Mobile gaming start-up Chobolabs raises $1.3m

US Mobile gaming start-up Chobolabs has raised $1.3m in funding.

The studio, formed by ex-Gameloft and Ubisoft developers, is currently working on a competitive shooter for mobile platforms.

The investment round was led by Eric Schmidt’s Innovation Endeavors, alongside the likes of Western Technology Investment CEO Maurice Werdegar, XG Ventures and Asurion founder Jim Ellis.

“The growth of competitive synchronous multiplayer gaming has not only created multiple billion-dollar PC and console-based franchises like Call of Duty and League of Legends, but also resulted in the $1B Twitch acquisition,” said Chobolabs CEO Deyan Vitanov.

“I am convinced that over the next 12-to-18 months competitive gaming will emerge on mobile and capture core gamers’ attention.”