Cyprus-based Studio 42 raises $3.6M to launch its first hybrid game

Mobile games startup Studio 42 has raised $3.6 million in Seed funding to accelerate the development of its debut title and test new puzzle game concepts.

The round was led by gaming specialist VC Play Ventures, with participation from GEM Capital and Arcadia Gaming Partners. The company aims to shake up the puzzle genre with a hybrid-casual approach.

The puzzle category remains one of the most lucrative and enduring segments in mobile gaming, but also one of the most competitive. Games like Candy Crush Saga and Royal Match dominate, with hybrid-casual innovations — blending traditional puzzle play with metagame elements — increasingly gaining ground.

Studio 42’s first original title is already in development, and the studio has adopted a rapid iteration strategy. Its first prototype moved from concept to live testing in just two months. The team uses AI to test 100 percent of product hypotheses and aims to evaluate up to 10 new ideas per year - a speed-focused, data-driven approach increasingly common among lean mobile studios competing in the hit-driven gaming market.

“We are excited to partner with Play Ventures, GEM Capital, and Arcadia Gaming Partners and take the next step in our journey,” said Aleksandr Bogdanov, CEO of Studio 42. “Their support allows us to focus on what we do best — creating simple yet deeply engaging experiences. We believe that genius lies in simplicity, and together, we are ready to bring fresh ideas to the puzzle genre.”

“We’re thrilled to back Aleksandr, Ivan, Pavel, and the incredible team they’ve brought together at Studio 42,” said Henric Suuronen, Founding Partner at Play Ventures. “From the start, we were aligned on their vision — reimagining core puzzle mechanics through a hybrid-casual lens, with live ops as a strategic driver. Their track record speaks for itself, and we couldn’t be prouder to support them.”

With mobile gaming accounting for over 50 percent of global gaming revenues (per Newzoo), studios able to combine strong IP, rapid experimentation, and monetisation know-how are well-positioned. The company employs a 14-person team across four countries, and is actively hiring as it scales development and tests new IP.