Moonhood
Moonhood is a privately held Swedish indie game studio founded in 2023 by the creators of Lost in Random, developing handcrafted clay-based dark fantasy adventure games such as The Midnight Walk for PC, console, and VR consumers.
- Company typePrivate
- Founded2023
- HeadquartersGothenburg, Sweden
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Moonhood does
Moonhood AB is a privately held Swedish indie game studio founded in 2023 in Gothenburg by Klaus Lyngeled and Olov Redmalm, the award-winning creators of Lost in Random and Ghost Giant. The studio's core product is The Midnight Walk, a dark fantasy first-person adventure game built entirely from real-life clay sculptures that are 3D-scanned into the game engine and animated in a stop-motion style, playable in both flatscreen and VR (PS VR2, PC VR). The title launched on PS5 and Steam in May 2025 and was released on Nintendo Switch 2 and GOG in March 2026 at a $29.99 price point, distributed through publisher Fast Travel Games.
The studio monetizes through three revenue streams: one-time digital game sales across four storefronts, physical merchandise including Potboy plushies (via Youtooz), vinyl soundtracks (via Lost in Cult), and a 500-unit signed Collector's Edition (via Pixnlove), plus licensing royalties from a TV/Film adaptation deal with Story Kitchen announced in June 2025. Distribution is fully digital and product-led, with marketing primarily through Instagram, X, TikTok, YouTube, and earned media. The studio operates with 11-50 employees, no external institutional investors, and a horizontal B2C customer base of console and PC gamers interested in narrative-driven, artistic, and VR experiences.
The Midnight Walk has received critical recognition including a win at The Game Awards 2025, BAFTA Best Debut nomination (2026), Steam Awards VR Game of the Year, Horror Game Awards VR GOTY, and D.I.C.E. nominations for art direction and animation. Moonhood's strategic focus is on handcrafted game development as an art form, with IP expansion through merchandise and media adaptation rather than rapid title throughput.
Moonhood firmographics
Firmographics- Name
- Moonhood
- Legal name
- MoonHood AB
- Website
- https://moonhood.se
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Moonhood is a privately held Swedish indie game studio founded in 2023 by the creators of Lost in Random, developing handcrafted clay-based dark fantasy adventure games such as The Midnight Walk for PC, console, and VR consumers.
- Ownership category
- akta.pro rank
Moonhood industry classification
Industry- Product category
- Indie Video Games
- SIC
- Services-Miscellaneous Amusement & Recreation (7990)
- akta.pro primary industry
- VR/AR/XR Game Studios (MPAFAAAE)
Keywords
Where Moonhood is headquartered
LocationHeadquarters
- HQ city
- Gothenburg
- HQ country
- Sweden
- HQ region
- Europe
Offices1 record
Markets served
Moonhood business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Game Sales: Direct sales of The Midnight Walk on digital platforms including Steam, PlayStation Store, GOG, and Nintendo Switch 2. Revenue is generated through one-time purchase model.
- Merchandise Sales: Sale of physical merchandise including Potboy plushies (via Youtooz), vinyl soundtracks (via Lost in Cult), and Collector's Editions featuring exclusive figurines (via Pixnlove).
- Licensing Royalties: TV/Film adaptation rights licensed to Story Kitchen, the production company behind Sonic the Hedgehog and Tomb Raider adaptations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Standard Digital Edition - $29.99 |
Go-to-market motion1 record
Distribution channels7 records
Marketing channels6 records
Moonhood product offering
Product offeringCore offering
Moonhood is an indie game studio that develops and self-publishes The Midnight Walk, a dark fantasy first-person adventure game built entirely from real-life clay sculptures that are 3D-scanned and animated in a stop motion style. The studio sells the game directly to consumers on Steam, PlayStation Store, GOG, and Nintendo Switch 2 (with PS VR2 and PCVR support), and generates additional revenue through merchandise (Potboy plushie, vinyl soundtrack, Collector's Edition) and IP licensing for TV/film adaptation.
Product overview
Moonhood is an artistic video game studio offering a single core product - The Midnight Walk - supplemented by merchandise and licensing extensions. The Midnight Walk is a dark fantasy adventure built using real-life clay sculptures that are 3D-scanned and animated in stop motion style, featuring VR support. The company has expanded the IP through a Collector's Edition of the PS5 version, a vinyl soundtrack collaboration with Lost in Cult, and a Potboy plushie through Youtooz. A TV/Film adaptation is in development with Story Kitchen.
Differentiator
Problem solved
Functional benefit
Products and services
- The Midnight Walk A dark fantasy first-person adventure game built entirely from real-life clay sculptures that are 3D-scanned into the game engine and animated in stop motion style. Players guide 'The Burnt One' alongside companion Potboy through five tales of fire and darkness. Fully playable in both flatscreen and VR (PS VR2 and PCVR) modes. Targeted at narrative-driven, artistic, and VR-capable gamers on PS5, PC, and Nintendo Switch 2.
- The Midnight Walk Collector's Edition (PS5) Limited PS5 Collector's Edition of The Midnight Walk featuring an exclusive 17cm Potboy figurine hand-signed by founders Klaus Lyngeled and Olov Redmalm, limited to 500 units, distributed exclusively by Pixnlove.
