Business

Bogazici Ventures invested ₺2 million 750 thousand in Funrika

Funrika, which has been developing mobile-oriented games since the day it was founded and finally achieved success with its game called Top Race, received an investment of ₺2 million 750 thousand from Bogazici Ventures.

Last year, the game industry in Turkey created a volume of $2 billion. It finished 18th in the world game market. The acquisition of Peak Games and Rollic Games by the US game company Zynga was one of the most important developments of the year.

That’s why domestic and foreign investors turned their focus to the game industry. In this context, many investment news have been on the agenda in the last year. According to the information we received, Bogazici Ventures invested ₺2 million 750 thousand in Funrika, which was founded in 2011 by Cem Kone and Can Kone, who developed hybrid casual games. The investment was made through BV Growth, a mutual fund focusing on early-stage startups in gaming, fintech, digital health and retail technologies.

Burak Balik, founding partner of Bogazici Ventures, said, “There are criteria we set before making an investment decision for a team, if the team meets these criteria, we make the investment decision. I can say that Funrika fits all of these criteria. When we met with the team, considering our criteria such as the team’s vision, history and dream of becoming a unicorn, everything matched our strategy exactly.” He also added that the team has been in the startup ecosystem for a long time and is very close to success.

Cem Kone, one of the founding partners of Funrika, stated that they especially focus on competition in their games, that this is the most important factor that makes the game fun, and that competition also increases the rate of keeping the user in the game. He also emphasized that players get bored of the single-player experience very quickly, multiplayer games allow players to socialize, so they are more connected to the game. At the same time, Funrika continues to improve and develop the user experience day by day in its AI-based games called Top Race, which also includes the luck factor. The Funrika team said, “We trust the experienced team of Bogazici Ventures and in fact, this investment is of great importance for our future success. We want to reach the global, especially the Asian market, and we are very hopeful that these connections will be provided by Bogazici Ventures.”

Let us remind you that Bogazici Ventures invested $1.4 million in Tarentum venture company founded by Oguz Silahtar, Bora Tokyay and Gun Makinabakan in May 2017.

Source: Webrazzi / Translated by Irem Yildiz

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