5 Gaming startups that have already made their mark in 2021
The Gaming industry appears to be on an upward sprint this year, following two big acquisitions in 2020 (Peak Games and Rollic). This is indicated by a substantial increase in the number of funding rounds across Emerging Venture Markets. For instance, Gaming startups registered a total of 30 rounds in FY 2020, while they have already closed 28 deals five months into 2021. The largest transaction involving a startup from the sector in 2021 YTD was sized at $60M, while this value only stood at $4M in 2020.
Interestingly, Turkey is making notable progress in establishing itself as a global Gaming hub. Of the 28 funding rounds closed by Gaming ventures, 22 are accredited to Turkish startups. On the other hand, venture investments poured into Gaming startups in Turkey went from a meagre $6.7M in 2020 to $131M in Q1’21. The quarter also saw Gaming account for a fifth of total investments and 29% of all venture transactions in the country.
All the Top 5 funding rounds in the industry in 2021 YTD have been led by startups operating out of Turkey. Here’s a quick look at these five upcoming star ventures:
1. Loop Games
Reflecting increased investor confidence in the sector, this startup raised $60M in February 2021- the highest recorded investment poured into a Gaming startup across Emerging Venture Markets, as per MAGNiTT’s data. This Series A round was funded by established startup Tilting Point.
2. Dream Games
Dream Games’ Series A funding round, worth $50M, brought forth the second largest Gaming deal recorded thus far in the year. All three of its investors are based outside of the country, reflecting the attractiveness of Turkish Gaming expertise to investors around the world. VC firm Makers Fund is headquartered in Singapore, Balderton Capital in the United States of America and Index Ventures in the United Kingdom. Previously, the same investors poured in $7.5M to support the startup’s Seed round.
May 2021 saw the Gaming venture Panteon raise $10M, backed by local investor Teknasyon. The startup was founded in 2012 and is focused on creating a top-tier mobile gaming experience.
4. Fomo Games
Game developer Fomo Games raised a Series A round worth $8M in March 2021. The round was funded by mega French app developer and publisher Voodoo that specifically serves casual mobile gamers.
5. Ace Games
Founded in 2018, Ace Games raised $7M in its Seed round. According to MAGNiTT’s proprietary data, this is only the second largest funding received by a Gaming startup in its seed stage of fundraising. Dream Games' $7.5M funding round in 2019 was the largest.
Find out how the Gaming industry in Turkey compared to other sectors in Q1 2021 by downloading our Turkey Q1 2021 Venture Investment Report.
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