Obelisk Studio has secured $2 million from The Games Fund.

The Cyprus-based games firm will use the funds to develop its first IP, a psychological action-horror titled Displacement.

It was previously focused on co-development, having contributed to games such as Sons of Forest, Call of Duty, Fallout 76, and New World.

“The Games Fund has placed a lot of trust and support in Obelisk,” said Artem Dorokhin, co-founder and CEO of Obelisk Studio. “Thanks to their resources and extensive connections in the industry, we’ve built all the critical infrastructure, made key hires, and kickstarted the company in record time.”

Ilya Eremeev, co-founder and managing partner at The Games Fund, added:

“With one of the most experienced teams in the region, ethical management practices, and exciting original IP, the Obelisk team is attracting the best talent on the market and developing an inspiring and beautiful but truly chilling horror game.

“We are committed to continuing our support and investment in the growing game industry of Cyprus, one of our key regions, ensuring that the incredibly talented game developers will not be left alone in the dark.”

In 2021, The Games Fund launched a $50 million early-stage investment fund to support video game companies in Europe and the US.