Business

Domestic game company YAMY Studio received an investment from UP Venture Capital with a valuation of $4 million

Domestic game company YAMY Studio, which develops more than 120 mobile games, received an investment of $4 million from London-based UP Venture Capital.

Domestic game company YAMY Studio, which develops more than 120 mobile games, received an investment of $4 million from London-based UP Venture Capital. The game studio, which was founded in 2020 by Yunus Alkan, Mikdat Dogru and Ahmet Ferhat Akben and continues its activities in Istanbul, reached 1 million downloads in 2021 with its game called Hoop 4, and in 2022 it exceeded the 2 million threshold with the game called Parents Run.

YAMY Studio Co-Founder Ahmet Ferhat Akben stated that as YAMY Studio, they have developed over 120 games to date and said that as users start to spend more time in mobile games, the mobile game type known as hybrid-casual also gains new features. Underlining that the hybrid-casual genre, which is played longer than hyper-casual, is constantly updated and offers players reasons to play again, will be one of the rising trends of 2023, Akben said that with the investment received, they will grow the team with qualified talents and work to publish the games they have developed with their own brands.

Emphasizing that the development of mobile games marks a breaking point for the video game industry, Akben stated that they will continue to work with the vision of becoming one of the leading companies in the mobile game industry that can create a profitable business model for players, publishers and studios with the investment they have received.

UP Venture Capital Founding Partner Omer Uyan said that as UP Venture Capital, they invested in YAMY Studio in line with their strategy of investing in sectors with high growth potential and stated that with this investment, they aim to expand their portfolio, which consists of companies operating in the gaming, chemistry, capital markets and sustainable energy sectors, by making investments in existing sectors and new sectors.

Source: Webrazzi / Translated by Irem Yildiz

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button