# Cypher Games funding: rounds and investors > Cypher Games has raised $40M across 2 rounds since 2024. Investors include Play Ventures, Raine Ventures and 500 Global. Every round with its source. Source: https://millionrounds.com/company/cypher-games (Millionrounds; every figure on the page links to its filing or article) United States · [Series A startup](https://millionrounds.com/companies) # Who invested in *Cypher Games* 2 rounds we have observed, with the 10 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Consumer Apps Gaming Web3 & Crypto Follow Cypher Games and see its new rounds in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Fcompany%2Fcypher-games) Funding summary Updated 5 Nov 2026 **$40M** raised across 2 rounds since 2024, from 2 sources **$10M** Seed **$30M** Series A - **Latest round:** Series A, $30M Oct 2025 - **Led by:** Play Ventures and Raine Ventures - **Step-up i:** 3× - **Investors:** 10 (2 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2025 **$10M** Seed **$30M** Series A - **First round:** Seed, $10M - **Biggest round:** $30M - **Between rounds:** 13 months ## The rounds - **Oct 2025** Series A **$30M** *6 new* *3 returning* [Play Ventures](https://millionrounds.com/fund/play-ventures) Lead [Raine Ventures](https://millionrounds.com/fund/raine-ventures) Lead [500 Global](https://millionrounds.com/fund/500-startups) [Riccardo Zacconi](https://millionrounds.com/fund/riccardo-zacconi) [Big_bets](https://millionrounds.com/fund/big-bets) [E2vc](https://millionrounds.com/fund/e2vc) [Akin Babayigit](https://millionrounds.com/fund/akin-babayigit) [Humam Sakhnini](https://millionrounds.com/fund/humam-sakhnini) [MIT](https://millionrounds.com/fund/mit) Reported by Ventureburn SEC filing: $21M sold, first sale Aug 2025 - **Sept 2024** Seed **$10M** *4 new* [500 Global](https://millionrounds.com/fund/500-startups) [Play Ventures](https://millionrounds.com/fund/play-ventures) [Raine Ventures](https://millionrounds.com/fund/raine-ventures) [500 Emerging Europe](https://millionrounds.com/fund/500-emerging-europe) Source recorded SEC filing: $8.8M sold, first sale Aug 2024 ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Seed** 2024 **Series A** 2025 [Play Ventures](https://millionrounds.com/fund/play-ventures) L [Raine Ventures](https://millionrounds.com/fund/raine-ventures) L [500 Global](https://millionrounds.com/fund/500-startups) [500 Emerging Europe](https://millionrounds.com/fund/500-emerging-europe) [Riccardo Zacconi](https://millionrounds.com/fund/riccardo-zacconi) [Big_bets](https://millionrounds.com/fund/big-bets) [E2vc](https://millionrounds.com/fund/e2vc) [Akin Babayigit](https://millionrounds.com/fund/akin-babayigit) [Humam Sakhnini](https://millionrounds.com/fund/humam-sakhnini) [MIT](https://millionrounds.com/fund/mit) ## Everyone who backed them [Play Ventures](https://millionrounds.com/fund/play-ventures) VC firm **2** rounds, led 1 [Raine Ventures](https://millionrounds.com/fund/raine-ventures) VC firm **2** rounds, led 1 [500 Global](https://millionrounds.com/fund/500-startups) Angel **2** rounds [500 Emerging Europe](https://millionrounds.com/fund/500-emerging-europe) VC firm **1** round [Riccardo Zacconi](https://millionrounds.com/fund/riccardo-zacconi) VC firm **1** round [Big_bets](https://millionrounds.com/fund/big-bets) VC firm **1** round [E2vc](https://millionrounds.com/fund/e2vc) VC firm **1** round [Akin Babayigit](https://millionrounds.com/fund/akin-babayigit) Angel **1** round [Humam Sakhnini](https://millionrounds.com/fund/humam-sakhnini) Angel **1** round [MIT](https://millionrounds.com/fund/mit) VC firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=cypher-games). ## Also claim to have backed them This firm lists Cypher Games as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above. [Play Ventures PTE LTD](https://millionrounds.com/fund/play-ventures-pte-ltd) Investor Per its own site ## Quick answers about Cypher Games ### Who invested in Cypher Games? Cypher Games's investors include Play Ventures, Raine Ventures, 500 Global, 500 Emerging Europe and Riccardo Zacconi, and 5 more on record. Play Ventures led its latest round. ### How much has Cypher Games raised? Cypher Games has raised $40M across 2 rounds since 2024. ### When did Cypher Games last raise? Cypher Games's most recent round was a Series A of $30M in Oct 2025, led by Play Ventures. ### What was Cypher Games's biggest round? Its most recent round, $30M in Oct 2025, is also its largest on record. ### Who backed Cypher Games first? Cypher Games's first round on record, in Sept 2024, was backed by 500 Global, Play Ventures and Raine Ventures and 1 others. ### What stage is Cypher Games at? Cypher Games's latest named round is a Series A, in Oct 2025. ### Where is Cypher Games based? Cypher Games is based in the United States. ### Who led Cypher Games's rounds? Play Ventures led the Series A in 2025. ## Companies like Cypher Games In the same sector, and raised in the last eighteen months. [**Omni** $244M · Nov 2026](https://millionrounds.com/company/omni)[**Pathfinder** $13M · Nov 2026](https://millionrounds.com/company/pathfinder)[**Predicate** $16M · Oct 2026](https://millionrounds.com/company/predicate)[**Plato** $40M · Oct 2026](https://millionrounds.com/company/plato)[**iQSTEL** $4.0M · Oct 2026](https://millionrounds.com/company/iqstel)[**Parasol** $4.8M · Oct 2026](https://millionrounds.com/company/parasol) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app