What Kinda Brave does

Kinda Brave Entertainment Group AB (publ) is a Swedish video game holding company headquartered in Uppsala, Sweden, that acquires, owns, and develops game studios and intellectual property rights. It operates as a publicly listed entity (sto:BRAVE) following its 2024 IPO, with a board seat registered in Umeå and listed on Nasdaq First North Growth Market with Eminova Fondkommission AB serving as Certified Advisor. The group has 11-50 employees and runs three wholly-owned operating studios — Windup Games (founded by former Unravel developers), Ember Trail, and Dinomite Games — each focused on independent game development projects.

The company's product portfolio spans five disclosed game titles. Its flagship is Hela, a co-op adventure game from a mouse's perspective set in Scandinavian-inspired landscapes, developed by Windup Games and scheduled for PC and console release in 2026. Earlier-stage catalog titles available on Steam include Distant Bloom, Go Fight Fantastic, 100 Steps, and The Great Below. Core technology centers on co-op adventure game design with proprietary natural movement systems and a domain specialization in recreating Scandinavian natural environments. The business model is one-time license sales of games through Steam and console platforms to individual gaming consumers, with community-driven, product-led go-to-market evidenced by over 100 million organic community-content views and a #82 ranking on Steam's most-wishlisted titles for Hela. A small post-IPO equity raise of approximately $359,000 from JEQ Capital in January 2025 is the only disclosed funding event.

Name

Kinda Brave

Legal name

Kinda Brave Entertainment Group AB

Website

https://kindabrave.com

Company type

Public

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Kinda Brave Entertainment Group AB (publ) is a Swedish publicly listed video game holdco operating three wholly-owned studios (Windup Games, Ember Trail, Dinomite Games) that develop and publish indie and co-op adventure games, including upcoming flagship Hela, for Steam and console consumers.

Ownership category

akta.pro rank

Product category

Video Game Publishing

NAICS

Software Publishers (5132), Arts, Entertainment, and Recreation (71)

SIC

Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

Indie Game Studios (MPAFAAAC)

Keywords

• Video game publishing
• Game development studios
• Co-op adventure games
• Indie game publishing
• Game intellectual property

Headquarters

HQ city

Uppsala

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Game Sales: Developing and selling video games on PC and console platforms including Steam distribution

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Kinda Brave Entertainment Group AB is a Swedish video game holding company that acquires, owns, and develops game studios and intellectual property rights. The group operates through wholly-owned subsidiary studios (Windup Games, Ember Trail, Dinomite Games) that develop and publish video games for PC and console platforms, with flagship upcoming title Hela being a co-op adventure game from a mouse's perspective set in Scandinavian-inspired landscapes.

Product overview

Kinda Brave Entertainment Group AB is a video game publishing company with a portfolio of games across multiple studios. The company operates as a platform with subsidiary studios including Windup Games, Ember Trail, and Dinomite Games. Current game titles include Hela (upcoming co-op adventure), Distant Bloom, Go Fight Fantastic, 100 Steps, and The Great Below, with Hela being the flagship upcoming title developed by the Windup Games studio (founded by former Unravel developers).

Differentiator

Problem solved

Functional benefit

Products and services

• Hela An upcoming co-op adventure game from a mouse's perspective set in Scandinavian-inspired landscapes, being developed by Windup Games (a Kinda Brave subsidiary founded by former Unravel developers) for PC and consoles.
• Distant Bloom A video game available for purchase on Steam, published under the Kinda Brave Entertainment portfolio.
• Go Fight Fantastic A video game available for purchase on Steam, published under the Kinda Brave Entertainment portfolio.
• 100 Steps A video game available for purchase on Steam, published under the Kinda Brave Entertainment portfolio.
• The Great Below A video game available for purchase on Steam, published under the Kinda Brave Entertainment portfolio.

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core.

• Windup GamescoreStrategic or Co-development PartnerA subsidiary studio founded by former Unravel developers, developing 'Hela' - a co-op adventure game from a mouse's perspective in Scandinavian-inspired landscapes, scheduled for PC and console release in 2026
• Ember TrailcoreStrategic or Co-development PartnerStudio under Kinda Brave Entertainment publishing group, featured on main company website
• Dinomite GamescoreStrategic or Co-development PartnerStudio under Kinda Brave Entertainment publishing group, featured on main company website

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Raw Fury: Swedish indie game publisher focused on premium indie titles. Comparable as a Swedish-headquartered indie publisher with similar title style (atmospheric, art-driven games).
• Thunderful Group: Swedish public game developer and publisher with multiple studios. Comparable as a Stockholm-listed indie game group structure, though larger scale.
• Embracer Group: Swedish public video game holding company that acquires and operates multiple game studios and IPs. Most directly comparable as a Stockholm-listed gaming roll-up with multi-studio structure.
• Paradox Interactive: Swedish public game developer and publisher specializing in strategy and management games. Comparable as a Stockholm-listed Nordic game publisher with self-publishing model.
• Modus Games: US-based indie game publisher with portfolio of premium indie titles. Comparable as a mid-sized indie publisher with similar revenue model and channel relationships.
• Frontier Developments: UK public game developer and publisher of simulation and management games. Comparable as a publicly listed indie/premium game group with multiple development studios.
• Coffee Stain Studios: Swedish game development studio (subsidiary of Embracer) known for indie hits like Goat Simulator and Satisfactory. Comparable indie co-op development pedigree and Scandinavian origin.
• Team17: UK-listed indie game publisher and developer (Worms IP). Comparable business model of indie-focused publishing with multiple studio partnerships.
• Stillfront Group: Swedish public mobile and online game holding company acquiring studios globally. Closely comparable as a Stockholm-listed gaming consolidator with multi-studio portfolio strategy.
• Devolver Digital: Public indie game publisher with portfolio of premium indie titles. Closely comparable business model of publishing distinctive indie games with strong creative identity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/kinda-brave

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kinda Brave