A Turkish Startup Secures $18 Million in Funding for Hit Casual Mobile Game
Agave Games, a startup based in Turkey, has recently received $18 million in funding for its popular casual mobile game, Find the Cat. The game, which challenges players to locate hidden cats in Where’s Wally-style drawings of increasing complexity, has already garnered over 10 million downloads since its launch in August. This funding round, led by Felix Capital and Balderton Capital with participation from E2VC, brings Agave’s total funding to $25.5 million and values the company at around $100 million.
This success comes at a time when casual mobile games are experiencing a surge in popularity and revenue generation. With the rise of word puzzles, physical puzzles, and farm-building games, Find the Cat has emerged as a standout title in this competitive market. Investors are optimistic about Agave Games’ future, comparing it to established studios like Tripledot.
CEO Alper Oner, along with co-founders Ali Baran Terzioglu, Burak Kar, and Oguzhan Merdivenli, decided to focus on casual games due to their passion for gaming and expertise in technology. Their previous game, Wonder Link, did not achieve the same level of success as Find the Cat, highlighting the unpredictable nature of the gaming industry. However, the team’s dedication to creating polished and engaging gameplay experiences has set them apart in the market.
Agave Games leverages AI technology in the creative process, using algorithms to generate initial game content that is then refined by human designers. This approach allows the company to streamline development and deliver high-quality visuals to players. While AI is not used for coding, Oner envisions incorporating more AI-driven personalization features into future projects.
Rob Moffat of Balderton Capital believes that Agave Games has the potential to become a $100 million revenue company, citing the game’s strong retention rates and innovative gameplay mechanics. The company’s focus on building a talented team and exploring new concepts for future titles positions them for continued success in the competitive mobile gaming market.
