Velan Studios
Velan Studios is an independent game developer founded in 2016 by the Bala brothers, building mixed-reality, VR, and console titles using its proprietary VIPER engine for partners including Nintendo and PlayStation and self-published on Meta Quest and Steam.
- Company typePrivate
- Founded2016
- HeadquartersTroy, United States
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Velan Studios does
Velan Studios is an independent game development studio founded in October 2016 in Troy, NY by brothers Karthik and Guha Bala, the former co-founders of Vicarious Visions. The studio employs 100+ staff across its Troy headquarters (5 3rd Street, Suite 300) and a Toronto office opened in March 2025, and has shipped six distinct titles spanning mixed-reality, VR, competitive multiplayer, and cinematic single-player genres. Its portfolio includes Mario Kart Live: Home Circuit (Nintendo, 2020), Knockout City (self-published, 2021), Hot Wheels Rift Rally (self-published, 2023), Bounce Arcade (Meta Quest, 2024), Midnight Murder Club (PlayStation, 2025), and Star Fox (Nintendo Switch 2, June 2026).
The studio's core technical asset is the proprietary VIPER in-house game engine, used to deliver Star Fox with real-time rendered cinematics and gameplay at 60fps. Velan also holds proprietary mixed-reality know-how that fuses physical RC hardware (karts, smart cars, QR-enabled gates) with digital tracks and challenges. Its technology stack is further evidenced by third-party integrations including Gamesight Analytics for player telemetry, Google Analytics for marketing measurement, and Meta Pixel for ad tracking.
Velan makes money through three streams: (1) co-development fees and royalties from platform publishers Nintendo and PlayStation on flagship titles; (2) self-published one-time game sales through Steam, Epic, Meta Quest Store, and physical retail; and (3) bundled hardware sales for its mixed-reality titles. Pricing is publisher-set (Star Fox at $49.99 digital / $59.99 physical). The studio is privately held by the founding brothers, with only one disclosed funding event — a $7M round from related-party Velan Ventures in July 2017 — indicating reliance on publisher development fees and founder capital rather than external venture funding. Notable operational setbacks include the June 2023 shutdown of live-service title Knockout City and a 2024 studio reorganization following a project cancellation.
Velan Studios firmographics
Firmographics- Name
- Velan Studios
- Legal name
- Velan Studios, Inc.
- Website
- https://velanstudios.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Velan Studios is an independent game developer founded in 2016 by the Bala brothers, building mixed-reality, VR, and console titles using its proprietary VIPER engine for partners including Nintendo and PlayStation and self-published on Meta Quest and Steam.
- Ownership category
- akta.pro rank
Velan Studios industry classification
Industry- Product category
- Video Game Development Studio
- akta.pro primary industry
- Social/UGC & Sandbox Game Studios (Roblox-like) (MPAFAAAF)
- akta.pro secondary industry
- Sports/Racing Game Studios (MPAFAAAJ)
Keywords
Where Velan Studios is headquartered
LocationHeadquarters
- HQ city
- Troy
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Velan Studios business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Game Sales: One-time purchase revenue from video game titles sold through digital storefronts (Nintendo eShop, Steam, PlayStation Store) and physical retail
- Hardware Sales: Sale of physical hardware products including Mario Kart Live (RC kart with camera) and Hot Wheels Rift Rally (Chameleon smart RC car with QR-enabled gates) that pair with digital games
- Publisher Partnerships: Revenue from co-development deals with publishers like Nintendo (Star Fox) and PlayStation (Midnight Murder Club), where publisher handles publishing and distribution while Velan handles development
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Star Fox (Nintendo Switch 2) - Standard Edition |
| One time/ perpetual license | Pay-as-you-go | Star Fox 64 Remake - Mexico pricing |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels9 records
Velan Studios product offering
Product offeringCore offering
Velan Studios is an independent game development studio that designs, develops, and publishes video games across console, PC, VR, and AR platforms. Its portfolio spans AAA co-developed franchise titles (Star Fox for Nintendo Switch 2, Mario Kart Live: Home Circuit with Nintendo), self-published multiplayer and party games (Midnight Murder Club, Knockout City), and mixed-reality/VR experiences (Hot Wheels Rift Rally, Bounce Arcade). The studio operates the proprietary VIPER in-house game engine that powers 60fps gameplay with real-time rendered cinematics, and has built specialized mixed-reality technology that pairs physical RC karts and smart RC cars with digital tracks.