- The Midnight Walk Vinyl Soundtrack Two-LP 'Burnt Orange' vinyl soundtrack of The Midnight Walk featuring music by Joel Bille and Bortre Rymden, with exclusive gatefold artwork from MoonHood concept artist Victor Becker. Produced in collaboration with Lost in Cult.
- Potboy Plushie 9-inch plush toy of the Potboy lantern creature character from The Midnight Walk, produced by merchandise partner Youtooz. Features the signature flame atop its head.
Companies that use Moonhood
Customer profileSegments1 record
Ideal customer profiles3 records
Moonhood technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Moonhood partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Lost in CultminorLost in Cult is producing a vinyl soundtrack release of The Midnight Walk on two 'Burnt Orange' LPs with exclusive gatefold artwork from MoonHood concept artist Victor Becker.
- PixnloveminorPixnlove is the exclusive distributor for The Midnight Walk Collector's Edition on PS5, featuring an exclusive 17cm Potboy figurine hand-signed by Klaus Lyngeled & Olov Redmalm, limited to 500 units.
- YoutoozminorYoutooz is producing Potboy plush merchandise for The Midnight Walk, offering a 9-inch plushie of the game's lantern creature character.
- Story KitchencoreStory Kitchen is a production company known for high-profile adaptations like Sonic the Hedgehog and Tomb Raider. They are collaborating with Moonhood to bring The Midnight Walk to film and television. The partnership is in early stages, announced via VentureBeat.
- Fast Travel GamescoreFast Travel Games is a publisher based in Stockholm that partnered with Moonhood to help bring The Midnight Walk to market. This is Moonhood's primary publishing partnership for their debut game, providing distribution and publishing expertise.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Moonhood competitors and assessment
Company assessmentDirect peers
- Ember Lab: US indie studio behind Kena: Bridge of Spirits, which similarly relies on handcrafted animation, distinctive visual style, and award recognition — directly comparable as a small-team artistic action-adventure developer.
- Image & Form: Swedish developer of the SteamWorld series, now under Thunderful, and a clear peer for small-team, stylised, family-friendly Nordic indie development.
- Fast Travel Games: Stockholm-based VR-focused publisher and developer; current publishing partner for The Midnight Walk and a directly comparable VR-first studio in the same Nordic cluster.
- Resolution Games: Stockholm-based studio focused exclusively on VR titles (Demeo, Angry Birds VR). Comparable as a fellow Nordic VR-first studio targeting the same immersive-hardware customer base.
- Hazelight Studios: Swedish indie studio (It Takes Two) of similar size, also based in the Nordics, with comparable artistic, narrative-first positioning and award recognition.
- Ready at Dawn: VR-specialist studio (Lone Echo, Echo VR) with a comparable premium-VR positioning and similar pursuit of artistic, narrative-driven VR experiences for PlayStation and PC VR.
- Zoink Games: Swedish indie studio co-founded by Klaus Lyngeled and Olov Redmalm, the same team behind Moonhood, and the original developer of Lost in Random and Ghost Giant. Most directly comparable peer because it shared the founders and aesthetic philosophy.
- Tarsier Studios: Swedish indie studio known for Little Nightmares, sharing Moonhood's profile of small Nordic teams building stylised, narrative-driven adventure games for console and PC.
Broad incumbents
- Thunderful Group: Swedish game publisher and parent of Zoink Games and Image & Form. Comparable as the publishing/development ecosystem in Gothenburg that produced and distributed the founders' prior work.
- Remedy Entertainment: Nordic narrative-driven game studio (Control, Alan Wake 2). Comparable as a larger Nordic peer emphasising artistic, story-first AAA-quality games for console and PC.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Moonhood social profiles
Digital presenceMoonhood financial estimates
Financial estimateRevenue estimate
Valuation estimate
Moonhood leadership team
Management profileNumber of profiles
Profiles2 records
Moonhood funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Moonhood 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 Moonhood
What does Moonhood do?
Moonhood is an indie game studio that develops and self-publishes The Midnight Walk, a dark fantasy first-person adventure game built entirely from real-life clay sculptures that are 3D-scanned and animated in a stop motion style. The studio sells the game directly to consumers on Steam, PlayStation Store, GOG, and Nintendo Switch 2 (with PS VR2 and PCVR support), and generates additional revenue through merchandise (Potboy plushie, vinyl soundtrack, Collector's Edition) and IP licensing for TV/film adaptation.
Is Moonhood a public or private company?
Moonhood is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Moonhood founded?
Moonhood was founded in 2023. It employs 11 to 50 people.
Where is Moonhood based?
Moonhood is headquartered in Gothenburg, Sweden, in the Europe region.
How does Moonhood make money?
Three revenue lines are on record. Game Sales are the primary driver. The others are merchandise Sales and licensing Royalties.
Who are Moonhood's main competitors?
Direct peers on record are Ember Lab, Image & Form, Fast Travel Games, Resolution Games, Hazelight Studios, Ready at Dawn, Zoink Games and Tarsier Studios. Broad incumbents are Thunderful Group and Remedy Entertainment.
Does Moonhood have an API?
No public API is recorded for Moonhood.
What industry is Moonhood in?
Moonhood's product category is Indie Video Games. Its primary akta.pro industry code is MPAFAAAE, VR/AR/XR Game Studios. Its SIC code is 7990.