Turkish mobile and PC developer Studio Billion have received an undisclosed amount from major investment funds including WePlay Ventures, Aura B4YO Fund and Lima Ventures.
The company first found success with Spin Warriors, the popular casual mobile title and intends to leverage the investment to slowly grow their team, from 15 at present to 25. The main focus for the investment however will be on producing their new AR title, Rumble Suits, including marketing the game.
The studio is confident the path to success lies in the growing AR industry. An aim which is likely emboldened by the recent announcement of the Apple Vision Pro, a major step in an AR/VR powered mobile device. If succesful it would open up a whole new market for the studio.
The team, collectively, stated “We are delighted to have successfully accomplished all our short-term goals on our journey to ‘Entertaining Billions.’ As we embark on this new phase, we will relentlessly pursue one of our biggest long-term goals: developing successful and enjoyable XR (Extended Reality) games.
"We are reassured and encouraged by the fact that WePlay Ventures, a leading game-focused investment company in Turkey and Europe, with valuable know-how and network in the AR/VR field, B4YO, and Lima Ventures, which specializes in targeted investments in their fields, including successful exits in the gaming industry, will be our running partners.
"By strengthening our capabilities with new investors who will join us in the Series A round, which we plan to complete by the end of the year, we aim to become one of the early-adopter names in the AR Glasses industry.”
Turkish investment in AR
It's notable that, although AR is still a relatively young technology, studios are already pursuing - and receiving - investment in order to scale and market their games. The region has already been a major attractor of investment both internally and internationally and this investment reflects the desire for studios within Turkiye to actively scale their development capability. Rumble Suits success could therefore influence further investment in the region for mobile AR developers.