Product overview
Velan Studios is an independent game development studio that creates breakthrough games across multiple platforms and genres. Their portfolio consists of six distinct games: Star Fox (a cinematic shooter co-developed with Nintendo for Switch 2), Midnight Murder Club (a horror party game), Bounce Arcade (a VR pinball experience), Hot Wheels Rift Rally (mixed-reality AR racing), Knockout City (team-based competitive action sports), and Mario Kart Live: Home Circuit (AR racing with physical RC karts). The company operates their own in-house VIPER game engine and has developed expertise in mixed-reality, VR, and cross-platform multiplayer experiences.
Differentiator
Problem solved
Functional benefit
Products and services
- Star Fox A cinematic on-rails shooter and remake of Star Fox 64 developed for Nintendo Switch 2 in partnership with Nintendo. Built on Velan's proprietary VIPER engine, it runs at 60fps with real-time rendered cinematics, features dual-stick flight controls, an asymmetric two-player co-op mode, and a 4v4 online Battle Mode with Mario Kart-style weapon pick-ups. Targeted at Nintendo Switch 2 owners and Star Fox franchise fans.
- Midnight Murder Club A six-player horror party game set in a pitch-black mansion where players navigate using flashlights and revolvers with proximity chat, creating tension-filled chaotic multiplayer sessions. Published by PlayStation and developed by Velan Studios. Targeted at players seeking social/party-game horror experiences on PlayStation and PC platforms.
- Bounce Arcade A VR action pinball game for Meta Quest in which players use hand-controlled paddles to guide the ball through four immersive pinball worlds. Self-published by Velan Studios. Targeted at VR gamers and pinball enthusiasts using Meta Quest headsets.
- Hot Wheels Rift Rally A mixed-reality racing game that pairs a real Hot Wheels Chameleon smart RC car (with embedded camera and QR-enabled gates) with digital tracks so players race through their own homes. Self-published by Velan Studios. Targeted at families and gaming enthusiasts seeking physical-plus-digital hybrid play experiences.
- Knockout City A team-based competitive multiplayer game featuring fast-paced dodgeball-style battles with deep mechanics across nine seasons of live-service content. Self-published by Velan Studios across PC and console platforms. Note: live service was shut down in June 2023 following a decision to end live operations. Targeted at competitive multiplayer players.
- Mario Kart Live: Home Circuit A mixed-reality racing game developed in partnership with Nintendo that pairs real RC karts with an in-home course displayed on the Nintendo Switch, blending physical RC car racing with digital Mario Kart gameplay. Published by Nintendo. Targeted at Nintendo Switch owners, families, and Mario Kart fans seeking a hybrid physical-digital play experience.
Quantifiable outcome
- First online Star Fox multiplayer since 2006 with new Battle Mode
- +1 more outcomes
Companies that use Velan Studios
Customer profileNamed customers4 records
Segments2 records
Ideal customer profiles2 records
Velan Studios technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature4 records
Velan Studios partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered flagship and core.
- NintendoflagshipVelan Studios co-developed Star Fox (Nintendo Switch 2) with Nintendo, using Velan's proprietary VIPER engine. Also previously co-developed Mario Kart Live: Home Circuit (2020). Nintendo serves as publisher for these titles. This represents a flagship partnership for AAA franchise development.
- PlayStationcorePlayStation publishes Midnight Murder Club, a six-player horror party game developed by Velan Studios. This is a core publishing partnership for one of Velan's major self-developed titles.
- Meta QuestcoreMeta Quest serves as the distribution platform for Bounce Arcade, a VR pinball game developed by Velan Studios. Velan self-publishes while Meta provides the VR platform and storefront.
Scale indicators6 records
Recent moves7 records
Expansion highlights5 records
Velan Studios competitors and assessment
Company assessmentDirect peers
- Asobo Studio: Independent French studio of comparable size (~250 people) with deep mixed-reality and proprietary-engine expertise (Microsoft Flight Simulator, Plague Tale). Like Velan, Asobo pairs proprietary technology with major publisher co-development and self-publishing.
