Draft:Mundfish
From Wikipedia, the free encyclopedia
Mundfish is an international video game development studio headquartered in Cyprus in 2017. The company is best known for the action-adventure first-person shooter with RPG elements Atomic Heart (2023), which received generally positive reception from players and media. Mundfish operates development hubs in Cyprus, Armenia, and the United Arab Emirates.
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- Robert Bagratuni
- Evgenia Sedova
- Artem Galeev
- Oleg Gorodishenin
 | |
| Company type | Private |
|---|---|
| Industry | Video games |
| Founded | 2017 |
| Founders |
|
| Headquarters | , |
Key people | Robert Bagratuni (CEO) |
| Products | Atomic Heart |
| Website | www |
In 2021, prior to the release of Atomic Heart, the studio stated that a sequel was already being planned.[1] In June 2023, Mundfish officially confirmed development of the sequel. In May 2025, the company announced a new publishing initiative, Mundfish Powerhouse. Two new titles — Atomic Heart 2 and an MMO RPG shooter The CUBE — were announced at Summer Game Fest in June 2025, while the first-person action survival horror title ILL was unveiled as the first external project published under Mundfish Powerhouse.
History
Mundfish was founded in 2017 by CEO Robert Bagratuni and CFO Evgenia Sedova, later joined by art director Artem “Artep” Galeev and producer Oleg Gorodishenin.[2][3] The team’s early work included the virtual reality title Soviet Lunapark, which was removed from sale in late 2018 when development shifted toward a more ambitious project: Atomic Heart.[4]
As development progressed, Atomic Heart expanded into a multi-platform AAA game, and the studio grew to more than 130 employees by the time of the game’s global launch in February 2023.[5] During the COVID-19 pandemic, Mundfish transitioned to remote operations and has since continued working as a distributed team with main hubs in Paphos, Yerevan, and Abu Dhabi.[6][7]
In 2019 and 2021, Mundfish secured investment rounds to support large-scale production. According to Crunchbase, Mundfish raised $16 million in two investment rounds in 2019 and 2021. According to Forbes, the amount from the Chinese investment holding Tencent, the international investment company GEM Capital, and the founder of the game studio Gaijin Entertainment, Anton Yudintsev, could be around $20 million.[7][8][9] The studio received industry recognition as a rising-star winner in the Deloitte Technology Fast 500 program for the Middle East and Cyprus regions in 2024.[10]
Following the success of Atomic Heart, the company announced plans to expand the franchise’s universe and develop additional titles. In 2025, Mundfish launched its publishing label Mundfish Powerhouse to support independent developers.[11]
Games developed
| Title | Year | Platform(s) | Publisher |
|---|---|---|---|
| Atomic Heart | 2023 | PlayStation 4, PlayStation 5, Xbox One, Xbox Series X/S, Microsoft Windows | Focus Entertainment,
4Divinity, Astrum Entertainment |
| Atomic Heart 2 | TBA | TBA | Mundfish |
| The CUBE | TBA | TBA | Mundfish |
Publishing initiative: Mundfish Powerhouse
In May 2025, Mundfish introduced the publishing label Mundfish Powerhouse to support independent and emerging studios through funding, production expertise, and marketing resources. The first title announced under the label was the realistic first-person action survival horror game ILL, developed by Team Clout.[12]
Controversies
Mundfish has faced scrutiny regarding its origins and investor background. Although headquartered in Cyprus, several media outlets noted in 2023 that the founding team consists of Russian-speaking industry professionals and that early investment included contributions from companies with ties to Russia. These factors prompted questions from some commentators about the studio’s geopolitical neutrality. Mundfish has stated that it operates as an independent, multinational company.[13][14]
Reception and impact
Atomic Heart brought Mundfish international attention for its retrofuturistic visual identity and high production values. Critics praised the game’s art direction and worldbuilding, while expressing mixed views on pacing and mechanical consistency. By May 2025, Mundfish reported that the game had reached 10 million players worldwide.[15]