Hiro Capital

Hiro Capital is a Luxembourg / London technology Venture Capital fund which invests in European and UK innovators in Games, Esports and Digital Sports. Hiro Capital generally invests at the post-seed Series A and B stages. We invest both in front-end Content creators in Games, Esports and Digital Sports and in deep tech sector-specific applications of Cloud, Mobile, Streaming, Big Data, AI, Wearables, AR and VR technologies.

Luke Alvarez

Founder, General Partner

Samuel Costello

Principal

Thomas Martens

Industry Venture Director

30 past transactions

Atom Switch

Venture Round in 2022
Atom Switch, Inc. is an independent game developer. The company is driven by a passion for gameplay and storytelling so good that it builds loyalty and drives sales better than micro-transactions and monetization strategies ever could.

Machinations

Series A in 2022
Machinations is a browser-based platform intended to design, balance, and simulate game systems. Machinations' platform combines a standardized design language with the power-features to build complex systems, enabling clients to run multiple, stochastic simulations to reduce guesswork and predict player outcomes.

Firestoke

Seed Round in 2022
Firestoke is a publisher of indie PC and Console games.

Skybound

Venture Round in 2022
Skybound Entertainment is an imprint of image comics that provides comic book creators the opportunity to publish their work. It offers Robert Kirkman’s Eisner award-winning comic book series, The Walking Dead, long-running Invincible, all-ages Super Dinosaur, Thief of Thieves and Clone as well as Witch Doctor, Guarding the Globe, and The Astounding Wolf-Man. Since its inception, Skybound Entertainment has created television shows, merchandise, and a wide spectrum of platforms, games, and entertainment events. It was launched by Robert Kirkman in 2010. Skybound Entertainment is operated from Culver City, California.

AXiomatic

Venture Round in 2022
AXiomatic powers unforgettable esports experiences through sports and entertainment expertise. Its mission is to build a portfolio of dynamic company holdings in the esports and video gaming industry. Through strategic partnerships, investments, and acquisitions, the team connects esports groups with valuable resources including venues, technologies, media content, distribution partners, and investment capital. The company was founded in 2015 and is headquartered in Los Angeles, California.

Carv

Venture Round in 2022
Carv is the first wearable dedicated to skiing that speaks to you as you ski - it’s your digital ski coach. Built in consultation with Olympians, Carv gives you access to the feedback and knowledge that only elite skiers have had access to so far. With an extremely thin smart insert, Carv measures your motion and pressure distribution and relays feedback through your earphones in real-time. Carv connects wirelessly to your smartphone to give simple, actionable feedback to casual skiers and detailed metrics and analysis for advanced and professional skiers. Carv lets you train, compete and challenge people with its detailed metrics and helps you improve your skiing with technique analysis.

FRVR

Series A in 2022
FRVR is an instant gaming distribution platform that connects billions of players to captivating games. It aims to democratize game distribution by delivering great games for everyone, everywhere. It collaborates with innovative partners to deliver content, expertise, and technology to push game distribution beyond app stores and help bring a games channel into its environment in a way that fits. It works with game developers and studios to build great games and distribute them across open and closed channels.

Loco

Series A in 2022
Loco is an Indian game streaming platform. provides multiplayer social communities where gamers may connect with the public via live streams and arcade games, allowing them to demonstrate their abilities and earn playtime prizes.

Frameplay

Series A in 2021
Frameplay is an Intrinsic advertising platform for video games. Frameplay offers a transparent, self-serve, gamer-first experience that encourages creativity whilst delivering sophisticated data and analytics to both advertisers and developers. Frameplay is truly the in-game advertising leader, enabling intrinsic advertising within video game environments.

DreamCraft

Series A in 2021
DreamCraft is a platform that allows anyone to create, publish and monetize games without programming or art skills.

Elvie

Series C in 2021
Elvie is a health and lifestyle brand developing smarter technology for women. They are committed to building extraordinary products that improve the health and lives of women everywhere and at all stages of life. Their first product, Elvie Trainer, is an award-winning app-connected Kegel trainer that helps women strengthen the pelvic floor via fun, five-minute workouts. Launched in October 2015 to great acclaim, they took the wellness industry by storm! Our street cred includes more than 12 awards for innovation and design, including the prestigious CES Innovation Award, the IDA Design Award, and the Red Dot Award. As a business, Elvie has been recognized as one of Wired’s ‘hottest start-ups" and named one of the 15 start-ups "to watch" by The Sunday Times, and both products have been featured in the Oscar nominee gift bags. They recently launched a second innovation: Elvie Pump, the world’s first silent wearable breast pump, which is making it possible for new mothers to pump anytime, anywhere. Elvie Pump received international praise following its unveiling on the catwalk at London Fashion Week and at the Consumer Electronics Show (CES) in Las Vegas. In April 2019, Elvie announced a $42 million Series B led by IPGL and supported by Octopus Ventures and Impact Ventures. This represented the largest ever fundraise in femtech. This new round of financing will accelerate Elvie’s research and development efforts as well as help grow brand awareness and distribution for Elvie Pump and Elvie Trainer across the Americas, Europe, and Asia. Headquartered in London, UK, with offices also in New York City, the company has received numerous awards and raised more than $52 million in investment.

