Veloxia raises $3 million to expand beyond idle mobile games
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Veloxia has raised $ 3 million in funding to create idle games for mobile devices. He’s already having success with the slow-motion strategy game dubbed Space Colony: Idle on iOS and Android.
Istanbul-based Veloxia is the latest Turkish video game company to raise a significant amount of money. In mobile games, Turkey is starting to get so hot that you could compare it to Finland, which gave birth to game companies like Supercell and Rovio. In recent years, Turkish video game companies have also emerged as flagships, with Zynga acquiring Peak Games last year for $ 1.8 billion.
Collective Spark led the round with participation from Bogazici Ventures, Ak Portfoy Girisim Sermayesi and several angel investors. Idle games are titles that you play when you have a lot of idle time, and they are often quite repetitive, where you repeatedly tap the screen.
Tugay Alyıldız, Melih Gündoğdu and Mehveş Altay established the company in June 2019 with the mission of creating globally innovative products in the field of mobile games. Veloxia released its first product, an idle game called “Space Colony: Idle” on iOS and Android platforms at the end of 2019, and it was named one of the best strategy games and achieved nearly one million downloads.
The trio started the business to create multiplayer games that can go viral with more effective marketing and high profitability. The company wants to create a portfolio of games in a variety of genres. Alyildiz has experience in consulting, strategy, investment and finance. Gündoğdu, Director of Operations, graduated in Management Engineering, with experience in consulting, strategy, investment finance. And Altay is the CTO.
“Our infrastructure is supported by behavioral economy models that we are constantly developing as we adapt our products,” said Tugay Alyildiz, CEO of Veloxia, in an email to GamesBeat. “We strive to differentiate Veloxia from other mobile game startups through our approach to monetization in game design and by successfully managing products of different categories under a cluster structure. ”
He said the fundraising cycle would help the company put its idle know-how to work, further strengthen its analytical power and grow into the strategy and action game categories.
Alyildiz said the development team has grown under the leadership of Altay, who worked for Microsoft and Google in multiple countries during his college days. She said the company has an international team of 22 members living in different geographies. The company will grow in Turkey and abroad and maintain its inclusive and diverse team culture.
Görkem Oktay, general partner of Collective Spark, said in a statement that Turkey has been at the forefront of mobile gaming with many successful startups and multiple releases in recent years. In this context, he said his firm has been following the landscape closely for a long time and has invested in the Veloxia team that he has known since its inception. He said he looks forward to Veloxia releasing new games in various categories.
Alyıldız has indicated that he will attend the Game Developers Conference in San Francisco this year on behalf of Veloxia to help promote Veloxia in the mobile gaming community.
The company is currently working on a title in the Multiplayer Online Fighting Arena (MOBA) games category. The hope is to produce the biggest game in Turkey and to expand its team abroad and open offices in Northern Europe. The company has raised nearly $ 4 million to date.
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