Agonalea Games raises $2 million in funding from Mika Capital

The mobile game company Agonalea Games, headquartered in Buenos Aires, has successfully secured $2 million in seed funding from Mika Games.

This funding will aid the studio in advancing the development and release of its free-to-play title, Punko.io, for mobile platforms.

Established in 2018 by former Sensor Tower product manager Pedro Aira and Vanina Fregoti, who previously managed projects at Pixowl, Agonalea Games boasts a portfolio of eight original games and has worked on over ten additional titles.

Nick Katselapov, the founder of Mika Games, expressed, "We are not only investing capital in Agonalea Games, but also providing strategic guidance to assist them in creating innovative mobile games that make a mark."

This represents the third investment initiative from Mika Games, which has also supported companies such as Guli Games and Hot Siberians. The firm itself has financial backings from Flint Capital, a venture capital firm.

In April 2024, Mika Games secured $10 million in its initial financing round and plans to raise an additional $50 million.

Apart from funding, Mika Games extends services in marketing, game design, and monetization to developers.

Katselapov noted, "With 83% of mobile games facing failure within three years, primarily due to a lack of financial support and business expertise, we see a substantial gap in the market. This presents an opportunity we can leverage, backed by our experience as both investors and operators, allowing us to identify promising teams and ambitious projects."