Paphos, Cyprus — March 12, 2026 — Odd Meter, the independent game studio behind the critically acclaimed narrative adventure INDIKA, has raised $5 million in funding from GEM Capital and Autotelic Ventures. The investment will be used to develop the studio’s next, as-yet-unannounced project.
Odd Meter’s breakout title INDIKA, released in 2024, quickly became one of the most awarded narrative-driven indie games of 2024-2025. The game received major international recognition, including top honors at the Japan Game Awards and Games for Change, and earned nominations at leading global awards such as The Game Awards, BAFTA Games Awards, and DICE Awards. INDIKA was widely praised for its narrative ambition, distinctive visual style, and unconventional thematic approach.
“Odd Meter has shown that deeply authored, narrative-focused games can achieve both critical acclaim and global visibility,” said Roman Gurskiy, Managing Director at GEM Capital. “INDIKA stood out not only creatively, but also in how strongly it resonated with audiences and industry peers. With the studio’s next project, the team has the opportunity to build something larger and more ambitious, while preserving the distinctive creative voice that made INDIKA stand out. We see strong long-term potential in the team and their next chapter.”
According to Odd Meter’s Creative Director, Dmitry Svetlow, the funding allows the studio to expand while preserving its creative independence.
“This round gives the studio the runway to grow the team and stay fully focused on building its next game,” Svetlow said. “We’re grateful to GEM Capital and Autotelic Ventures for their support and trust in our vision. We’re applying everything we learned from INDIKA to a new project that pushes our narrative and artistic goals further, while scaling production to a new level.”
Vladislav Korotkov, CEO of Autotelic Ventures, added that the firm was drawn to Odd Meter’s consistency and creative discipline.
“Odd Meter has proven its ability to execute ambitious ideas at a high level,” the CEO said. “We believe the studio is well positioned to deliver another standout title with global relevance.”
Odd Meter has not yet disclosed details about the new project, including genre, platforms, or release window.
About Odd Meter
Odd Meter is an independent game development studio focused on narrative-driven, artistically distinctive games. The studio debuted with the VR title Sacralith: The Archer’s Tale and gained international recognition with INDIKA, which received multiple international awards, including wins at Japan Game Awards, Games for Change, Indie Pearl Awards, NYX Game Awards, DIGY, and Anifilm. The studio’s work has also been nominated at major global industry events such as The Game Awards, BAFTA Games Awards, Golden Joystick Awards, DICE Awards, and The Webby Awards. Odd Meter is known for its strong authorial voice and unconventional narrative approach.
About GEM Capital
GEM Capital is one of the world’s leading gaming investors. The firm has been named Best Investor in Europe and was nominated for Investor of the Year for two consecutive years at the 2024 and 2025 MENA Games Industry Awards. With a portfolio of over 25 companies, GEM Capital is among the most active gaming investors globally. Portfolio companies include AppMagic, Mundfish (Atomic Heart), Unfrozen (Heroes of Might and Magic: Olden Era), Deus Craft (Grand Hotel Mania), Sad Cat Studios (Replaced).
About Autotelic Ventures
Autotelic Ventures is an independent investment company and long-term partner for founders, studios, and creative entrepreneurs. The company builds a diversified portfolio across interactive entertainment, games, and the broader creative and technology industries, supporting projects from early concept and production through growth, commercialization, and global scaling. Partnership extends well beyond capital. Autotelic Ventures works alongside founders and leadership teams to deliver hands-on, end-to-end support, including strategic guidance, operational expertise, access to an international network, and practical assistance in navigating critical business decisions.