UMX, a sport studio primarily based in Saudi Arabia, has raised $4.5 million from Jetapult, an funding firm backed by Accel Companions.
Jetapult, an India-based world strategic funding firm within the gaming panorama, stated the funding was an all-cash transaction.
Along with buying fairness, Jetapult will present capital to assist the growth of UMX’s current portfolio, broaden its audiences throughout world markets, and construct video games in new genres.
Ali Alharbi, founding father of Riyadh-based UMX, stated in a press release, “This important funding from Jetapult not solely marks a milestone for UMX Studio but in addition heralds a brand new period for the Saudi Arabian gaming business. We’re thrilled to associate with a globally acknowledged chief within the gaming investments area. This collaboration is not going to solely speed up our growth but in addition empower us with superior instruments and experience.”
This will likely be Jetapult’s first funding within the (Center East/North Africa) MENA area, with additional investments deliberate in markets like South East Asia and Europe.
Jetapult’s workforce of worldwide gaming consultants, will assist catalyse the studio’s capabilities to boost person acquisition, scale monetization efforts, and undertake cutting-edge analytics and AI instruments via their “Make investments & Function” (I&O) mannequin.
Sharan Tulsiani (former head of Google Play Video games in India and Australia/New Zealand) and Yash Baid (former principal at 3one4 Capital) based Jetapult with backing from Accel Companions, Fireplace and JetSynthesys, amongst others.
The corporate goals to assist sport studios with a scientific method to sustainable progress in markets equivalent to Southeast Asia, MENA, Japanese Europe, and Latin America, via a $100 million dedication over the following 5 years.
Origins
UMX Studio, based by Ali Alharbi in 2014, is likely one of the first homegrown sport growth studios established in Saudi Arabia. The studio develops high-quality cellular video games that includes beautiful graphics, partaking gameplay, and suitability for all ages. Whereas it has been round for a decade, that is the primary time that the corporate has raised cash.
Saudi Arabia is now a thriving marketplace for esports and informal avid gamers. One of many gaps within the ecosystem was an absence of high quality native sport growth capabilities to construct culturally nuanced titles for the passionate avid gamers within the area. UMX has been addressing this and has constructed its firm profitably, focusing on Arabic customers that search resonating content material like sand dune-bashing, automotive modification, together with their general love of racing.
The corporate’s video games have garnered over 70 million downloads until date, and the corporate has proven constant year-on-year progress, pushed by a portfolio of video games that constantly high the Apple and Google charts within the area. UMX has 72 staff.
UMX studio has a historical past of constructing top-charting video games on Google and Apple within the racing style. Essentially the most notable being King of Steering, with a profitable title named DriftX set to launch earlier than Ramadan 2025. King Of Steering is the top-rated racing sport within the MENA area – it has a number of sport modes together with multiplayer racing, free-roam drifting, and stunt driving. It’s MENA-domiciled maps and Arabic optimized social layers drive shopper satisfaction.
Climbing Sand Dune Offroad pioneered a extra relaxed gameplay amenable to MENA audiences by permitting them to free-roam desert landscapes in off-road autos. It additional allowed gamers to improve vans, SUVs, and 4x4s in drag races, climbing sand dunes, and accumulate treasures with buddies.
Jetapult’s view of MENA
The funding comes within the context of the exponential progress of the gaming and esports sector within the MENA area with Saudi Arabia representing 39% of the Center East’s gaming income from shopper spending and is the fastest-growing market within the area, in accordance with Sensor Tower, 2024.
Jetapult stated it’s dedicated to UMX’s imaginative and prescient of fostering the Saudi Arabian market to turn into a hub for sport growth by harnessing Jetapult’s strategic experience and UMX’s native expertise and cultural nuance.
Tulsiani, CEO of Jetapult, stated in a press release, “Jetapult’s funding in UMX goes past offering capital; we deliver a wealth of confirmed gaming experience and cutting-edge expertise to this partnership with an goal to boost gaming experiences throughout the Center East’s rising growth ecosystem.”
Jetapult is an make investments and function firm backed by VCs like Accel & Fireplace and a strategic investor like Jetsynthesys. The corporate’s main operate is to take a position and scale cellular gaming studios in rising sport growth markets like India, MENA, SE Asia, Japanese Europe, and LATAM. It has been operational since 2023 with a dedication of $100 million into investing and scaling cellular gaming studios.
Barath Shankar Subramanian, associate at Accel, stated in a press release, “Jetapult’s funding in UMX Studio marks a big milestone in increasing its presence in rising markets like MENA, the place gaming and sport growth is quickly gaining momentum. Jetapult’s distinctive ‘Make investments & Function’ mannequin, which was the core of our funding thesis, has the potential to remodel the worldwide gaming ecosystem, enabling progress for gaming studios and the exploration of recent gaming genres.”
