Riyadh-headquartered gaming studio, Sheba Joy, has raised $293,000 (SAR 1.1 million) in a pre-seed round led by Saudi venture capital firm Merak Capital. With the new funding, Sheba Joy will expand its production, attract talent, and develop culturally grounded games that align with Saudi Arabia’s Vision 2030.
By the Numbers
The pre-seed round marks a key milestone for the growing studio:
- $293K (SAR 1.1M): The total value of the pre-seed round.
- Founded in 2021: The year the mobile game studio was launched.
- 4 Additional Games: The number of new games the studio is preparing to launch in 2025.
A Strategic Move to Riyadh
Founded in 2021, Sheba Joy was originally headquartered in Dubai Silicon Oasis. The mobile game studio has now moved its headquarters to Riyadh, a move that is in alignment with Saudi Arabia’s vision to become a global gaming hub. The company still maintains offices in Dubai and has a creative game studio in India. Sheba Joy has already published two games and is preparing to launch four more this year.
Fueling a Pipeline of Culturally Grounded Games
The newly acquired funding will be used to expand the studio’s production capabilities and attract top talent. The company aims to develop commercially successful games that combine accessibility with depth, delivering engaging and culturally grounded experiences to a global audience.
“The MENA gaming industry is growing at an unprecedented pace, but there is still a shortage of content that truly represents our region while appealing to global audiences,” said Ebrahim Al Hussam, CEO of Sheba Joy. “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”.
Investing in a High-Growth Regional Market
This investment is part of Merak Capital’s broader strategy to foster the growth of the gaming sector in the MENA region. The region is characterized by having one of the youngest populations in the world and a rising smartphone penetration rate, making it a key market for mobile gaming.
Source: WAYA
