# Shrapnel

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shrapnel

- Industry: Software
- Headquarters: Seattle, US
- Website: www.shrapnel.com
- Total disclosed funding: $40M
- Latest round: Series A (Aug 13, 2025)
- Investors on record: 7

## About

Based in Washington, US, and founded in 2020, Neon Machine, trading under the name Shrapnel, develops online games and offers a creative gaming experience. Leveraging blockchain technology, the company introduced SHRAPNEL, a blockchain-enabled competitive multiplayer first-person shooter. In August 2025, Neon Machine, Inc. raised USD 19.5 million in venture funding led by new investor Blockchain Game Partners, Inc, with participation from returning investors Griffin Gaming Partners and Polychain Capital. The company provides SHRAPNEL, a blockchain-enabled competitive multiplayer game that offers players true ownership by enabling them to create, curate, and compete within a vibrant community. It combines combat, creativity, and connectivity, allowing users to build and decide the game's future. This game has several NFT in-game assets, such as weapon parts, cosmetics, and weapons, which are available on the Shrapnel’s Avalanche subnet, a private crypto network running on Avalanche. It has a team with extensive experience in transmedia, virtual production, gaming-as-a-service, and blockchain production, such as Halo, Call of Duty, and Star Wars. The company will use the August 2025 funding for further development, support its global launch and launch in China.

## Funding rounds

- Series A, Aug 13, 2025, $20M — Polychain Capital, Griffin Gaming Partners, Blockchain Game Partners, Inc
- Series A, Oct 25, 2023, $20M — Brevan Howard, Franklin Templeton, Polychain Capital, Griffin Gaming Partners, IOSG Ventures, Tess Ventures

## Investors

- Brevan Howard — Series A
- Franklin Templeton (https://capitalatlas.ai/funds/franklin-templeton) — Series A
- Polychain Capital (https://capitalatlas.ai/funds/polychain-capital) — Series A
- Griffin Gaming Partners (https://capitalatlas.ai/funds/griffin-gaming-partners) — Series A
- IOSG Ventures (https://capitalatlas.ai/funds/iosg-ventures) — Series A
- Tess Ventures (https://capitalatlas.ai/funds/tess-ventures) — Series A
- Blockchain Game Partners, Inc — Series A