BITKRAFT Ventures led the round with Remagine Ventures, FireArc, Joakim Achrén, and Eyal Chomski also participating
December 2, 2021
[This unedited press release is made available courtesy of Game Developer and its partnership with notable game PR-related resource Games Press]
Author: Sneaky Panda
7:00 AM PST Embargo Lift
Tel-Aviv, ISRAEL – December 1, 2021 — Sneaky Panda, a mobile gaming company on a mission to create innovative gameplay by introducing the new “Luck-Puzzler” genre, today announced a $6 million seed round led by BITKRAFT Ventures, with Remagine Ventures, FireArc, Joakim Achrén, and Eyal Chomski also participating. The funding will be used to recruit additional talent to join the team at its Israel-based headquarters as they work to launch the company’s first title next year.
The company was founded by mobile game veterans with decades of collective entrepreneurial experience including Ron Rejwan, co-founder of Jelly Button (acquired by Playtika), and Niv Touboul, co-founder of Upopa Games (acquired by ironSource). The studio’s first title is set to launch in 2022 and will target teens and adults alike. The puzzle gameplay requires collecting items and strategic plays to create surprising synergies.
“I’ve found that the best way to dominate a market is to create it. During my time at Jelly Button, we introduced Pirate Kings which brought the social casino genre to life and now generates billions of dollars a year. 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, ” commented Ron Rejwan, CEO Co-Founder of Sneaky Panda.
“Ron and Niv are highly experienced, extremely versatile, driven entrepreneurs whose speed and quality of execution is outstanding. 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,” commented BITKRAFT Ventures Founding Partner, Malte Barth.
For more information about Sneaky Panda, please visit www.sneaky-panda.com.
About Sneaky Panda
Sneaky Panda is a casual mobile games developer founded by industry veterans Ron Rejwan, co-founder of Jelly Button (acquired by Playtika), and Niv Touboul, co-founder of Upopa Games (acquired by ironSource). Sneaky Panda’s goal is to create innovative mobile game experiences that establish completely new genres in the market.
About BITKRAFT Ventures
BITKRAFT Ventures is a global early- and mid-stage investment platform for gaming, esports,
and interactive media. Founded by Jens Hilgers, BITKRAFT serves a worldwide network that spans some of the industry’s more forward-thinking startups and founders working to build and operate the virtual worlds and economies of the future. BITKRAFT operates four venture funds with a total of over $600M USD in assets under management and has over 60 companies in its global portfolio as of October 2021.
BITKRAFT’s experienced international team seeks to create significant value through early candid partnerships, unique domain experience, entrepreneurial history, and a global ecosystem of strategic partners.
Find out more about how BITKRAFT and its portfolio companies are pushing the boundaries of Synthetic Reality® by visiting https://www.bitkraft.vc/vision.
About Remagine Ventures
Remagine Ventures is an early-stage venture capital fund focused on investments at the intersection of interactive entertainment and consumer tech in Israel. Founded by Kevin Baxpehler and Eze Vidra, Remagine Ventures partners with Israeli startups and actively opens doors to their networks of strategic partners in TMT and the broader entertainment market globally. You can learn more about Remagine Ventures on our website or Blog.
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