PlayLogic Secures $3 Million in Funding

Playlogic Entertainment announced today that it has successfully closed $3.0 million in equity at $1.15 per share. The publisher said the new funds "will improve the working capital and equity position of the Company and will allow the Company to execute its business plan and release schedules for 2008."

Playlogic is planning on releasing 20 titles during 2008 on multiple platforms. Its Playlogic Game Factory label also develops first party titles for Sony Computer Entertainment Europe (SCEE). The company currently has approximately 80 employees.