Squido Studio
12 known investors
Montreal VR game studio building DigiGods, a social mixed-reality sandbox, after its debut title No More Rainbows.
Also known as Squido · Squido Studios
Investors · 12
Also in the syndicate · 9
Company profile
researched Aug 2026Squido Studio is a virtual reality video game development studio based in Montreal, Canada, founded in 2019. It describes a "gameplay-first" development approach and states that it crafts unique VR games. Its debut VR title, No More Rainbows, is an adventure platformer with an inverted good-versus-evil storyline built around a custom locomotion system. The studio's current focus is DigiGods (also presented as a free-to-play social sandbox VR/MR project), a multiplayer sandbox described as a mixed-reality social sandbox and social extended reality platform.
DigiGods is positioned as a real-time multiplayer physics sandbox with drag-and-drop creation tools intended for users of any skill level, cloud-supported instant experience loading, and hand-tracking plus mixed-reality integration that blends virtual and physical environments. Players can build objects and environments, make them playable, and switch between created experiences such as horror mansions, low-gravity soccer matches or FPS deathmatches; monthly thematic content adds art directions, building blocks and cosmetics. Company leadership has cited fast content delivery on platforms such as TikTok as an initial inspiration and describes the aim as a Roblox-style creation ecosystem without complex game tools, built VR-first.
The company is led by CEO and co-founder David Chartrand, with Philippe Cournoyer as co-founder. Before its VR work, the Squido team developed educational mobile games for clients; the company states those titles reached more than 1,000,000 players/students across Quebec, Canada, with more than 60,000,000 games played. Its site also lists sections for a "Squid Syndicate," a shop, and open jobs, and is published in English and French.
Founding story
The studio was founded in 2019 in Montreal by a team described as having over a decade of friendship together and two prior successful startups. Co-founders David Chartrand and Philippe Cournoyer are described as having a track record in XR. The team initially developed educational mobile games on a client basis before moving into VR development.
Business model
Squido Studio develops and publishes its own VR/mixed-reality games, distributed through VR storefronts including the Meta Quest Store. Its current title DigiGods is described as a free-to-play social sandbox, and the company also operates an online shop. Earlier in its history the studio developed educational mobile games on a client basis.
Game sales and free-to-play monetization on VR platforms, supplemented by merchandise via the company shop; No More Rainbows is reported to have generated over $2 million in revenue in its first year. Development has also been supported by public and institutional funding, including Canada Media Fund contributions, and by venture investment.
Traction
No More Rainbows reportedly generated more than $2 million in its first year and reached over 500,000 players. DigiGods, in Early Access as of the $3 million round announcement, had attracted more than 100,000 players and held a 4.8/5 rating from over 8,000 user reviews on the Meta Quest Store, with a stated target of one million players by year end. The studio's earlier educational mobile games reportedly reached over 1,000,000 players/students with more than 60,000,000 games played. Headcount grew from 16 to 22 people around the time of the $3 million round; the company's About page cites a team of 20.
Latest developments
In 2025 the studio published a series of DigiGods updates: a Carnival update (16 May 2025), the Mystic Builders update (30 May 2025) and DigiGods 2.0, described as a full reboot (3 July 2025). CEO David Chartrand was listed as a featured speaker at a TechTO Montreal gaming tech market overview event in Montreal in October 2025, where the company was described as having raised over $4 million.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
An independent Montreal-based VR studio operating in the social VR/sandbox segment, positioning DigiGods against pre-built social worlds by offering user creation tools; an investor characterizes it as a next-generation social VR sandbox developer. As of October 2025 the company was described as having raised over $4 million in funding.
Stated differentiators include a gameplay-first development philosophy, an intuitive VR locomotion system in No More Rainbows, and in DigiGods the ability for players to build and modify multiplayer experiences in minutes with drag-and-drop tools and switch between them, backed by physics-based interaction, hand tracking and cloud loading. The studio also emphasizes transparency with players and community-driven playtesting.
Technology
VR and mixed-reality game development with an emphasis on locomotion design (No More Rainbows' custom locomotion system) and spatial computing. DigiGods combines drag-and-drop world building tools, a real-time multiplayer physics sandbox, advanced hand tracking, mixed-reality passthrough-style blending of virtual and physical environments, and cloud support intended to eliminate load times between experiences.
Go-to-market
Distribution through VR storefronts, notably the Meta Quest Store, where DigiGods launched in Early Access. Growth plans cited at the time of the $3 million round included major content updates, partnerships, player perks and influencer collaborations, plus collaborations with gaming and entertainment brands introducing new in-game building elements. Support and storefront visibility from Meta are described as important to the studio's reach. The studio also builds games alongside its community through public playtesting of features and mechanics.
Consumer VR and mixed-reality players on headsets such as Meta Quest; DigiGods is explicitly aimed at Gen Z and Gen Alpha users who create and socialize in virtual spaces. The studio's earlier educational mobile games targeted students in Quebec schools.
Geography
Headquartered in Montreal, Quebec, Canada, with plans to expand the Montreal team; games are distributed globally via VR storefronts, and the studio's site is offered in English and French. Its educational games were used across Quebec.
History
Squido began in Montreal building educational mobile games for clients, which it says were played by more than 1,000,000 students in Quebec. It then released its first VR game, No More Rainbows. In 2021 it received funding from the Canada Media Fund to expand its team and move to full-time work during No More Rainbows' development. In 2023 it announced a CA$1.5 million round led by the Canada Media Fund to develop a mixed-reality multiplayer game. Following No More Rainbows' release, the team refocused on a free-to-play social sandbox VR/MR title, and in late 2024 announced a $3 million round led by Triptyq Capital to scale DigiGods, which was then in Early Access. Through 2025 the studio shipped DigiGods content updates, including a Carnival update (May 2025), a Mystic Builders update (May 2025) and a 2.0 reboot (July 2025).
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 7
launches, deals, and filingsSquido Studio founder and CEO David Chartrand was a featured founder speaker at TechTO Montreal's Gaming Tech market overview event at Espace CDPQ in Montreal.
The studio announced $3 million in funding to accelerate development and global rollout of DigiGods, its social XR platform. Triptyq Capital led, with Grishin Robotics, FJ Labs, Hartmann Capital, Fairway Capital, Earthling VC and the Canada Media Fund participating; the CMF contributed $1.1M through its Innovation in Experimentation Program. Proceeds are earmarked for team expansion in Montreal.
$3M source ↗
The Canada Media Fund led a CA$1.5 million investment through its Experimentation Stream's Innovation and Experimentation program, with partners including Preview Labs, La Guilde de jeu vidéo du Québec, OVHcloud, Equinox Games, National Research Council Canada, Creature's Doug North Cook and DigiHub Shawinigan. The funds were directed to development of an upcoming mixed reality multiplayer game.
Squido Studio received funding from the Canada Media Fund to expand its team and transition to full-time work during development of No More Rainbows.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- Squido Studio - Crafting unique VR gamessquidostudio.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Squido Studio do?
- Montreal VR game studio building DigiGods, a social mixed-reality sandbox, after its debut title No More Rainbows.
- Who are Squido Studio's investors?
- Squido Studio's investors include Grishin Robotics, Hartmann Capital, Triptyq Capital.