---
title: "Moon Beast Productions Led by Diablo & Diablo 2 Veterans, Gets Funding for New ARPG"
description: "Moon Beast Productions, led by developers of Diablo 1 and 2, has secured $4.5 million in funding as it works on a new and ambitious ARPG."
url: "https://simulationdaily.com/news/moon-beast-productions-funding/"
canonical: "https://simulationdaily.com/news/moon-beast-productions-funding/"
post_type: "post"
author: "Brittany Alva"
date_published: "2024-12-18T11:28:30-05:00"
date_modified: "2024-12-18T11:50:02-05:00"
featured_image: "https://i0.wp.com/simulationdaily.com/wp-content/uploads/2024/12/dfdd5a4e-moon-beast-productions.jpg?fit=1920%2C1080&ssl=1"
categories: "News"
tags: "Diablo 2, Diablo 3, Diablo 4, Gaming, Hellgate: London, Marvel Heroes Online, Moon Beast Productions, News, Nox, PC, PS5, Torchlight, Torchlight 2, Xbox Series X|S"
extractor: "block"
---

Moon Beast Productions, led by developers of Diablo 1 and 2, have gotten $4.5 million in funding as the studio works on a brand-new take on ARPGs.

The studio, which is led by veterans like Phil Shenk, Peter Hu, and Eric Shaefer, has gotten funding from several investors, including:

This funding will help Moon Beast Productions focus on a new ARPG. It's particularly looking at what the genre could have turned into if it had the technology it has today. This includes advanced procedural generation and dynamic world technology.

The studio is using these features to make an ARPG that is open-ended, expansive, and has unending freedom and replayability. The upcoming game is ambitious, but the team has a ton of experience that includes titles like Diablo 1/2/3, Nox, Hellgate: London, Torchlight 1/2, and Marvel Heroes Online.

User-generated content (UGC) will also play a prominent role in the upcoming game. More info about the game will be released early next year, but several members of the studio had plenty to say about their funding success.

Peter Hu, the President and Co-Founder, shared a bit about the studio's goals:

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Phil Shenk, CEO and Co-Founder, expanded on how their experience will help the new game:

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Chief Creative Officer and Co-Founder Erich Schaefer also discussed more on the developer's experience:

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Two investors also shared their thoughts. Avner Florenthal, the VP of Business Development at Overwolf, said"

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The Lead Investor Gregory Milken, from 1AM Gaming, said:

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For more industry-related news, check out Cooldown Games' launch as an independent games publisher and Hideki Kamiya's new studio Clovers, which will work on the upcoming Okami sequel.