Sneaky Panda, an Israeli gaming company behind the “Luck-Puzzler” genre, has announced that it has raised $6 million in Seed to fulfill its mission to release its first title and launch an entirely new genre of mobile gaming. The round was led by BITKRAFT Ventures and included participation from Remagine Ventures, FireArc, Joakim Achren, and Eyal Chomski.
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.