Venture Beat reports: “Velan Studios, a game studio founded by two brothers who made big games for Activision, has raised $7 million in venture capital as it launches an effort to prototype new types of games on emerging platforms. The biggest investor in the round is Velan Ventures, a fund started by Karthik and Guha Bala. In 1991, the brothers started Vicarious Visions, a studio that was acquired by Activision and grew to more than 150 employees. In November, they started their new independent game studio in Troy, N.Y., to focus on innovative independent games.”

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