About Gaming sector in Cyprus
The Gaming sector in Cyprus comprises 315 companies, including 44 funded companies having collectively raised $99.8M in venture capital money and private equity. Out of these, 17 are Series A+ funded, and 1 has achieved unicorn status.
Gaming sector in Cyprus has seen 12 acquisitions and 1 IPO.
This sector includes companies engaged in game development for personal computers, mobile devices, and eSports, as well as those supplying gaming hardware and software to studios, developers, players, and tournament organizers.
Gaming sector is also known as Gaming Tech.
Companies that create mobile, PC, and eSports games, game publishers and platforms, tech companies that supply analytics, monetization, and advertising to players, eSports organisations, and companies that create and sell gaming hardware like gaming PCs, controllers, and VR headsets, among others are included in this sector. Companies that specialise in real money gambling and betting include those creating, marketing, and selling mechanical arcade games, board games, puzzles, casino equipment, non-gaming virtual reality devices, professional simulation controllers, TV & audiovisual products, computers & peripherals, mobiles & accessories, and game developers are excluded.
Top Gaming Companies in Cyprus
There are 315 Gaming startups in Cyprus which include Nexters, Azur Games, Pixonic, Outfit7, AppQuantum. Out of these, 44 startups are funded, with 17 having secured Series A+ funding, and 1 achieving unicorn status.
2026 has seen the creation of 1 Gaming startup in Cyprus. Over the past 10 years, an average of 20 new companies have been launched annually. Notably, several of these startups have been founded by alumni of Seoul National University.
Here is the list of top Gaming startups in Cyprus
1. Nexters
Nexters is a mobile hame developer. It specializes in developing casual mobile games. It has developed games like Hero Wars – Hero Fantasy Multiplayer Battles which is an online RPG, Throne Rush which is a strategy game, and more. The games are available for Android and iOS users. It monetizes through in-app purchases and advertisements.
Key facts about Nexters
- Founded Year: 2009
- Location: Larnaca (Cyprus)
- Stage: Unfunded
- Tracxn Score: 66/100 What is this?
- Competitors Rank: 28 of 11,673 Competitors
2. Azur Games
Azur Games is a mobile game developer & publisher studio. The company specializes in developing mid-core & hyper-casual games. Some of the games developed by the company include Robot Warfare: Mech Battle 3D PvP FPS, World War Heroes: WW2 Shooter, Modern Strike Online: PRO FPS, Jurassic Monster World, Stack Ball & City Gangs, etc. These games are available on Android & iOS platform. It generates revenue through in-app purchases.
Key facts about Azur Games
- Founded Year: 2017
- Location: Nicosia (Cyprus)
- Stage: Unfunded
- Tracxn Score: 63/100 What is this?
- Competitors Rank: 13 of 1,074 Competitors
3. Pixonic
Developer of mobile-based core genres. The company's games include War Robots a multiplayer battle game, Robinson a role-playing game, and more. The games are available on the PC and console, app store, and google play store.
Key facts about Pixonic
- Founded Year: 2009
- Location: Nicosia (Cyprus)
- Stage: Acquired
- Total Funding till date: $6M
- Investors: Ventech, Kite Ventures and 6 Others
- Latest Funding Round: Series A, May 31, 2011, $*****
- Tracxn Score: 60/100 What is this?
- Competitors Rank: 5 of 137 Competitors
4. Outfit7
Talking Tom for Messenger app, a product of outfit7 has been downloaded 40 million times. Talking Tom first launched on iPhone and android in 2010. Outfit7 was the first company to reach 300 million downloads within 19 months. There are now six characters (Talking Tom, Talking Angela, Talking Ginger, Talking Ben, Talking Pierre, and Talking Gina) and a total of 14 apps within the Talking Tom and Friends umbrella brand. This app is integrated with a social media messenger. This app is perfect for sending messages users would otherwise be too shy to say in person.
Key facts about Outfit7
- Founded Year: 2009
- Location: Limassol (Cyprus)
- Stage: Acquired
- Tracxn Score: 59/100 What is this?
- Competitors Rank: 59 of 11,160 Competitors
5. AppQuantum
Mobile free-to-play game publisher. The company specializes in publishing mobile games to help developers. The games published by the company include Gold and Globlins, Idle light city, Off-road travel, and more. The games are available for iOS and Android devices.
Key facts about AppQuantum
- Founded Year: 2017
- Location: Limassol (Cyprus)
- Stage: Seed
- Investors: Playrix
- Latest Funding Round: Seed, Dec 2021, $*****
- Tracxn Score: 58/100 What is this?