- Playdead: Independent studio (~70-100 people) that self-publishes critically acclaimed titles (Inside, Limbo) using proprietary technology. Comparable to Velan in operating model: small, independent, technology-led, and reliant on a mix of self-publishing and platform partnerships.
- Retro Studios: Long-standing Nintendo second-party co-developer (Metroid Prime, Donkey Kong Country Returns). The most direct analogue to Velan's Star Fox and Mario Kart Live co-development relationship with Nintendo.
- Resolution Games: VR/AR-focused independent studio (Demeo, Angry Birds VR) shipping immersive and mixed-reality titles across Meta Quest and other platforms. Direct overlap with Velan's Bounce Arcade VR and mixed-reality titles.
- High Voltage Software: Independent co-development and work-for-hire studio with a long history of partnering with major publishers on console titles. Comparable to Velan's co-development business model and similar size/profile.
Emerging players
- Schell Games: Independent studio (~200 people) specializing in VR, AR, and mixed-reality experiences for entertainment and enterprise. Partial overlap with Velan's mixed-reality technology stack and Bounce Arcade VR work.
- Moon Studios: Independent studio (Ori and the Blind Forest, Ori and the Will of the Wisps) with proprietary engine and a mix of co-development and self-publishing. Comparable in independent, technology-led operating model.
Broad incumbents
- Hangar 13: Take-Two/2K-owned studio (Mafia series) that does AAA co-development with a major publisher, much larger than Velan. Comparable in co-development role and proprietary engine ownership, but a much bigger incumbent.
Peers
- Insomniac Games: PlayStation-owned studio and longtime co-development partner with Sony (Spider-Man, Ratchet & Clank). Comparable to Velan as a publisher-aligned co-developer with proprietary technology, but substantially larger and a first-party Sony studio.
Others
- Vicarious Visions: Founded by Karthik and Guha Bala before Velan; long-tenured co-development studio for Activision (Skylanders, Tony Hawk). Direct lineage to Velan's founders and their co-development playbook with major publishers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Velan Studios social profiles
Digital presenceVelan Studios financial estimates
Financial estimateRevenue estimate
Valuation estimate
Velan Studios leadership team
Management profileNumber of profiles
Profiles2 records
Velan Studios funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Velan Studios M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Velan Studios
What does Velan Studios do?
Velan Studios is an independent game development studio that designs, develops, and publishes video games across console, PC, VR, and AR platforms. Its portfolio spans AAA co-developed franchise titles (Star Fox for Nintendo Switch 2, Mario Kart Live: Home Circuit with Nintendo), self-published multiplayer and party games (Midnight Murder Club, Knockout City), and mixed-reality/VR experiences (Hot Wheels Rift Rally, Bounce Arcade). The studio operates the proprietary VIPER in-house game engine that powers 60fps gameplay with real-time rendered cinematics, and has built specialized mixed-reality technology that pairs physical RC karts and smart RC cars with digital tracks.
Is Velan Studios a public or private company?
Velan Studios is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Velan Studios founded?
Velan Studios was founded in 2016. It employs 11 to 50 people.
Where is Velan Studios based?
Velan Studios is headquartered in Troy, United States, in the North America region.
How does Velan Studios make money?
Three revenue lines are on record. Game Sales are the primary driver. The others are hardware Sales and publisher Partnerships.
Who are Velan Studios's main competitors?
Direct peers on record are Asobo Studio, Playdead, Retro Studios, Resolution Games and High Voltage Software. Emerging players are Schell Games and Moon Studios. Hangar 13 is listed as a broad incumbent. Insomniac Games is listed as a peer. Vicarious Visions is listed as an others.
Does Velan Studios have an API?
No public API is recorded for Velan Studios.
What industry is Velan Studios in?
Velan Studios's product category is Video Game Development Studio. Its primary akta.pro industry code is MPAFAAAF, Social/UGC & Sandbox Game Studios (Roblox-like), with a secondary code of MPAFAAAJ, Sports/Racing Game Studios.