Turkish mobile gaming startup Agave Games has raised $18 million Series A funding. This brings the company’s funding to $25.5 million with a post-money valuation of around $100 million.
The company was founded by former high school friends and now experienced game developers – Alper Oner, Burak Kar, Baran Terzioglu and Oguzhan Merdivenli.
It published a Where’s Wally-style game in August this year, which was downloaded 10 million times in its first quarter.
Felix Capital and Balderton Capital co-led the round with E2VC participating. All three are returning investors.
Balderton Capital, previously participated in now unicorn Dream Games’ seed round, and counts Codemasters, Big Fish Games, Mojiworks, Natural Motion, and Wooga amongst its portfolio.
Turkey is known for its leading gaming ecosystem, with a focus on mobile and AI-driven game development. Spyke Games secured $50 million in April 2024, bringing their total funding to over $100 million, and we also saw the funding of Grand Games ($3 million). Mage Games received ($3.5 million), and Fuse Games ($2 million).