Chronicles: Medieval developer faces imminent closure after losing funding: 'What makes it hurt is how close we are. Early access is in reach'

Chronicles: Medieval is an impressive looking open-world sandbox where players explore a dynamic Medieval world and fight in massive, authentic battles. It's been in development for more than four years and is due to launch into Steam early access early in 2027.

However, there is a very real chance this will no longer happen, as developer Raw Power Games suddenly faces closure after funding for its game was pulled.

On Friday, Raw Power Games posted a statement to Steam and on social media channels (via IGN), explaining how the studio has suddenly found itself in dire straits. "Due to circumstances outside our control, the necessary funding for Raw Power Games is no longer in place," the studio wrote. "Without it, we can't keep building Chronicles: Medieval, and right now the studio is at real risk of closing."

This appears to be a sudden development. Through October, the studio had been posting regular development updates, including an incredibly detailed deep dive on Medieval coats of arms and how they would appear in the game. None of it suggested a studio that's in trouble, so it seems this has caught Raw Power off guard.

By the sounds of it, Chronicles: Medieval isn't all that far away from being done, either. Or at least ready for its planned alpha launch: "What makes it hurt is how close we are. Early access is within reach," Raw Power Games writes in its statement. "The world we've been building for years is finally starting to feel alive, and we have so much we've been thrilled to show you."

Chronicles: Medieval first appeared on our radar last year, not without some controversy. At the time, Raw Power Games was super excited about using generative AI for its games. Not only was the studio using Midjourney to generate (terrible) concept art, but company COO Jakob Rasmussen told Danish newspaper Ingeniøren that genAI was "at the core of our vision", adding that "When the technology is ready—and perhaps a little sooner—we'll be willing to stick our necks out and put it into the game."

Yet the company quickly changed its tune on this point, with CTO Caspar Strandbygaard telling PC Gamer that Chronicles: Medieval was "100% handcrafted with no use of generative AI." Strandbygaard admitted that Raw Power was still "curious" about the technology, but regarding Chronicles specifically, he stressed that "every asset in the game is built by our extremely talented team of passionate developers. It is not generated by AI."

While the situation seems grim for Raw Power, the studio says that it is "not going down without a fight" and has urged fans of the game to "keep Chronicles: Medieval on your wishlist and keep talking about it." How much road Raw Power has remaining before it's forced to close isn't clear. But since the game is allegedly close to being in a releasable state, it may be able to secure new funding relatively soon.

2026 games: All the upcoming games
Best PC games: Our all-time favorites
Free PC games: Freebie fest
Best FPS games: Finest gunplay
Best RPGs: Grand adventures
Best co-op games: Better together