Nice Plans Studio, a Cyprus-based game development company, has announced the successful closure of a $3 million funding round led by Pixeldog, a family office, with $600,000 contributed by the studio’s founders.
The funding is earmarked for the continued development and scaling of Ricochet Squad, a new mobile shooter that seeks to differentiate itself in a highly competitive market.
Background: From Tacticool to Ricochet squad
The team behind Nice Plans Studio is not new to the mobile shooter genre. Their previous title, Tacticool, achieved significant commercial success, generating $90 million in revenue and securing over 30 million installs. Tacticool was recognized by Google Play as one of the top five competitive mobile games of 2019. Building on this experience, the studio’s founders, Roman Malakhov (CEO) and Dmitry Koblyk (Game Director), have spent the past eight years developing and scaling mobile shooters.
Ricochet Squad, their latest project, has reportedly outperformed Tacticool in key early metrics. During its soft launch, the game doubled early retention rates to match leading shooter benchmarks and achieved a day-one player-to-payer conversion rate of 4-5%, which is considered near the top percentile for the genre. The company claims that Ricochet Squad is already onboarding thousands of new players.
Game design: Physics-driven combat and teamplay
Ricochet Squad distinguishes itself from other mobile shooters by focusing on physics-driven combat and team-based tactics rather than precision aiming or solo play. The game features fast-paced 3v3 matches where players combine abilities to create powerful team combos. For example, one character can deploy a gravity funnel to cluster enemies, while another can follow up with explosives for a coordinated attack.
A notable technical feature of Ricochet Squad is its network architecture. The game runs a full simulation on the server, allowing for real-time destruction that is synchronized for all players. This means that when a player destroys a large object in the game world, every participant sees the same debris in the same location at the same time.
“Our mission is to evolve mobile multiplayer through games built on shared foundations: physics-driven combat, reimagined controls, meaningful teamplay, and systems designed for long-term engagement,” said Roman Malakhov, Co-founder and CEO of Nice Plans Studio.
Market context: Mobile shooter growth and competition
The mobile shooter market has seen rapid growth in recent years, driven by the popularity of titles such as PUBG Mobile, Call of Duty: Mobile, and Garena Free Fire. According to a recent DataIntelo report, the segment is projected to surpass $24.3 billion by 2032, growing at a compound annual growth rate (CAGR) of 12.5%. This expansion is attributed to increasing smartphone penetration, improved mobile hardware, and the rise of free-to-play models with in-app purchases.
Despite the market’s potential, competition is intense. Established publishers and studios with significant resources dominate the top charts, making it challenging for new entrants to capture and retain player attention. Differentiation through innovative gameplay mechanics and technical features, such as those claimed by Ricochet Squad, may provide an avenue for smaller studios to carve out a niche.
Monetization and player retention
Early data from Ricochet Squad’s soft launch indicates promising monetization and retention metrics. The game’s player-to-payer conversion rate of 4-5% on day one is notable, as mobile games typically see conversion rates below 2% in the early stages. Additionally, doubling early retention rates to match top shooter benchmarks suggests that players are engaging with the game beyond initial sessions.
These metrics are critical for the long-term viability of free-to-play mobile games, where sustained engagement and in-game spending drive revenue. However, maintaining these figures as the player base grows and the game enters new markets will be a key challenge.
Technical approach: Server-side simulation and real-time destruction
Ricochet Squad’s technical architecture is designed to support its physics-driven gameplay. By running a full game simulation on the server, the developers enable real-time destruction and consistent experiences for all players. This approach differs from traditional client-based simulations, which can lead to discrepancies in what players see on their screens.
The emphasis on synchronized physics and destruction is intended to create more dynamic and unpredictable matches, where teamwork and environmental awareness are crucial. The studio plans to further expand this formula in future titles by introducing a chemistry engine (incorporating elements like fire and ice) and vehicles, potentially adding new layers of strategy and interaction.
Team and operations
Nice Plans Studio operates as a lean, distributed team of 21 people headquartered in Cyprus. The founders’ long-standing collaboration and prior experience with Tacticool provide a foundation for the studio’s current ambitions. The company is now preparing for a Series A funding round to scale Ricochet Squad and pursue a broader portfolio strategy centered on physics-driven combat.
Future plans and industry trends
Looking ahead, Nice Plans Studio intends to build on the core gameplay mechanics of Ricochet Squad by integrating additional features such as a chemistry engine and vehicles. The studio’s approach aligns with broader industry trends that emphasize innovation in gameplay and technical execution as ways to stand out in a crowded market.
The success of Ricochet Squad will likely depend on the studio’s ability to sustain player engagement, monetize effectively, and adapt to evolving player preferences. The mobile shooter genre continues to evolve, with new titles regularly introducing fresh mechanics, social features, and monetization models.
What we think about the startup
Nice Plans Studio’s $3 million funding round reflects ongoing investor interest in the mobile shooter genre, particularly for projects that promise technical and gameplay innovation. With Ricochet Squad, the studio aims to leverage its experience from Tacticool while introducing new mechanics centered on physics-driven combat and teamplay.
Whether Ricochet Squad can maintain its early momentum and compete with established titles remains to be seen. The mobile shooter market is both lucrative and highly competitive, requiring continuous innovation and strong execution. As Nice Plans Studio prepares for further expansion and additional funding, the industry will be watching to see if its approach to reimagining mobile shooters can translate into sustained success.
