$25m · Series A · Gaming · Istanbul, Türkiye
Istanbul-based mobile gaming studio Circle Games has raised a $25m Series A led by Tencent, with participation from existing investors e2vc, BITKRAFT Ventures, APY Ventures and a16z Speedrun.
The round takes Circle Games' total funding to $32.25m. The company plans to expand recently released Jelly Escape into more markets, continue growing Sort Express globally, at least double its headcount and develop additional mobile games.
Turning one puzzle hit into a repeatable studio
Circle Games moved from a pre-launch prototype to a live puzzle title generating eight-figure revenue, according to BITKRAFT partner Jasper Brand. That gives the studio more than a concept to fund: it has an operating playbook around user experience, data analysis and global distribution that can be tested across a second title.
The commercial challenge is portfolio risk. Mobile games can scale quickly, but player acquisition and retention vary sharply by title. Expanding Jelly Escape while keeping Sort Express growing lets Circle Games test whether its development process travels across products; doubling the team raises the cost base before that repeatability is fully proven.
