Agonalea Games has successfully raised $2 million in funding from Mika Capital

Agonalea Games, a mobile development company located in Buenos Aires, has successfully raised $2 million in seed funding, thanks to the support of Mika Games.

The funding will be utilized to advance the ongoing development and release of their free-to-play mobile title, Punko.io.

Founded in 2018, Agonalea Games was established by Pedro Aira, who previously held the position of product manager at Sensor Tower, and Vanina Fregoti, who formerly served as a project manager at Pixowl. The company boasts a collection of eight original games and has been part of the development of over ten other projects.

"We are committed to supporting Agonalea Games not only with our financial resources but also by providing strategic assistance to help them create unique and exciting mobile games," commented Nick Katselapov, founder of Mika Games.

This investment is Mika Games' third, having previously supported studios such as Guli Games and Hot Siberians. The firm obtains backing from Flint Capital, a venture capital company. Read more about Mika Games' previous investments.

In April 2024, Mika Games managed to gather $10 million in its opening funding round and plans to raise an additional $50 million soon.

Beyond funding, Mika Games extends assistance to developers by aiding them in areas such as marketing, game design, and monetization.

"The harsh reality is that 83% of mobile games don't succeed within three years, largely due to inadequate financial backing and business direction," Katselapov noted.

"We've identified a significant market void that offers a major opportunity. Our background in investment and game operations provides us with the expertise to choose skilled teams and promising projects," he added.