Istanbul-based mobile gaming startup Veloxia, founded by Tugay Alyildiz, Melih Gundogdu and Mehves Altay, has completed its fourth investment round.
Istanbul-based mobile gaming startup Veloxia, which is in its 4th year of establishment, announced that it has received a new investment with bridge tour through egirisim. With this round, the venture has received its fourth investment to date.
The mobile game company, founded in 2019 by Tugay Alyildiz, Melih Gundogdu and Mehves Altay, started a new bridge investment round in July; In addition to its current investors Collective Spark and Bogazici Ventures, APY Ventures, Invest 101 (the fund in partnership with the Turkish Development Fund and ODTU Teknokent) took its place among the investors. Financial details were not disclosed during this round.
The venture was established in 2019 by receiving its first investment from an angel investor. Then, in 2020, it received its second investment of $440 thousand from MobileX. The third round is was under the leadership of Collective Spark, Bogazici Ventures, Ak Portfolio Venture Capital Investment Fund and some angel investors participated in the project with $3 million. Today, the bridge tour before Series A closed.
The startup, which attracted great interest among casual players and reached millions of downloads with Space Colony: Idle, the first tycoon simulation game they developed and published, continues to consolidate its position in the game market.
Founding partner and CEO Tugay Alyildiz made a special statement to egirişim;
“We also observed the effects of the macroeconomic shrinkage that we observed on a global scale, which started in 2022, in the gaming industry as well. However, investments in gaming ventures in the pre-Series-A stages did not slow down. We think that this is due to the fact that game companies can ‘create value exponentially’ by nature, especially when they achieve product-market fit in the early stages. The participation of new investors, as well as our existing investors in this bridge tour, shows Veloxia’s position in the sector.”
Veloxia, which received investments from funds such as HubX (formerly MobileX), Collective Spark, and Bogazici Ventures in 2021, renewed confidence with the participation of existing investors in this round it completed. With the support of the investment, Veloxia aims to continue its success by scaling tycoon simulation games globally.
Aiming to develop innovative products on a global scale in the field of mobile games and technologies, Veloxia is working on new simulation games with RPG mechanics.
Source: Egirisim / Prepared by Irem Yildiz