FLOATY Studio, a Saudi mobile game developer founded in 2023, has successfully secured $1 million in a funding round led by Merak Capital through its Merak Gaming Fund. The studio, which specializes in creating casual and hybrid-casual mobile games aimed at international markets, is currently focused on two flagship titles: Pirasea, a strategy game set in a pirate universe, and Hero Squad, a sci-fi action game where players assemble heroes to combat robotic foes. This new capital infusion is intended to accelerate the development of FLOATY's gaming portfolio and bolster its production capabilities as it aims to establish a foothold for Saudi-developed intellectual property in global markets.
The investment from Merak Capital, part of an $80 million fund dedicated to nurturing high-potential gaming startups, underscores the growing confidence in the Saudi gaming ecosystem. Merak Capital has a history of backing local gaming ventures, including Qwacks and Khosouf Studio, as part of its strategy to cultivate a competitive landscape for game development in the Kingdom. The backing of FLOATY Studio aligns with broader national initiatives to position Saudi Arabia as a regional hub for gaming entrepreneurship, fostering local talent and promoting original content creation for international audiences.
As FLOATY Studio embarks on its journey to capture a share of the global mobile gaming market, the funding signifies a pivotal moment not only for the company but also for the burgeoning gaming sector in Saudi Arabia. The Kingdom's commitment to supporting homegrown studios reflects a strategic approach to diversifying its economy and enhancing its digital entertainment offerings. With the influx of capital, FLOATY Studio is poised to leverage its innovative game concepts and production capabilities to compete on a global scale, potentially attracting further investment and interest in the region's gaming landscape.
The investment from Merak Capital, part of an $80 million fund dedicated to nurturing high-potential gaming startups, underscores the growing confidence in the Saudi gaming ecosystem. Merak Capital has a history of backing local gaming ventures, including Qwacks and Khosouf Studio, as part of its strategy to cultivate a competitive landscape for game development in the Kingdom. The backing of FLOATY Studio aligns with broader national initiatives to position Saudi Arabia as a regional hub for gaming entrepreneurship, fostering local talent and promoting original content creation for international audiences.
As FLOATY Studio embarks on its journey to capture a share of the global mobile gaming market, the funding signifies a pivotal moment not only for the company but also for the burgeoning gaming sector in Saudi Arabia. The Kingdom's commitment to supporting homegrown studios reflects a strategic approach to diversifying its economy and enhancing its digital entertainment offerings. With the influx of capital, FLOATY Studio is poised to leverage its innovative game concepts and production capabilities to compete on a global scale, potentially attracting further investment and interest in the region's gaming landscape.
Source: Wamda
