Turkey’s Fomo Games raises $5 million at $50 million valuation

Turkey’s Fomo Games raises $5 million at $50 million valuation

Ok fans, it’s time to head back to the chalkboard and add another entry to the growing list of mobile games studios coming out of Istanbul that are making the charge to a device near you soon. This time up, we’ve got Fomo Games pulling down a respectable $5 million in a new funding round that gives the company a $50 million valuation.

Founded in 2019 by Emre Teksoz, Yunus Guvenen, and Yusuf Ceylan, the studio has turned out the puzzle-based title Event Twins: Design & Blast, which holds a 4.9 star rating on the app store. Borrowing a page from crosstown firm Dream Games, Fomo’s graphics mirror the Pixar animation studio’s style graphics and offer players a journey through a redecorating/upgrading style narrative.

According to co-founder Yunus Guvenen , the funding will be used to continue growing the team as well as driving an upcoming marketing campaign.

Interestingly, Fomo Games’ $5 million in funding was provided by Luxembourg-based venture capital and private equity house Libertus Capital, a firm that traditionally invests in, "companies and protocols that enhance and protect freedom, privacy, and trust." To date, Fomo games has raised a total of approximately $6.25 million.

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