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Mika Games Commits $2 Million to Innovative Hybrid-Casual Game Poised to Outshine Plants vs. Zombies
A gaming investment fund, initiated by Nick Katselapov, a co-founder of Wargaming, has made a significant investment in Agonalea Games, an Argentine studio recognized for its novel tower defense title, Punko.io. This game is designed to fulfill the mid-core gaming experience that many players seek. Following a remarkable 30% increase in revenue from its product model, Mika Games is dedicated to supporting underfunded game developers.
Nicosia, Cyprus, April 10, 2025 — Mika Games recent investment marks its third venture within a year, allocating $2 million in seed funding to Agonalea Games. The Buenos Aires-based company, founded by industry veterans from Sensor Tower and Pixowl, plans to utilize the funds to advance the development and release of its free-to-play hybrid-casual tower defense game, Punko.io. This title has recently received a nomination for Best Mobile Game at the 2025 gamescom latam BIG Festival.
Agonalea’s Punko.io aims to provide a gaming experience that surpasses what was offered by Plants vs. Zombies 3 with its genuine strategic depth, meaningful long-term progression, and, fundamentally, enjoyable gameplay. The game draws inspiration from Habby’s successful product model, facilitating a sophisticated tower defense period rather than resorting to oversimplified mechanics and revenue-focused strategies. A unique element of the game allows players to customize their main character with RPG items from an evolving inventory, creating a fusion of the beloved elements found in classic flash tower defense games with contemporary gameplay and stylish design.
“Our investment in Agonalea Games goes beyond financial support — we are committed to providing strategic assistance to foster innovative, standout mobile games,” stated Nick Katselapov, Founder of Mika Games. “The mid-core gaming market faces intense engagement demands and often incurs a cost-per-install (CPI) surpassing $10; in some cases, it can shoot up to $30. Conversely, hyper-casual games typically struggle with retaining players over time. Hybrid-casual titles, therefore, represent an ideal combination, offering a robust lifetime value (LTV) at comparatively lower user acquisition costs, making it one of the most lucrative fields in mobile gaming.”
Punko.io incorporates mechanics from successful mobile games such as Clash Royale and Archero, while also integrating top features from Plants vs. Zombies. This engaging concoction has already yielded impressive results, exemplified by its retention rates, which rival those of popular games like Candy Crush Saga and Brawl Stars.
Agonalea Games was founded in 2018 by Pedro Aira (formerly of Sensor Tower) and Vanina Fregoti (formerly of Pixowl). The studio has garnered notable acclaim, having won the Google Play LATAM Indie Game Fund in 2022 and being named Mobile Game of the Year at the 2024 Argentinian Videogames Expo (EVA). The team has also been instrumental in the development of successful titles like Peanuts: Snoopy’s Town Tale and Goosebumps: Horror Town.
“At Agonalea Games, our focus is on crafting experiences that evoke a sense of childhood wonder and joy,” remarked Pedro Aira, co-founder of the studio. “In an era where social media platforms compete for every moment of our attention, Punko.io boldly asserts that today’s media consumers are the true zombies in need of battling. This game transcends mere entertainment; it represents a strategic counteraction to the distractions of contemporary life and sets a new benchmark for its genre.”
Mika Games has now completed three investments as part of a strategy to curate a portfolio of promising mobile game studios. Their existing investments include both Guli Games and Hot Siberians. Empowered by Boston-based venture capital firm Flint Capital, Mika Games aspires to infuse $50 million into gaming startups to help them reach over $1 million in monthly revenue, achieve self-sufficiency, and elevate their valuations toward a potential IPO. Beyond monetary investment, Mika Games offers comprehensive support in areas such as business processes, game design, monetization strategies, marketing, and product development.
In 2023, the hybrid-casual gaming sector observed a remarkable surge, with over 130 new releases, reflecting an almost 40% year-over-year increase. Despite a challenging 2024 for mobile gaming characterized by a 6% decline in downloads on the App Store and an 11% drop on Google Play, the hybrid-casual genre managed to buck the trend, enjoying a 30% revenue increase over the preceding year.
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About Mika Games
Mika Games, established in 2023 and headquartered in Cyprus, is an investment firm focused on mobile gaming studios that are in the soft launch stage. The company aims to empower these studios to expand their reach globally. It specializes in free-to-play mobile games that can captivate players over extended periods, regardless of genre. Currently, Mika Games holds a portfolio that includes Guli Games and Hot Siberians. The firm is dedicated to providing essential resources, such as funding, time, and expertise, to help navigate the complex soft launch phase and ultimately turn these games into successful businesses.
Source
venturebeat.com