African gaming platforms are reporting increased investment activity, demonstrating investor confidence in Africa’s growing reputation as a market for the gaming industry.
South African game startup, Carry1st recently raised $27 Raised $1 million in pre-series B round. This is the largest funding for an African gaming startup and Carry1st’s largest funding since its inception in 2018.
“Carry1st will use the funds to develop, license and publish new games, as well as further expand its monetization-as-a-service solution, Pay1st,” the company said in a statement. I’m here.
The mobile game publisher has raised $20 million in Series A funding in January 2022 and $6 million in May 2021.
Carry First and “The President”
After a successful funding round in 2022, ‘The President’, a game developed in partnership with CrazyHubs game accelerator, has become one of the most downloaded games in U.S. This game is loosely based on the fictional Donald Trump.
“2022 has been a year of great growth and together with our partners we look forward to making 2023 even better.
The company’s latest funding was backed by gaming venture heavyweights such as BITKRAFT, a global investment platform for games, Web3 and immersive technology, and Andreessen Horowitz, an American venture capital firm focused on the fundraising stage. It is
Jens Hilgers, general partner at BITKRAFT Ventures, said:
Number of mobile gamers in Africa from 2015 to 2021 more than 2 times A 2021 study commissioned by Newzoo and Carry1st covering sub-Saharan Africa shows an increase from 77 million to 186 million. It turns out that 95% of his gamers play games on their smartphones.
G Ballena and Galactec
January, Egyptian esports platform, GBarena has entered into an agreement to acquire Tunisia-based Galactech in a stock exchange transaction worth $15 million.
This deal helps GBArena expects to complete a Series A funding with foreign investors from the US later this year, thus expanding into the burgeoning North African marketS.Singapore, MENA region, the company said in a statement.
GBarena Chairman Ahmed Abou Doma said:
pug, Scrimmish, Metaverse Magna
In 2022, the industry also recorded some investments, but their value was small and in some cases undisclosed—More than 10 game studios have teamed up to form the Pan-African Gaming Group (PAGG) to take advantage of growth opportunities, including investor funding.
South African startup Skrmiish has raised $2.5 million in seed funding to accelerate global expansion of its mobile “play to earn” app, with 100,000 players in 100 jurisdictions to date. , started live at U.K. and Europe.
In September 2022, Nigeria-based blockchain gaming platform Metaverse Magna (MVM) raised $3.2 million, valuing the company at around $30 million.
MVM is eyeing a crypto-growth fund to create the continent’s largest Decentralized Autonomous Organization (DAO), allowing players to manage their own alien worlds.
“We are expanding the greenfield cryptocurrency gaming market into Africa and beyond, and are looking for partners who share our mission,” the company said on its website.
PAGG’s goal is to increase the number of mobile gamers to 1 billion through capacity development and training of game developers across the continent.
“There is already a wealth of great talent on the continent, with many graduates each year from top game development schools like Rubika. We are relegated to doing remote work for overseas clients. We will fix that,” PAGG said in a statement.
The group believes that the rapidly growing number of users connected to the mobile internet, a burgeoning young population and a rising middle class are opening up tremendous investment opportunities in the continent’s gaming industry.
According to the GSMA’s The Mobile Economy Sub-Saharan Africa report, the region’s 400 million internet-connected smartphone users will reach 680 million by the end of 2025.
Statista projects that the number of mobile game users in Africa will grow to more than 310 million by 2027, with revenue soaring to $2.27 billion, with an annual growth rate of 7.15%. During the period.
The original version of this article was no bird african filter.