Agave, the startup behind Find the Cat, finds $18M

Agave Games secures $18M for 'Find the Cat,' planning expansion.

: Agave Games, developer of 'Find the Cat', secured $18 million in funding, led by Felix Capital and Balderton Capital, to expand its team and develop future titles. 'Find the Cat' achieved 10 million downloads within its first quarter, with revenue estimates of $10 million from Android alone. The game leverages AI for design processes while maintaining human creativity for coding. Investors anticipate Agave's potential for $100 million revenue, driven by its game mechanics and engaging user experience.

Agave Games, a startup from Turkey, has secured $18 million in a Series A funding round co-led by Felix Capital and Balderton Capital, alongside E2VC's participation, positioning itself for team expansion and future title development. The company's hit game 'Find the Cat' achieved over 10 million downloads in the first quarter since its August release, with an estimation of $10 million revenue generated from Android users alone via in-app purchases and advertising strategies.

CEO Alper Oner, inspired by his experiences both locally and abroad, teamed up with Ali Baran Terzioglu, Burak Kar, and Oguzhan Merdivenli during the COVID-19 pandemic, establishing Agave with a focus on casual games. Drawing from their own interests and tech knowledge, the team successfully leveraged AI in the creative process, emphasizing artistic creation while acknowledging human superiority in coding, resulting in a polished gaming experience.

Rob Moffat of Balderton Capital, key to the investment decision, cites the potential for Agave to reach $100 million in revenue based on its strong team and the addictive nature of 'Find the Cat'. With the support of prior investors from Agave's seed round, including Tripledot Studios' co-founder Akin Babayigit, the company is poised to further innovate in the casual gaming sector amid Turkey's burgeoning game startup ecosystem.

casual gamesAgave GamesMobile Gaming