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Squido Studio

Extended Reality
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AR/VR platforms
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Canada-based Squido Studio is a VR game development studio, known for its ‘No More Rainbows’ platforming-based game title (priced at USD 20, released in June 2023). The game, developed using Unity, is set in four different fantasy worlds with 28 levels. It uses arm-based locomotion mechanics, allowing players to run, jump, claw, and climb using their hands.

The game also features a 3v3 multiplayer mode and offers a speedrun leaderboard for level completion. Players are also able to customize their character with in-game cosmetics.

The company generates revenue via outright sales of its video game and digital currency (ranging USD 10–50) used to purchase in-game cosmetics. To bolster revenue, the company offers a creator rewards program to pay creators based on total view count their content garners.

Key customers and partnerships

As of November 2023, No More Rainbows had 950+ reviews on the Meta Quest store.

Funding and financials

In November 2023, Squido Studio raised CAD 1.5 million (~USD 1.1 million) in a funding round led by the Canada Media Fund. Funds were earmarked for the development of an upcoming mixed reality game.


Extended Reality

Extended Reality

Key stats
Featured companies
238
Total funding (USD)
13.6 Bn
Total addressable market (USD)
100.4 Bn
Key competitors
 
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EDGE Insights

XR and MEP (Q4 2023): XR GenAI adoption accelerates alongside funding rebound

Company Brief


HQ location:
Montréal QC CAN
Founded year:
2019
Employees:
11-50
Total Funding:
USD 1.1 million
Last Funding
USD 1.1 million, Nov 2023

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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