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In Turkey, which hosts many gaming initiatives, the new year started quickly for gaming companies. Developing more than 120 mobile games, the domestic studio has received an investment of 4 million dollars from London-based UP Venture Capital.

*** This release is originally published in Turkish.

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TURKEY - YAMY Studio, known for the games it developed in the genre of "hybrid-casual", received an investment of 4 million dollars from London-based UP Venture Capital.

Sharing his views on the investment process, YAMY Studio Founding Partner Ahmet Ferhat Akben said, "Our studio, which we laid the foundations of in 2020 with my partners Yunus Alkan and Mikdat Doğru, has increased the company value to over 4 million dollars with the investment from London-based private equity fund UP Venture Capital."

Ömer Uyan, Co-Founder of UP Venture Capital, said, “As UP Venture Capital, we invested in YAMY Studio in line with our strategy of investing in sectors with high growth potential. With this investment, we aim to expand our portfolio, which consists of companies operating in the gaming, chemistry, capital markets and sustainable energy sectors, by making investments in existing sectors and new sectors.”

Developed over 120 games

The game studio, which continues its activities in Istanbul, reached 1 million downloads with its game called Hoop 4 in 2021, while in 2022 it exceeded the 2 million threshold with its game called Parents Run. Emphasizing that Parents Run has reached the top of the list of most downloaded games, Ahmet Ferhat Akben said, “As YAMY Studio, we have developed over 120 games to date. As users began to spend more time in mobile games, the mobile game genre known as hybrid-casual gained new features. The hybrid-casual genre, which is played longer than hyper casual, is constantly updated and offers players reasons to play again, will be one of the rising trends of 2023. We are positioned as the pioneer of this trend, and we deliver the games we develop to players from all over the world. With the investment we have received, we will work to grow our team with qualified talents and to publish the games we have developed under our own brand.”

Mobile gaming spending was $110 billion in 2022

Emphasizing that mobile game expenditures amounted to 110 billion dollars in 2022, despite the global economic conditions according to current data, YAMY Studio Co-Founder Ahmet Ferhat Akben concluded his evaluations with the following statements: The development of mobile games marks a breaking point for the video game industry. As YAMY Studio, we will continue to work with the vision of becoming one of the leading companies in the mobile game industry, which has managed to create a profitable business model for players, publishers and studios with the investment we have received over a valuation of 4 million dollars. With the investment we received from UP Venture Capital, we have proven our potential by adding a new success story to our country's gaming industry."