Mika Games, a Cyprus-based gaming investment firm launched in 2024 by Wargaming co-founder Nick Katselapov, has announced a $2 million seed investment in Agonalea Games, an independent game studio headquartered in Buenos Aires. This marks Mika Games’ third portfolio investment since its founding.
Agonalea Games will use the funding to continue development of Punko.io, a free-to-play hybrid-casual tower defense game. The title blends mechanics inspired by Clash Royale, Archero, and Plants vs. Zombies, and has already been nominated for Best Mobile Game at the gamescom latam BIG Festival 2025.
Punko.io is designed to offer mid-core gameplay depth combined with accessible mechanics. The game features strategic loadout systems, inventory-based character progression, and real-time tower defense mechanics. Agonalea reports early retention metrics that are competitive with benchmark titles like Candy Crush Saga and Brawl Stars.
Founded in 2018 by Pedro Aira (formerly Sensor Tower) and Vanina Fregoti (formerly Pixowl), Agonalea Games previously received support from the Google Play Indie Game Fund LATAM 2022 and won Mobile Game of the Year at the Argentinian Videogames Expo (EVA) 2024. The team has also contributed to licensed titles including Peanuts: Snoopy’s Town Tale and Goosebumps: Horror Town.
“Mika Games is investing in Agonalea Games to support the next wave of hybrid-casual mobile titles,” said Nick Katselapov, founder of Mika Games. “We believe this segment addresses the monetization and retention gap between hyper-casual and traditional mid-core games, offering developers stronger lifetime value and sustainable growth.”
Mika Games, backed by Boston-based venture firm Flint Capital, aims to invest $50 million into mobile game studios over the coming years, with the goal of helping teams scale past $1 million in monthly revenue. The firm provides operational support across design, monetization, marketing, and business strategy. Its existing portfolio includes Guli Games and Hot Siberians.
While mobile game downloads declined in 2024—down 6% on the App Store and 11% on Google Play—the hybrid-casual segment saw a 30% increase in revenue, driven by more than 130 new releases over the past year.
