22/09/2021 By RuneLite
A new GamesBeat event is around the corner! Learn more about what comes next.
Veloxia has raised $3 million in funding to make idle games for mobile devices. It already has one hit, Space Colony: Idle on iOS and Android.
The Istanbul-based Veloxia is the latest Turkish game company to raise a significant round of money. In mobile games, Turkey is starting to become so hot that you could compare it to Finland, which gave birth to gaming companies such as Supercell and Rovio. In recent years, Turkish game companies have also become hot commodities, 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 that don’t always require your full focus, and they’re often quite repetitive, where you tap the screen many times.
Above: Veloxia’s founders have raised $4 million to date.
Tugay Alyıldız, Melih Gündoğdu, and Mehveş Altay started the company in June 2019 to create innovative products on a global scale in mobile gaming. Veloxia published Space Colony: Idle in late 2019, and it has been ranked among the top strategy games and achieved nearly a million downloads.
Three top investment pros open up about what it takes to get your video game funded.
Watch On Demand
The company wants to build a portfolio of games across a variety of genres. Alyildiz has experience in consulting, strategy, investment, and finance. Gündoğdu is the chief operating officer and a management engineering graduate, with experience in consulting, strategy, investment finance. And Altay is the chief technology officer.
“Our infrastructure is backed by behavioral economy models which we are constantly developing as we scale our products,” said Alyildiz in an email to GamesBeat. “We work toward differentiating Veloxia from other mobile gaming startups with our approach to monetization in game design and by successfully managing products in different categories under a cluster structure.”
He said the funding round will help the company put its idle know-how to work, further strengthen its analytics capabilities, and expand across strategy and action game categories.
Alyildiz said that the development team has been growing under the leadership of Altay, who worked for Microsoft and Google in several countries during her college years. She said the company has an international team with 22 members living in different geographies. The company will expand in Turkey and aboard and maintain its inclusive and diverse team culture.
Above: Veloxia’s Space Colony: Idle game.
Image Credit: Veloxia
Alyıldız noted that he will be attending the Game Developers Conference in San Francisco this year on behalf of Veloxia to help raise the company’s presence in the mobile game community.
The company is currently working on a title in the multiplayer online battle arena games (MOBA) category. The hope is to produce the biggest game out of Turkey and to expand its overseas team and open North Europe offices. The company has raised almost $4 million to date.
GamesBeat's creed when covering the game industry is "where passion meets business." What does this mean? We want to tell you how the news matters to you -- not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it.
How will you do that? Membership includes access to:
Newsletters, such as DeanBeat
The wonderful, educational, and fun speakers at our events
Special members-only interviews, chats, and "open office" events with GamesBeat staff
Chatting with community members, GamesBeat staff, and other guests in our Discord
And maybe even a fun prize or two
Introductions to like-minded parties
Become a member