Sad Cat raises $5M from GEM Capital to launch Replaced

Platformer about AI trapped in human body is set to launch in 2024

For Immediate Release


October 4, 2023 - Today, developer Sad Cat and Cyprus-based venture firm GEM Capital announced a $5M investment in the studio. The funds will be used for development of future games, mainly Replaced, as well as a buyout of shares from the studio's angel investors.

Replaced

Replaced (stylized as REPLACED) is a cinematic action platformer set in a dystopian retro-futuristic vision of ‘80s America. The game combines spectacular and fierce combat encounters featuring old-school hand-painted pixel art enhanced with modern visual effects. Players take on the role of REACH, an AI trapped within a mortal human body against its will, fighting for survival against all odds. Replaced promises a thrilling story set in a variety of beautiful locations both inside and outside of Phoenix City, as well as a fast and ruthless combat system.

Replaced first debuted at E3 2021 during Microsoft’s Xbox Showcase. Xbox head Phil Spencer wrote on X that Replaced "is something unique and different" and that he was "proud to have it in the show".

The second trailer premiered at The Game Awards 2022. The game’s two trailers have since received over 2 million views and garnered highly positive feedback from players, with 98% likes on YouTube.

Replaced is included in the lists of the most anticipated games by VentureBeat, Polygon, IGN, GameSpot, Forbes, RockPaperShotgun and more. Replaced was included by Unity in the list of "Incredible Made with Unity games" at GDC 2023.

Replaced is among the most wishlisted games on Steam. 

Sad Cat Studios

Sad Cat Studios was founded in 2018 in Minsk, Belarus, by game developers and entrepreneurs Yura Zhdanovich and Igor Gritsay. Yura, with over 8 years of experience as an artist and visual designer in game development companies and startups like MSQRD, joined forces with Igor, who has a strong background in IT and e-commerce, to establish the foundation for the studio's remarkable journey.

Since then, the studio has partnered with publisher Coatsink and relocated its headquarters to Limassol, Cyprus. It now operates from offices in both Limassol, Cyprus and Gdansk, Poland.

In 2022 the Company raised a pre-seed round from Kolas Ventures.

With a team of over 30 game developers, Sad Cat Studios is gearing up to release their upcoming game, Replaced, in 2024 on PC and Xbox consoles. Leading roles in the studio are held by individuals with experience working in companies such as Wargaming, Azur Games, Playgendary, Mandragora and more.
Stay updated with the latest news and updates on Replaced by following Sad Cat Studios on Twitter/X.


Roman Gurskiy, GEM Capital’s Managing Director, said in a statement,
"We are excited to announce our contribution to the success of Replaced, which is currently one of the most anticipated indie titles. At GEM, we firmly believe that Replaced has the potential to redefine the gaming landscape, captivate audiences worldwide and launch a new strong franchise. Our investment not only aims to support Yura and Igor in their future endeavors but also to ensure the long-term growth and sustainability for their talented team! ”.

Yura Zhdanovich, Founder and Game Director at Sad Cat Games, said in a statement,
“The ultimate goal of our studio has always been to create experiences we, as creators and artists, can be proud of and Replaced is, no doubt, our first testament to that. We are grateful for the trust that our new partners at GEM Capital are putting in our studio and cannot wait to finally show what we have been crafting all these years”.

About GEM Capital

GEM Capital is a game investment company founded in 2017 in Paphos, Cyprus, by PwC veteran Anatoliy Paliy. GEM Capital has a strong portfolio, with seven out of the top ten game startups emerging from Cyprus being portfolio companies of GEM Capital. The average Steam and Metacritic ratings of games developed by GEM’s portfolio companies are above 80%.


With a current portfolio valued at over 100 million USD, GEM Capital is ranked among the top gaming funds in the world and was named Best Investor of 2021 by App2top, the leading business media in Eastern Europe. Notable investments include Mundfish (Atomic Heart), Eschatology Entertainment, Red Rover Interactive, Weappy, Made on Earth Games, and Unfrozen.
For more information on GEM Capital, https://gem.capital.