Written by Dante Uzel on 16 October 2024 01:46
Mobile games developer and publisher UMX Studio has announced a significant $4.5 million investment from investment firm Jetapult. This all-cash deal marks Jetapult's first venture in the MENA region, as the firm aims to broaden its investments across Southeast Asia and Europe.
The funding comes at a time of rapid growth in the MENA video games and esports sector, which is projected to generate $7.2 billion in revenue in 2023, according to estimates from Newzoo. With this new investment, UMX Studio plans to expand its portfolio and reach a wider audience while developing new gaming experiences.
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“This significant investment from Jetapult not only marks a milestone for UMX Studio but also heralds a new era for the Saudi Arabian gaming industry,” said Ali Alharbi, CEO and founder of UMX. “This collaboration will not only accelerate our expansion but also empower us with advanced tools and expertise. In partnership with Jetapult, we are committed to setting new benchmarks and establishing a solid foundation for nurturing and expanding Saudi Arabia’s gaming talent.”
Tags: UMX Studio
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