Elvie

Series C in 2021
Elvie is a health and lifestyle brand developing smarter technology for women. They are committed to building extraordinary products that improve the health and lives of women everywhere and at all stages of life. Their first product, Elvie Trainer, is an award-winning app-connected Kegel trainer that helps women strengthen the pelvic floor via fun, five-minute workouts. Launched in October 2015 to great acclaim, they took the wellness industry by storm! Our street cred includes more than 12 awards for innovation and design, including the prestigious CES Innovation Award, the IDA Design Award, and the Red Dot Award. As a business, Elvie has been recognized as one of Wired’s ‘hottest start-ups" and named one of the 15 start-ups "to watch" by The Sunday Times, and both products have been featured in the Oscar nominee gift bags. They recently launched a second innovation: Elvie Pump, the world’s first silent wearable breast pump, which is making it possible for new mothers to pump anytime, anywhere. Elvie Pump received international praise following its unveiling on the catwalk at London Fashion Week and at the Consumer Electronics Show (CES) in Las Vegas. In April 2019, Elvie announced a $42 million Series B led by IPGL and supported by Octopus Ventures and Impact Ventures. This represented the largest ever fundraise in femtech. This new round of financing will accelerate Elvie’s research and development efforts as well as help grow brand awareness and distribution for Elvie Pump and Elvie Trainer across the Americas, Europe, and Asia. Headquartered in London, UK, with offices also in New York City, the company has received numerous awards and raised more than $52 million in investment.

Keen Games

Series B in 2021
Keen Games previous designed games are portal knights, olympus rising, sacred 3, and royal revolt 2. It is an independent game developer company that provides games that can be played on gaming platforms. For inquiries, email, telephone numbers, and addresses are available on their website.

Loco

Seed Round in 2021
Loco is an Indian game streaming platform. provides multiplayer social communities where gamers may connect with the public via live streams and arcade games, allowing them to demonstrate their abilities and earn playtime prizes.

Double Loop Games

Series A in 2021
Double Loop Games is a mobile studio dedicated to making delightful, relaxing experiences for the biggest audience in games.

Twin Suns

Seed Round in 2021
Twin Suns Corp is a video game studio developing action games for console and PC. The company creates video games with its AAA class platform title, which will debut with an original game franchise, providing players around the world with creative and unexpected experiences. Tim Longo, Forest Swartout, and Jeff Morris co-founded the company.

FRVR

Convertible Note in 2021
FRVR is an instant gaming distribution platform that connects billions of players to captivating games. It aims to democratize game distribution by delivering great games for everyone, everywhere. It collaborates with innovative partners to deliver content, expertise, and technology to push game distribution beyond app stores and help bring a games channel into its environment in a way that fits. It works with game developers and studios to build great games and distribute them across open and closed channels.

Happy Volcano

Venture Round in 2021
Happy Volcano is an award-winning game development studio currently working on You Suck at Parking, the only racing game where the goal is to stop. Previously released The Almost Gone, a narrative exploration game and Pixel Picasso, an augmented reality memory game.

Double Loop Games

Venture Round in 2021
Double Loop Games is a mobile studio dedicated to making delightful, relaxing experiences for the biggest audience in games.

Snow Print Studios

Venture Round in 2021
Snowprint Studios is a collective of games industry veterans for the everyday mobile gamer developers of Legend of Solgard. It also the likes of King, DICE, Rovio, Unity, Zynga and elsewhere that is creating a new mid-core games category that brings together the old and the new while tapping their combined skills to deliver well-crafted mechanics, aesthetics, characters and more. Snowprint Studios aims to take the gameplay experience to richer, deeper levels while making mobile mid-core free-to-play games accessible. The company was founded in 2015 and is based in Stockholm Sweden.

PlayerData

Series A in 2021
Our mission is to transform the way Athletes train, giving everyone from amateur to professional access to the latest in wearable technology. We pride ourselves on our PlayerData community, bringing athletes together to make the most of their data. We value openness, progress and accessibility, which are at the foundation of everything we do. Whether we are bettering ourselves, our service, or helping our customers enhance themselves in their sports, we strive to progress together and make all of our technology accessible to athletes at every level.

Lightfox Games

Seed Round in 2020
Lightfox is a game development company that creates multiplayer games that connect and inspire the next generation of mobile players. Lightfox hopes to set the bar high for what it means to create socially connected video games. They create games to foster strong social bonds between old and new friends.

Zwift

Series C in 2020
Zwift is a provider of an interactive fitness platform used to transform monotonous solo indoor cycling and running workouts into dynamic and social adventures. Its platform connects users to physical indoor trainers so that cyclists can pedal inside while immersed in any number of virtual landscapes on a screen in front of them that enable users to join in rides together with friends. Zwift uses gaming technology to bring the outdoor experience indoors, making at-home exercise fun, and engaging. It promotes social experience by connecting cyclists and runners in 3D computer-generated platform. Users of the Zwift platform interact, train, and compete together by wirelessly pairing a bike trainer or treadmill to the Zwift app, to power their in-game avatars. Zwift was launched in 2014 by Alarik Myrin, Eric Min, Jon Mayfield, and Scott Barger and is headquartered in Long Beach, California.

Polyarc

Series B in 2020
Polyarc is a Seattle based creative studio building new and original worlds through the visual and interactive magic of virtual reality.

FitXR

Series A in 2020
FitXR is an immersive AR & VR fitness platform on a mission to create a movement for movement.

NURVV

Series A in 2020
NURVV is a London-based sports wearable tech startup.

Edgegap

Seed Round in 2019
Software development company specialized in Edge Computing infrastructures. Developed unique solutions to monetize use cases like video games.

Flavourworks

Series A in 2019
Flavourworks is a computer entertainment in order to bring unique and innovative experiences to broad audiences.
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