Moblyng, a developer focused on cross-platform HTML5 development technology, has shut its doors despite over $10 million in funding and work with Playdom and Lolapps. Despite this setback, Moblyng CEO Stewart Putney thinks that HTML5 will remain vital to future game development on several platforms.

“I am very proud of the work we did, the HTML5 games are still live and we have a growing base of active users,” said Putney. “I remain very confident HTML5 will be a great platform for social games and media, it is simply a question of when.”

Source: VentureBeat