Cauldron raises $1.4m to debut Sci-Fi project in Web3 gaming

Cauldron founders (left to right) Matt Hyde, Mark Warrick and Fox Rogers

Gaming has become the pinnacle of media. It’s where art meets technical brilliance. At Seedcamp, we believe that gaming is the future of entertainment and, over the past few years, we’ve made bets to double-down on this conviction, partnering with companies like Sorare, PortalOne, GDevelop.

While we’ve made investments in gaming, never before have we dipped our feet into the world of gaming studios…until now! We are incredibly excited to back Mark Warrick, Fox Rogers, and Matt Hyde, co-founders of Cauldron, as they debut their sci-fi project in Web3 gaming. 

Cauldron was labeled as one of FinTech’s best-kept secrets when, last summer, the gaming studio spun out of the fintech unicorn Thought Machine. Their then-Chief Design Officer, Mark, announced he was moving on after seven years to start Cauldron alongside a founding team including the award-winning creative force of Fox Rogers, who worked at Thought Machine as a Design Director, and BAFTA-nominated games director Matt Hyde. Cauldron’s CTO, Matthew Newcombe, has also been in the games industry for over 10 years, having worked at ustwo games, Rare, and King, where he worked on Monument Valley 2, Assemble with Care, and Halo.

Official teaser art for Cauldron’s debut project currently codenamed “Project Nightshade”

“Our studio is fostering a worldbuilding-led approach which puts emotive storytelling at the forefront of the experience. It could not be better timing – a new audience is emerging that is looking for the next big Web3 experience where players can participate and own parts of a universe they love,” Fox said. “At Cauldron, we have a history of working in markets where our emotive art and storytelling has a dramatic impact on our products – and this project is no different.”

We are excited to back this exceptional team in an oversubscribed $1.4M round with Cauldron’s existing investors IQ Capital and Playfair Capital. Cauldron is not short of wider industry expertise either, having appointed Alex Brunicki from Backed VC as their advisor alongside a strong angel support base which includes Kieran Hill (20VC), Carmen Alfonso Rico (Cocoa), and Vinoth Jayakumar (Molten Ventures).

“At Seedcamp, we backed Sorare early and boldly, stating it would become one of the first mass crypto games,” Seedcamp Partner Sia Houchangnia states. “We know gaming will be one of the main drivers behind mainstream crypto adoption and are thrilled to have found yet another world-class team in Cauldron who have a strong market vision for a Web3 gaming niche that we have not seen to date and we are delighted to be supporting them at the start of their journey.”

For more information or to contact Cauldron, visit 

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