Israeli mobile game developer Sneaky Panda announced that it has raised $6 million in a funding round. The funding round was led by Bitkraft Ventures and was attended by FireArc and Remagine Ventures, as well as angel investors such as Joakim Achrén and Eyal Chomski.
Founded by veterans in the mobile game industry, Jelly Button co-founder Ron Rejwan and Upopa Games co-founder Niv Touboul, the studio plans to release the first game in a new genre it calls “luck-puzzle.”
Sneaky Panda’s first game of this new genre will be released next year, targeting teenagers and adults alike, with gameplay that includes item collecting and strategy. The funding will bring additional capabilities to Sneaky Panda’s Israel-based team.
Ron Rejwan, CEO and co-founder of Sneaky Panda, commented on the game in a new genre:
“The mobile gaming market is saturated with companies that are trying to make better versions of existing products, but our approach at Sneaky Panda is to introduce the ‘Luck-Puzzler’ genre, a completely new genre that puts more emphasis on skill and strategy than current mobile games in the market. A new generation of mobile players have emerged and they are ready for more diverse and challenging gameplay experiences.”
Malte Barth, co-founder of Bitkraft Ventures, said:
“Mobile gaming represents one of the fastest-growing gaming platforms worldwide and the market is ripe for genre innovations. The Sneaky Panda team is creating a completely new genre in the mobile gaming space, and we believe there is a sizable audience that play puzzle and luck games that will appreciate the innovative design of Sneaky Panda’s first title and become loyal community.”