Online gaming company Ignite Game Technologies has raised $7.5 million in Series B financing from private investors in a round led by Steve Bellotti and Bill Budinger.
The company raised a $3 million Series A round in 2010 and has raised a total of $12.2 million in funding.
The company will use the additional capital for the development of a “new form of auto racing game”.
Exactly when it will launch and what it will bring to the table remains unclear. The company operates a website at SIMraceway.com where you can sign up for a beta of a game, which I assume is the one they’re referring to, although this wasn’t made clear in the press statement.
In it, the startup posits that it will provide gamers with an entirely new online auto racing experience that is “bound to shake up traditional racing gameplay” by emphasizing live online multiplayer gaming, a high-fidelity physics engine and “proprietary player skill quantification technology”.
The product will debut later this year in the fall.
Ignite is based in San Francisco and founded in 2008 by Jonathan Haswell and James Synge.