets St 3, Tel Aviv-Yafo, Israel
Photos & Videos
2 item(s)
