Agave Games Scores $18M in Series A to Scale ‘Find My Cat’ and New Ventures

Agave Games, a rapidly growing mobile gaming startup based in Turkey, has successfully raised $18 million in Series A funding, bringing its total funding to an impressive $25.5 million. This capital injection values the company at approximately $100 million post-money, highlighting its potential in the competitive mobile gaming sector. Agave Games was founded by a group of high school friends—Alper Oner, Burak Kar, Baran Terzioglu, and Oguzhan Merdivenli—who have evolved into experienced game developers with a shared passion for creating innovative and engaging gaming experiences.

The company first garnered significant attention in August 2024 when it released a “Where’s Wally”-style game, which experienced a highly successful launch. The game, which involves players locating hidden characters within complex scenes, garnered an impressive 10 million downloads within its first quarter. This rapid growth is a testament to Agave Games’ ability to design compelling and addictive mobile games that resonate with a wide audience.

The Series A funding round was co-led by two prominent venture capital firms, Felix Capital and Balderton Capital, with participation from E2VC, all of whom are returning investors. Felix Capital, known for its focus on technology-driven companies, and Balderton Capital, with its extensive portfolio of gaming industry leaders, have expressed strong confidence in Agave Games’ future prospects. Balderton Capital, in particular, has an impressive history in the gaming industry, having invested in now-unicorn Dream Games, as well as other notable companies such as Codemasters, Big Fish Games, Mojiworks, Natural Motion, and Wooga. These connections and support provide Agave Games with valuable resources to scale its operations and reach a broader audience.

Agave Games’ success is part of a larger trend within Turkey’s thriving gaming ecosystem, which is increasingly recognized as a global hub for mobile and AI-driven game development. In recent years, Turkey has seen a wave of gaming companies securing significant investments, demonstrating the country’s growing influence in the international gaming market. For example, Spyke Games raised $50 million in a Series B funding round in April 2024, bringing its total funding to over $100 million. Other Turkish gaming startups like Grand Games, Mage Games, and Fuse Games have also attracted substantial investments, further solidifying Turkey’s reputation as a leader in mobile gaming.

This Series A funding round will provide Agave Games with the necessary resources to expedite the development of new gaming titles, significantly improve its marketing efforts, and refine its user acquisition strategies. By leveraging these funds, the company aims to expand its global reach and attract a larger player base across multiple regions. Agave Games’ innovative approach to game design, which emphasizes creating engaging and immersive experiences, combined with the support of experienced investors, sets the stage for the company to further scale its operations. This positions Agave Games to secure an even greater share of the rapidly growing global mobile gaming market, where competition continues to intensify, and the demand for fresh, engaging titles is ever-present. With the backing of Felix Capital, Balderton Capital, and E2VC, the company has the financial and strategic support to execute its ambitious plans and establish itself as a leading player in the mobile gaming industry.

The success of Agave Games underscores the growing importance of Turkey in the global gaming ecosystem. With a dynamic and supportive environment for gaming startups, the country is poised to become an even more prominent player in the mobile gaming industry, with Agave Games leading the charge. As the gaming landscape continues to evolve, Agave Games’ commitment to creating unique, high-quality gaming experiences will likely keep it at the forefront of this fast-paced and ever-changing sector.