French startup MadBox is raising a $16.5 million (€15 million) Series A funding round from Alven. The company is developing mobile games and handles everything from start to finish, from game design to publishing and user acquisition.
The company was founded in July 2018 and consists of more than 30 employees in its Paris-based office. With its new funding, MadBox is planning to set up shop in Barcelona with a second office; representing a significant growth milestone for the company,
MadBox is a young player in the mobile game space. The startup released its first game, Dash Valley in 2018 and the game quickly ended up trending in the top 50 of top free game downloads in the App Store in the U.S.
100 million game downloads
The gaming market is one of the rapidly growing sectors across the world right now. As per a report by The Global Games Market Report, there are around 2.5 billion games established across the world.
Since launching its first game Dash Valley last year, MadBox has released a small catalogue of mobile games; Idle Zoo Tycoon, Stickman Hook, Golf Race, Sausage Flip to name some. Overall, MadBox has generated 100 million game downloads.
Taking it slowly
MadBox adopts a careful approach when it comes to growth and expansion. The company hires slowly and doesn’t release dozens of games in a year. with about 40 staffs and a business model mostly based on ads, the company is currently profitable. MadBox now wants to explore a wider range of mobile games, from hyper casual to idle games and less casual games.