Studio 42, a new mobile game development studio founded by industry veterans behind global casual hits, announced it has raised $3.6 million in seed funding. The round was led by Play Ventures, with participation from GEM Capital and Arcadia Gaming Partners.
Based in Cyprus, Studio 42 was founded by former Belka Games leaders Aleksandr Bogdanov (CEO), Ivan Larionov (COO), and Pavel Sudakov (CPO) — the team behind multiple top-grossing titles in the casual games space.
During Aleksandr Bogdanov’s seven-year tenure as CEO of Belka Games, the company’s revenue and team size each grew more than tenfold. Under his leadership, Belka launched global hits such as Solitaire Cruise, Bermuda Adventures, and Roger That!, opened six offices across Europe, and reached millions of players worldwide.
Clockmaker entered the Top 100 highest-grossing games in the U.S. according to Data.ai, while Solitaire Cruise became the #3 Solitaire game globally, trailing only Solitaire Grand Harvest and Tiki Solitaire. These milestones were a direct result of Bogdanov’s leadership and the strategic excellence of his senior management team.
“We are excited to partner with Play Ventures, GEM Capital, and Arcadia Gaming Partners and take the next step in our journey. Their support allows us to focus on what we do best — creating simple yet deeply engaging experiences. We believe that genius lies in simplicity, and together, we are ready to bring fresh ideas to the puzzle genre.”
Aleksandr Bogdanov, CEO of Studio 42
Studio 42 is currently working on its first original game, combining classic puzzle mechanics with a modern hybrid-casual approach.
The team operates with high-speed iteration — its first project moved from concept to live testing in just two months.
The team is using AI to test 100% of its product hypotheses, the studio plans to evaluate up to 10 new ideas each year.
“We’re thrilled to back Aleksandr, Ivan, Pavel, and the incredible team they’ve brought together at Studio 42. From the start, we were aligned on their vision — reimagining core puzzle mechanics through a hybrid-casual lens, with live ops as a strategic driver. Their track record speaks for itself, and we couldn’t be prouder to support them.”
Henric Suuronen, Founding Partner at Play Ventures
The founding team’s deep roots in casual gaming include leadership roles at Belka Games, Snap Inc., Playrix, Game Insight, and others. Studio 42 now operates with a 14-person team across four countries, building the next generation of puzzle titles with a player-first philosophy.
