Mika Games, a gaming investment company founded by Wargaming co-founder Nick Katselapov, has raised $10 million in a funding round led by Flint Capital, with participation from new and existing investors.

The company focuses on helping early-stage mobile game studios secure funding for product development and user acquisition. Many young studios struggle to obtain marketing capital because investors often require proven campaign results, previous marketing spending of $300000 to $500000 and evidence of predictable returns.

Mika Games aims to address this challenge by investing in studios before they establish a strong user acquisition track record. Its funding model combines equity investments for product development and studio operations with additional capital for large-scale marketing campaigns.

These campaigns help studios evaluate player retention, monetisation, and marketing payback periods, making it easier to secure further funding for growth.

According to founder Nick Katselapov, rising user acquisition costs and fewer new games reaching the top download rankings are making it increasingly difficult for new mobile titles to attract players.

Mika Games has expanded its portfolio from three to five game studios this year. Its investments include Guli Games, the developer of the 3D farming adventure Legendale, which has attracted more than 3 million players worldwide, and Agonalea Games, whose roguelike tower defence title Punko has surpassed 500,000 downloads.

The company’s portfolio also includes Bulberry Studio, developer of Wargard, a mobile strategy game combining deck building with direct troop control in player-versus-player battles, and LevelApp, which develops merge-2 games such as Merge Dale and Sea Bloom.

The new funding will support game development and larger marketing campaigns across its portfolio.

Mika Games aims to help studios test their games’ commercial potential, reach more players and build sustainable mobile gaming businesses.