Sneaky Panda raises $6 million to launch new mobile gaming genre
The game developer will introduce the “Luck-Puzzler” genre, which puts more emphasis on skill and strategy than current mobile games in the market
The first game from the studio, expected next year, will be a puzzle suitable for teens and adults that requires the player to collect items and strategic plays to “create surprising synergies.” The company was founded by Ron Rejwan, Co-founder of Jelly Button, and Niv Touboul, Co-founder of Upopa Games. Both companies were acquired by Playtika and ironSource, respectively.
“I’ve found that the best way to dominate a market is to create it,” said Ron Rejwan, Co-founder and CEO of Sneaky Panda. “During my time at Jelly Button, we introduced Pirate Kings which brought the social casino genre to life and now generates billions of dollars a year. The mobile gaming market is saturated with companies that are trying to make better versions of existing products, but our approach at Sneaky Panda is to introduce the “Luck-Puzzler” genre, a completely new genre that puts more emphasis on skill and strategy than current mobile games in the market. A new generation of mobile players have emerged and they are ready for more diverse and challenging gameplay experiences”
BITKRAFT Ventures Founding Partner, Malte Barth, added: “Ron and Niv are highly experienced, extremely versatile, driven entrepreneurs whose speed and quality of execution is outstanding. Mobile gaming represents one of the fastest-growing gaming platforms worldwide and the market is ripe for genre innovations. The Sneaky Panda team is creating a completely new genre in the mobile gaming space and we believe there is a sizable audience that plays puzzle and luck games that will appreciate the innovative design of Sneaky Panda’s first title and become a loyal community,”
“We are excited to back one of the most innovative mobile gaming teams out of Israel in their endeavor of creating a new genre for gamers that expect a more diversified game-play experience today,” said Kevin Baxpehler, Managing Partner at Remagine Ventures.
Sneaky Panda was founded earlier this year. BITKRAFT Ventures is a global early and mid-stage investment platform for gaming, esports, and interactive media. It operates under four venture funds with a total of $600 million and has 60 companies in its portfolio. Remagine Ventures was founded by Baxpehler and Eze Vidra and partners with Israeli startups and helps network them with strategic partners.