Sheba Joy, a mobile gaming studio based in Riyadh, has raised $293,000 (SAR 1.1 million) in a pre-seed funding round. Merak Capital, a Saudi venture capital firm, led the investment.
Sheba Joy was founded in 2021 at Dubai Silicon Oasis but later shifted its headquarters to Riyadh to support Saudi Arabia’s Vision 2030 goal of becoming a global gaming hub.
The company continues to maintain offices in Dubai and also operates a creative game studio in India.
So far, Sheba Joy has released two games and is planning to launch four more titles in 2025.
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“With Merak Capital’s support, we are scaling our operations in Riyadh to deliver world-class titles that can compete internationally and contribute to Saudi Arabia’s vision of becoming a global gaming powerhouse,” said Ebrahim Al Hussam, CEO of Sheba Joy.
Merak Capital’s investment is part of its larger plan to support the gaming industry in the MENA region, which is growing quickly thanks to a young population and widespread smartphone use.
By investing in companies like Sheba Joy, Merak aims to create fun and engaging gaming experiences for players worldwide.
It also wants to strengthen Saudi Arabia’s position as a global leader in interactive entertainment.
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