- Competitors Rank: 17 of 501 Competitors
Companies founded year-on-year in the Gaming sector in Cyprus
1 new startup has been founded so far in 2026 in the Gaming sector in Cyprus. 46 Gaming startups in Cyprus were founded in 2019 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 1 |
2025 | - |
2024 | 11 |
2023 | 16 |
2022 | 19 |
2021 | 36 |
2020 | 36 |
2019 | 46 |
2018 | 20 |
2017 | 21 |
Stage-wise distribution of Gaming sector companies in Cyprus
Out of the total 315 Gaming companies in Cyprus, 44 have secured funding. Among them, 17 have reached Series A or higher, and 13 to Series B or beyond.
Founded - 315
Funded - 44
Series A+ - 17
Series B+ - 13
Series C+ - 13
Company Stage | No. of companies |
|---|---|
Founded | 315 |
Funded | 44 |
Series A+ | 17 |
Series B+ | 13 |
Series C+ | 13 |
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Funding Trends in the Gaming sector in Cyprus
Total funding year-on-year in the Gaming sector in Cyprus
The Gaming sector in Cyprus saw a total funding of more than $61.8M in the last 10 years. The most amount of funding was in 2024 at more than $22.7M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $6.6M |
2024 | $22.7M |
2023 | $10.3M |
2022 | $7.51M |
2021 | $4.56M |
2020 | $650K |
2019 | $1.03M |
2018 | $1.1M |
2017 | $1.36M |
Recent Funding Rounds in Gaming in Cyprus
In the year 2025, till June 2025, Gaming companies in Cyprus have raised $6.6M in equity funding across 2 rounds.
In the same period last year (i.e. till June 2024), Gaming companies in Cyprus had raised $300K across 3 rounds.
So, 2025 has seen a 2100% rise in funding in Gaming companies in Cyprus as compared to 2024.
Here are some recent, important funding rounds in Gaming companies in Cyprus:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 4294 | Jun 12, 2025 | ||
Seed | 3193 | May 16, 2025 | and 1 more | |
Series A | 4433 | Dec 05, 2024 | ||
Seed | 1635 | Sep 11, 2024 | ||
Series A | 8528 | Aug 14, 2024 |
Top Investors in Gaming in Cyprus
MGVC is the top investor in Gaming companies in Cyprus based on number of companies invested.
Here are some top investors in Gaming companies in Cyprus:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Amsterdam (Netherlands) | ||
Paphos (Cyprus) | ||
Limassol (Cyprus) | - | |
Limassol (Cyprus) | - | |
Frankfurt Am Main (Germany) |
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M&A activity in Gaming sector in Cyprus
In the year 2024, till November 2024, 2 acquisitions happened in Gaming sector in Cyprus.
Here are some recent, important acquisitions in Gaming sector in Cyprus:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Nov 14, 2024 | ||
Business Acquisition | Jan 22, 2024 | ||
Business Acquisition | Feb 18, 2022 | ||
Business Acquisition | Jan 28, 2022 | ||
Business Acquisition | Jan 27, 2022 |
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Acquisition trends in Gaming sector in Cyprus
Here are the acquisition trends in Gaming sector in Cyprus:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | 2 |
2023 | - |
2022 | 4 |
2021 | 4 |
2020 | 1 |
2019 | - |
2018 | 1 |
2017 | 1 |
IPOs in Gaming in Cyprus
In the year 2023, till March 2023, 1 IPO happened in Gaming sector in Cyprus.
Here are some recent, important IPOs in Gaming sector in Cyprus:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Mar 17, 2023 | National Association of Securities Dealers Automated Quotations (NASDAQ) |
Top News in Gaming in Cyprus
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Talking Tom & Friends × Miraculous® Expand High-Performing Collaboration OfflineGlobeNewswire•Jan 28, 2026•Outfit7, Chroma SF
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Outfit7 launches PlayValley to expand into PC and mobile game developmentPocket Gamer•Jan 21, 2026•Outfit7
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Barbie Joins Talking Tom & Friends Universe through Outfit7 PartnershipPocket Gamer•Jan 14, 2026•Outfit7, Mattel
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Outfit7 discusses Talking Tom Cat Remaster and the evolution of the IPPocket Gamer•Oct 13, 2025•Outfit7
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AppQuantum launches $10m strategic fund to back mobile game studiosPocket Gamer•Sep 15, 2025•AppQuantum
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Talking Tom & Friends: World Launches Globally, Offering Sandbox ExperiencesPocket Gamer•Aug 07, 2025•Outfit7
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Outfit7's "My Talking Tom Friends 2" Exceeds 6 Million Downloads in a WeekPR Newswire•Jul 22, 2025•Outfit7
