Türkiye’s gaming industry attracted $205 million in angel and venture capital investments across 46 deals during the first ten months of 2026, according to the latest Gaming Snapshot for Türkiye report published by startups.watch.
The figure has already surpassed the $194 million raised throughout 2025, representing an increase of approximately 5.7%, despite the current year’s figures covering only the period through October 31.
However, investment activity presents a different picture in terms of deal volume. While startups.watch recorded 108 investment deals in 2025, the number stands at 46 in 2026 so far, indicating that funding has become more concentrated in larger transactions.
The latest figures also place 2026 ahead of 2024, when gaming startups raised $129 million across 117 deals. Nevertheless, investment volume remains below the $492 million recorded in 2021, the highest annual figure in the report’s six-year comparison.
Grand Games, Flow Games, TaleMonster Games, and Circle Games lead investment activity
The report highlights four companies among Türkiye’s largest gaming investment announcements over the past 12 months: Grand Games, Flow Games, TaleMonster Games, and Circle Games.
Grand Games recorded the largest individual funding round highlighted in the report, securing $70 million in Series B investment led by Balderton in May 2026.
As we previously reported, the round brought the Istanbul-based mobile gaming company’s total funding to $103 million across three investment rounds. Existing investors Bek Ventures, Laton Ventures, and Mert Gür also participated.
Flow Games followed with $49 million in total funding. The Istanbul-based mobile game studio confirmed the amount in October 2026, identifying Tencent, Makers Fund, Arcadia Gaming Partners, and Ludus Ventures among its investors.
Unlike the other individual rounds highlighted in the snapshot, Flow Games’ $49 million represents cumulative funding rather than a single disclosed investment round. The company did not disclose the individual investment amounts or its latest valuation.
TaleMonster Games secured $30 million in Series A funding in January 2026. The round was co-led by Arcadia Gaming Partners and Andreessen Horowitz (a16z), with participation from Point72 Ventures and General Catalyst. The studio is known for Match Valley, a mobile puzzle game that incorporates hero and tower defense mechanics.
Circle Games completed the list with a $25 million Series A investment led by Tencent in September 2026, bringing the company’s total funding to $32.25 million.
These investments demonstrate continued interest from international investors in Türkiye-based mobile gaming companies, particularly studios operating within the casual and puzzle genres.
Arcadia Gaming Partners, Laton Ventures, Makers Fund, Tencent, and Webrazzi lead gaming investment activity in Türkiye
Among the most notable transactions was Laton Ventures’ participation in Grand Games’ $70 million Series B round in May. Laton also joined Arcadia Gaming Partners in co-leading Rotatelab’s undisclosed seed funding round in August. The Gaziantep-based studio had surpassed two million downloads with its mobile game Cube Land just four months after launch.
Arcadia Gaming Partners was also among the lead investors in Bold Games’ $6 million funding round in July, alongside Makers Fund and e2vc. The Istanbul-based studio plans to use the investment to expand its team and scale its debut puzzle game, Market Match.
Meanwhile, international investors Makers Fund and Tencent were among the backers of Flow Games, which confirmed $49 million in cumulative funding in October. The Istanbul-based studio, known for its mobile title Smash Fest!, also identified Arcadia Gaming Partners and Ludus Ventures among its investors. However, the company did not disclose the amounts invested by individual firms or the structure of its funding rounds. Tencent separately led Circle Games’ $25 million Series A round in September, bringing the mobile gaming company’s total funding to $32.25 million.
On the domestic investment side, Webrazzi GSYF, established in partnership with İş Portföy, invested $500,000 in Arcustin Games in September at a $10 million valuation. The Istanbul-based studio focuses on hybrid-casual puzzle games and plans to use the funding to expand its team, complete its first game, and support user acquisition. The fund also made a $500,000 investment in Orfeo Labs in July. Orfeo Labs develops AI-powered music and audio technology designed to simplify sound production workflows for game developers.
Türkiye’s gaming ecosystem reaches 1,299 startups
Beyond investment activity, startups.watch’s data shows that 1,299 gaming startups have been established in Türkiye as of October 31, 2026.
Of these, 799 remain active, representing approximately 61.5% of the total. Another 479 startups are classified as closed, while 21 have been acquired.
The report also points to a slowdown in new company formation. Türkiye recorded 27 new gaming startups during the first ten months of 2026, compared with 46 throughout 2025 and 99 in 2024.
This continues a broader downward trend in newly established gaming companies since 2022, when the country recorded 186 new startups.
Although 2026 remains incomplete, the available figures indicate that new studio formation is progressing at a considerably slower pace than in earlier years.
The broader gaming ecosystem currently includes 13 incubators, 22 accelerators, and two gaming clusters. Startups.watch also identifies three gaming unicorns, representing companies that have reached valuations of at least $1 billion.
Gaming exits and secondary transactions reach $520 million in 2026
Türkiye’s gaming industry also recorded $520 million in exits and secondary transactions across two deals during the first ten months of 2026.
The figure follows an exceptional 2025, when startups.watch recorded approximately $1.3 billion in transaction value from a single deal.
That year, Dream Games announced a strategic investment agreement with CVC, which involved providing liquidity to existing venture capital investors and establishing CVC as the company’s new equity partner.
One of the most significant transactions in 2026 was Scopely’s acquisition of a majority stake in Loom Games, the Istanbul-based developer behind the mobile puzzle game Pixel Flow!.
Announced in February, the agreement valued Loom Games at more than $1 billion, making it one of Türkiye’s gaming unicorns. However, the transaction included a multi-year, performance-based structure, and its precise financial terms were not publicly disclosed.
Startups.watch lists Loom Games among the five largest exits and secondary transactions in Türkiye’s gaming history, alongside Peak Games, Dream Games, Gram Games, and Masomo.
Peak Games’ $1.8 billion acquisition by Zynga remains the largest transaction, followed by Dream Games at approximately $1.3 billion, Loom Games at over $500 million, Gram Games at over $250 million, and Masomo at approximately $200 million.
Zynga also remains the most active acquirer in the country’s gaming industry, with seven transactions recorded by startups.watch. Miniclip, Rovio, and SciPlay follow with one transaction each.
