Turkish mobile game studio Paxie Games raises $3M in new funding

Turkish mobile gaming studio Paxie Games has raised $3 million in a new funding round led by Ludus Ventures, as reported by PocketGamer.Biz.

Founded in 2021 by Direç Çelik, Hüseyin Anıl Özmen, Refik Anıl Bulut, and Sare Başel, Paxie Games is mostly known for its puzzle title named ‘’Merge Studio’’, which was first released in March 2022 and has generated more than 7 million downloads since then.

The studio, which focuses on developing casual games with a hybrid revenue model, has recently launched its new game ‘’Tile Star: Dream Makeover’’ after achieving success with its first product.

Direnç Çelik, co-founder and chief executive officer of Paxie Games, said: “In a short period of 1.5 years, we developed a casual puzzle game that achieved great success worldwide, bringing both the game and the company to a profitable point, and finally, we launched our second casual puzzle game. Our game production skills are exceptional, and we are extremely motivated to create high-quality games. This year’s goal is to grow our team and continue to develop and market Merge Studio, which has already reached millions of players.’’

İsmet Gökşen, general partner of Ludus Ventures, commented: “Even though we have been more selective in our investments compared to previous years, the most critical factor for us is still the team. We’re looking for fast teams that can create a differentiation point. Unfortunately, it’s no longer enough for teams to produce good games, but their ability to launch and grow their games is critical for the follow-on investments. Paxie is a team that has impressed us in every way, and we are thrilled to have made the first investment of this year in this team.”

According to a recent report from Gaming in Turkey (GIT), 81% of adults in Türkiye now play at least one mobile game, making it an attractive market for international game companies and providing fertile ground for studios originating in the country.