Iconic AI, an AAA games studio in London specialising in AI-driven game development, has scored $4 million in an oversubscribed pre-seed funding round.
The round was led by HodlCo, with participation from FOV Ventures, Interface Capital, Deepwater Asset Management, and scout funds from Sequoia and Atomico. It also attracted investment from notable current and former senior executives at DeepMind, OpenAI, Disney, Tencent, and Microsoft.
The new funding will be strategically utilised to expand the core team, enhance R&D capabilities, and accelerate the release of Iconic AI’s first game.
The idea behind Iconic AI
Iconic AI was founded by John Lusty and Junaid Hussain met in 2023. John, who made his first game at age five on a Commodore PET, has worked with Ninja Theory, Square Enix, Oculus, and Five AI. Junaid, after investing in over a dozen gaming and emerging technology companies. On meeting John, he realised that together they could build a company with the pioneering and deeply technical culture that originally drove the birth of the gaming industry.
The founders decided to build an AI-first studio for the modern age, assembling a top-tier team combining expertise in game development, creative production, and deep tech R&D from the likes of DeepMind, Rockstar, Pixar, and Sony.
What does the company do?
Iconic AI aims to revolutionise game development by integrating AI to streamline production processes, reducing the scale and cost traditionally required. Its approach intends to create more engaging, varied games with smaller teams, ultimately enhancing the gaming experience and expanding consumer choice in the market. Its technology makes game development faster, cheaper, and more creative.
“Besides fulfilling my dream of playing games at the office all day, I saw a generational opportunity to combine proprietary R&D and unmatched storytelling to create a new category of gaming that defines the future of immersive entertainment,” said Junaid Hussain, Founder and President of Iconic AI.
Commenting on the investment, John Lusty, Founder and CEO of Iconic AI, adds, “This funding will enable us to prove we can redefine game development, and challenge the misconception that AI is here to replace, rather than enhance, human creativity. Our goal is to push the boundaries of interaction and immersion for our players, while making work more interesting and secure for developers. We believe our approach will create more jobs while elevating each individual on a team to have more impact and influence on the game they are making. Our belief is that by harnessing AI, smaller teams can become as efficient as, if not more efficient than, the largest video game developers, allowing them to create dozens of games. We are excited to continue this journey with the support of our new partners.”
What do we think about Iconic AI?
The AI-driven AAA game studio in London has raised $4 million in pre-seed funding to revolutionise game development. By leveraging AI, Iconic AI aims to reduce costs and enhance creativity, enabling small teams to produce high-quality games. This innovative approach positions them to reshape the gaming industry and create more immersive, varied experiences for players.
