Coldwood Interactive
Coldwood Interactive is a Stockholm-based independent game studio (founded 2003, 1-10 employees) that develops narrative-led puzzle-platformer titles, most notably the Unravel and Unravel Two franchises, operating within Stillfront Group's multi-studio gaming portfolio.
- Company typePrivate
- Founded2003
- HeadquartersStockholm, Sweden
- Headcount1–10
- GTM typeB2C
- OfferingSoftware
What Coldwood Interactive does
Coldwood Interactive is a Stockholm, Sweden-based independent game development studio founded in 2003, operating with a small team of 1-10 employees. The studio is known for developing the Unravel and Unravel Two puzzle-platformer franchises, which are narrative-led games centered on a yarn-based character traversing physics-driven environments. Coldwood operates as a privately held for-profit company within Stillfront Group's multi-studio portfolio, a Swedish publicly traded parent that aggregates 100+ active games and serves 38 million monthly active players across its portfolio.
The studio's products are distributed via digital storefronts, including Steam and console platforms; Unravel and Unravel Two were originally published by Electronic Arts, positioning Coldwood historically as a developer-publisher relationship rather than a self-publishing entity. The studio's business model is best characterized as project-based premium game development, where revenue is generated through unit sales and royalties rather than the free-to-play or live-service models that dominate much of its parent group's portfolio. No app, API, SDK, or platform offering is documented in the input data.
Direct company-specific information is limited. The bulk of disclosed operational detail — including headcount, technology stack, customer segments, revenue mechanics, and strategic context — pertains to parent Stillfront Group AB (publ) rather than to Coldwood Interactive specifically. As a result, assessment of Coldwood's standalone scale, capital structure, and growth signals is constrained, and any conclusions about Coldwood independent of its parent should be treated with low confidence.
Coldwood Interactive firmographics
Firmographics- Name
- Coldwood Interactive
- Legal name
- Coldwood Interactive
- Website
- https://coldwood.com
- Company type
- Private
- Founded year
- 2003
- Headcount range
- 1–10 employees
- Short description
- Coldwood Interactive is a Stockholm-based independent game studio (founded 2003, 1-10 employees) that develops narrative-led puzzle-platformer titles, most notably the Unravel and Unravel Two franchises, operating within Stillfront Group's multi-studio gaming portfolio.
- Ownership category
- akta.pro rank
Coldwood Interactive industry classification
Industry- Product category
- Video Game Development
- NAICS
- Software Publishers (5132)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- AAA & Premium Game Studios (PC/Console) (MPAFAAAA)
Keywords
Where Coldwood Interactive is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices1 record
Markets served
Coldwood Interactive business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Digital Game Sales & In-Game Purchases: Free-to-play games monetized through in-game purchases of virtual goods, premium content, and optional subscriptions. Revenue generated from large active player base across multiple titles.
- Game Franchises Licensing: Established game franchises generating recurring revenue through continuous player engagement and monetization across PC, mobile, and web platforms.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Coldwood Interactive product offering
Product offeringCore offering
Coldwood Interactive is a small Stockholm-based video game development studio that creates puzzle-platformer games, most notably the Unravel and Unravel Two series. The studio designs and develops premium games sold through digital distribution channels to individual consumers, focusing on narrative-driven, physics-based gameplay.
Differentiator
Problem solved
Functional benefit
Products and services
- Unravel
- Unravel Two
Quantifiable outcome
- 38 million people playing games each month
Companies that use Coldwood Interactive
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Coldwood Interactive technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Coldwood Interactive partnerships and signals
Strategic signalScale indicators4 records
Recent moves4 records
Coldwood Interactive competitors and assessment
Company assessmentDirect peers
- Hazelight Studios: Stockholm-based independent studio of comparable size (~60 people) co-founded by Josef Fares, focused on premium co-op narrative games (A Way Out, It Takes Two). Highly comparable to Coldwood in geography, scale tier, and creative premium-product positioning.
- Playdead: Danish indie studio behind Limbo and Inside — premium atmospheric puzzle-platformers with high critical acclaim. Closest direct analog in product category and creative positioning to Unravel.
- Tarsier Studios: Swedish developer (Malmö) known for Little Nightmares and Statik — premium puzzle-platformers with a strong art-driven identity. Direct comparable in genre, country, and indie-to-mid premium studio tier.
- Moon Studios: Austrian indie studio (Ori and the Blind Forest, Ori and the Will of the Wisps) — premium single-player platformer/action games with strong art direction. Comparable as an independent premium platformer developer.
Regional players
- Starbreeze Studios: Swedish game developer (Payday, The Darkness) with a similar Stockholm footprint and premium PC/console heritage. Relevant regional comparable for studio structure and capital markets exposure.
- Thunderful Games: Swedish game developer and publisher based in Gothenburg, operating multiple internal studios (Image & Form, Zoink, etc.). Comparable as a Swedish premium indie platform — relevant for talent market and consolidation dynamics.
- Frictional Games: Swedish indie developer (Amnesia, SOMA) — premium atmospheric games with a small team and self-publishing model. Comparable as a Swedish premium indie studio operating with limited headcount.
Broad incumbents
- Avalanche Studios Group: Much larger Swedish developer/publisher (Just Cause, Mad Max, theHunter: Call of the Wild). Comparable geography and genre breadth, but operating at meaningfully greater scale — relevant as a broader Swedish premium-game incumbent.
- Stillfront Group: Swedish publicly-listed multi-studio gaming operator. Relevant as a strategic acquirer/operator of premium and free-to-play studios, and named in the source data corpus adjacent to Coldwood — useful as a public-market reference for Swedish studio consolidation.
Emerging players
- Image & Form / SteamWorld (Thunderful): Swedish studio behind the SteamWorld franchise — premium puzzle-platformer/strategy games with strong digital distribution presence. Direct genre overlap with Coldwood's Unravel and comparable indie-premium positioning.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks4 records
Key highlights3 records
Customer concentration
Coldwood Interactive social profiles
Digital presenceColdwood Interactive financial estimates
Financial estimateRevenue estimate
Valuation estimate
Coldwood Interactive leadership team
Management profileNumber of profiles
Coldwood Interactive funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Coldwood Interactive 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 Coldwood Interactive
What does Coldwood Interactive do?
Coldwood Interactive is a small Stockholm-based video game development studio that creates puzzle-platformer games, most notably the Unravel and Unravel Two series. The studio designs and develops premium games sold through digital distribution channels to individual consumers, focusing on narrative-driven, physics-based gameplay.
When was Coldwood Interactive founded?
Coldwood Interactive was founded in 2003. It employs 1 to 10 people.
Where is Coldwood Interactive based?
Coldwood Interactive is headquartered in Stockholm, Sweden, in the Europe region.
How does Coldwood Interactive make money?
Two revenue lines are on record. Digital Game Sales & In-Game Purchases are the primary driver. The others are game Franchises Licensing.
Who are Coldwood Interactive's main competitors?
Direct peers on record are Hazelight Studios, Playdead, Tarsier Studios and Moon Studios. Regional players are Starbreeze Studios, Thunderful Games and Frictional Games. Broad incumbents are Avalanche Studios Group and Stillfront Group. Image & Form / SteamWorld (Thunderful) is listed as an emerging player.
Does Coldwood Interactive have an API?
No public API is recorded for Coldwood Interactive.
What industry is Coldwood Interactive in?
Coldwood Interactive's product category is Video Game Development. Its primary akta.pro industry code is MPAFAAAA, AAA & Premium Game Studios (PC/Console). Its NAICS code is 5132 and its SIC code is 7372.