Turkish mobile games outfit Tiplay Studio has raised $500,000 following a Series A funding round, at a valuation of $25 million.
The funding round was led by Re-Pie, and featured participation from lead angel investors Kerim Kotan and Saruhan Tan.
Founded in 2019, Tiplay Studio is a developer and publisher of hypercasual and idle mobile games, alongside games for Snap Inc, including Water Shooty, Joust Run, and Dodge Master. The studio currently consists of 40 employees.
The capital raised will be used to scale the team and further the development of its pipelined titles.
Beyond expectations
“We are proud that so many distinguished investors have recognized the progress we’ve made and are supporting our vision to create the best game development ecosystem in the world,” said Tiplay Studio co-founder and CEO Mehmet Umut Ermeç.
“This investment will allow us to strengthen our studios and accelerator program operating in multiple genres and platforms – ultimately leading to amazing new games.”
Tiplay Studio senior board advisor Kerim Kotan added: “I am truly proud of Tiplay Studio and their valuation growth which is above 100 times since their Seed, executing well beyond expectations to become a major regional ecosystem and a powerhouse of game development.”
Last month, Waysun Inc acquired a majority stake in Turkey-based Boss Bunny Games to support its expansion into the MENAT region.
