UAE-based True Gamers has raised $5M in seed funding to expand across MENA and Europe through franchising and venture capital.
This follows a $45M raise in January to build over 150 esports venues in Saudi Arabia as part of Vision 2030.
Founded in 2022, True Gamers runs gaming cafés and plans to boost regional esports by growing its tech and franchise network.
True Gamers
What happened? UAE’s True Gamers raised $5 million in seed funding.
This follows a $45 million round in January 2024 to build over 150 esports centers in Saudi Arabia.
“The expansion into Saudi Arabia will elevate True Gamers’ global presence and play a pivotal role in propelling the growth of the Kingdom’s eSports industry,” said True Gamers founder and CEO Anton Vasilenko.What will they do with the funding? With the capital, it aims to expand across MENA and Europe. It also aims to expand its franchise network and develop its tech stack. Furthermore, the company seeks to scale through a hybrid model of franchising and venture capital.
Gaming
Who are they?
Founded in 2022 by Anton Vasilenko and Vladislav Belyanin, True Gamers is an esports gaming club chain headquartered in Abu Dhabi’s International Financial Centre. The company operates 14 gaming cafés in the UAE and is expanding with 10 new locations across the UAE, Morocco, Saudi Arabia, Jordan, Germany, and France.
The Gaming Market
According to Statista, the global gaming market is expected to reach $522.46 billion by 2029. Venture investment in gaming has also surged, rising 35% this year compared to the previous quarter, totaling $373 million.
GCC Gaming Market
The esports sector in the GCC is growing rapidly. For example, the esports market in the region is projected to generate $25.9 million in revenue by 2025, with the number of users expected to reach 5.9 million by 2029. The rise in dedicated gaming arenas and esports facilities reflects this growth. Saudi Arabia’s Vision 2030 highlights esports as a key strategy to engage the youth and drive investment and innovation in the digital sector.
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