Russian game publisher Mundfish has secured a Series B funding round led by Tencent. Two existing investors — Moscow-based GEM Capital  the investment vehicle of oil industry executive Anatoliy Paliy and Gaijin Entertainment’s founder Anton Yudintsev — also took part in the deal.

The amount of the capital injection was not disclosed, but industry insiders told Russian business publication RBC that it could range between $10 million and $15 million at a valuation of $35-45 million. 

Mundfish will use the funding to develop its upcoming action-adventure game, Atomic Heart, and for further development of the franchise. 

Atomic Heart features Soviet life after a technological revolution brought in robots, the Internet, holograms — “all things immersed in the atmosphere of communism, imperialism and confrontation with the West.” The main character of the game is a KGB special agent who was sent to a highly secret venue after it went radio silent. The game mixes “hardcore melee combat with thick, surreal atmosphere.” 

Developed in close collaboration with Epic Games Unreal Engine team and Nvidia, the game will support hardware-accelerated Ray Tracing. It will be accessible from PC, PlayStation, and Xbox families of consoles by Mundfish. 

Yudintsev saw in Atomic Heart something “incredibly unique” and “a serious contender on a worldwide market of AAA games” with “the potential to become a big franchise.”

“This deal will help us move towards the release much faster,” said Mundfish Studio Director and co-founder Robert Bagratuni, expressing confidence that “Tencent shares our corporate values and long-term goals.”