Istanbul-based mobile game developer Cypher Games has announced it has raised $30 million in a series A funding round, led by The Raine Group and Play Ventures. The round also included contributions from MIT, E2VC, and VC Big Bets, founded by Huuuge founder Anton Gauffin.
Additional support came from individual investors such as Discord CEO Humam Saknini, King founder Riccardo Zacconi, and Tripledot co-founder Akin Babayigit. This latest investment follows a $10 million seed round completed in September 2024, bringing the company’s total funding to $40 million.
Cypher Games Raises $30 Million
Funding to Support Match Squad
Cypher Games plans to use the series A funding primarily to support the launch of its debut title, Match Squad. The game combines traditional match-3 mechanics with dice-based gameplay and city-building elements, offering a blend of casual and strategic play. The funding will also support the early development of a second game and contribute to expanding the studio’s team.
Anil Simsek, Co-Founder and CEO of Cypher Games, said, “We’re thrilled to close this series A fundraising with the support of such a strong investor group. Our mission is to pursue innovation and deliver it with top-tier storytelling and premium production quality, at the fastest possible pace. This new funding provides the liquidity necessary to execute on that vision as we bring our game to market.”
Cypher Games Raises $30 Million
Growing Mobile Gaming Market
The funding and focus on innovation highlight Cypher Games’ strategy to stand out in the crowded mobile gaming sector. By combining familiar match-3 gameplay with dice mechanics and city-building features, the studio is aiming to create a more engaging experience for casual gamers while developing its brand internationally. The investment also supports studio growth, signaling an intention to expand both development capabilities and creative talent.
John Salter, co-founder and partner of The Raine Group, added that the partnership reflects confidence in Cypher Games’ approach to mobile gaming. “We’re pleased to deepen our partnership with Anil and the Cypher team as they continue to push the boundaries of the match-3 genre with their innovative integration of the dice mechanic. They have continued to attract the best talent in Turkey, which is evident in the beautiful game design and best-in-class gameplay in Match Squad.”
Cypher Games Raises $30 Million
Implications for Web3 and Gaming Trends
While Match Squad is primarily a mobile title, Cypher Games’ growth aligns with broader industry trends, including the gradual integration of web3 technologies into gaming. As mobile developers explore new ways to merge gameplay with digital ownership and blockchain-based features, companies like Cypher Games may find opportunities to innovate beyond traditional game design.
Frequently Asked Questions (FAQs)
What is Cypher Games? Cypher Games is an Istanbul-based mobile game developer focused on casual and strategic games, blending match-3 mechanics with innovative gameplay elements.
What is Match Squad? Match Squad is Cypher Games’ debut title, combining match-3 gameplay with dice mechanics and city-building features. It is designed to offer both casual and strategic gaming experiences.
How much funding has Cypher Games raised? As of October 2025, Cypher Games has raised a total of $40 million, including a $10 million seed round in September 2024 and the recent $30 million series A round.
Who led the series A funding round? The series A round was led by The Raine Group and Play Ventures, with participation from MIT, E2VC, VC Big Bets, and several high-profile individual investors.
Will Cypher Games explore web3 elements? While there is no confirmation of web3 integration in Match Squad, the studio’s growth positions it to potentially explore blockchain or digital ownership technologies in future projects.
