Finnish mobile game outfit Rovio has invested approximately US$5.9 million (€5 million) in Helsinki-based Gutsy Animations to support the growth of the Moominvalley IP.

The investment will help fund the creation of new content and projects based on the popular Finnish brand. It’s also earmarked for supporting the production of Gutsy’s flagship series Moominvalley, which costs roughly US$1.1 million per episode to make, according to distributor The PGS Company.

A third season of the series, which follows the exploits and adventures of a family of adorable trolls, is currently in production. The first two seasons (26 x 22 minutes) are airing worldwide on broadcasters including YLE (Finland), Sky (UK), NHK (Japan), ZDF (Germany), RTS (Switzerland), RTP (Portugal) and RAI (Italy).

Gutsy has been busy expanding the Moominvalley brand with new content, including a recently announced holiday-focused spinoff called The Woodies of Moominvalley (24 x three minutes). Aimed at preschoolers, the CG-animated short series follows a clan of tiny woodland creatures who often appear in the Moominvalley series, as they prepare for Christmas.

Rovio, the studio behind Angry Birds, has also acquired exclusive rights to develop and publish video games based on the Moominvalley brand from IP owner Moomin Characters and Swedish licensing agency Rights & Brands. A mobile game is in development now and expected to launch later this year.

The Moominvalley brand earns around US$1 billion overall each year in licensing revenue, according to PGS.