Gaming startup Playkey announced it has raised $2.8 million in financing from the Internet Initiatives Development Fund.
Founded in 2012 by Egor Gurjev, Playkey offers a cloud gaming technology service that allows gaming enthusiasts to play PC games without having to purchase an expensive, high-end gaming PC. Users need a personal computer with a minimum download internet speed of 10MBps. For a basic $10 monthly subscription, they can stream at 720p resolution and 30FPS; the $20 monthly plan allows them with a 20Mbps internet connection to stream games at 60FPS and 1080p HD resolution.
Credit: playkey.net
Participating users can purchase game keys from Steam, a gaming distribution platform that provides them with the installation and automatic updating of games, or from Playkey directly by logging in with their Steam IDs. A virtualized window appears on-screen, through which PlayKey initializes the launcher and the game begins to run full screen. One of PlayKey’s strengths is the company’s optimized server runtime: The service can run different 20 game sessions or users simultaneously with multiplayer support.
PlayKey supports 150 games, including titles like Grand Theft Auto V, The Witcher 3, Mafia III, Deus Ex: Mankind Divided, Bioshock: Infinite, and The Elder Scrolls V: Skyrim, with more added every month. Their catalogue also includes a few non-Steam games, including Overwatch, Elder Scrolls: Online and EVE: Online.
According to Guriev, the company has an active user base of 400,000 people and its profits have increased 300 percent during the last year. Playkey is planning to use its new funding to expand services and servers in the U.S., Western Europe, and Asia.