Kooply, an Israeli startup, has raised $18 million from investors to help build a mobile gaming platform.
Mobile dominates the world of gaming, with smartphone and tablet games generating $93.2 billion in revenues in 2021, more than consoles ($50.4 billion) and PC ($36.7 billion) combined according to gaming market research firm Newzoo.
And that’s before you consider the thousands of popular apps out there that are not strictly games but rely heavily on gaming mechanics to entice users.
Now, banking on the idea that both professional developers and more casual enthusiasts are going to want to build even more mobile games in the future, an Israeli startup called Kooply is announcing funding from key investors to build out a mobile games development platform.
The company is still in stealth mode it hopes to have a soft launch later this year but in the meantime, it has picked up $18 million in a seed round co-led by Microsoft (via its M12 fund), TPY Capital, and Israeli mobile casino games giant Playtika with Aleph Venture Partners, Entrée Capital, Glilot Capital Partners, and Samsung Next also participating.
The money will be used for hiring, and to continue investing in R&D and building out Kooply’s platform ahead of its launch.