UMX, a recreation studio primarily based in Saudi Arabia, has raised $4.5 million from Jetapult, an funding firm backed by Accel Companions.
Jetapult, an India-based international strategic funding firm within the gaming panorama, mentioned the funding was an all-cash transaction.
Along with buying fairness, Jetapult will present capital to help the growth of UMX’s current portfolio, develop its audiences throughout international markets, and construct video games in new genres.
Ali Alharbi, founding father of Riyadh-based UMX, mentioned 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 companion with a globally acknowledged chief within the gaming investments house. This collaboration is not going to solely speed up our growth but in addition empower us with superior instruments and experience.”
This shall 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 world gaming consultants, will assist catalyse the studio’s capabilities to boost consumer acquisition, scale monetization efforts, and undertake cutting-edge analytics and AI instruments by 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 help recreation studios with a scientific method to sustainable development in markets reminiscent of Southeast Asia, MENA, Jap Europe, and Latin America, by a $100 million dedication over the subsequent 5 years.
Origins
UMX Studio, based by Ali Alharbi in 2014, is likely one of the first homegrown recreation growth studios established in Saudi Arabia. The studio develops high-quality cellular video games that includes gorgeous 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 recreation 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, automobile 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 development, pushed by a portfolio of video games that constantly high the Apple and Google charts within the area. UMX has 72 workers.
UMX studio has a historical past of constructing top-charting video games on Google and Apple within the racing style. Probably 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 recreation within the MENA area – it has a number of recreation 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 automobiles. It additional allowed gamers to improve vans, SUVs, and 4x4s in drag races, climbing sand dunes, and gather treasures with buddies.
Jetapult’s view of MENA
The funding comes within the context of the exponential development 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 line with Sensor Tower, 2024.
Jetapult mentioned it’s dedicated to UMX’s imaginative and prescient of fostering the Saudi Arabian market to turn out to be a hub for recreation growth by harnessing Jetapult’s strategic experience and UMX’s native expertise and cultural nuance.
Tulsiani, CEO of Jetapult, mentioned in a press release, “Jetapult’s funding in UMX goes past offering capital; we convey a wealth of confirmed gaming experience and cutting-edge know-how 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 perform is to take a position and scale cellular gaming studios in rising recreation growth markets like India, MENA, SE Asia, Jap 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, companion at Accel, mentioned in a press release, “Jetapult’s funding in UMX Studio marks a major milestone in increasing its presence in rising markets like MENA, the place gaming and recreation growth is quickly gaining momentum. Jetapult’s distinctive ‘Make investments & Function’ mannequin, which was the core of our funding thesis, has the potential to rework the worldwide gaming ecosystem, enabling development for gaming studios and the exploration of latest gaming genres.”
