UMX Studio secures $4.5m all-cash investment
UMX Studio has secured a $4.5m all-cash investment.
The Saudi Arabian studio says it will use the funds from investment company Jetapult to "support the expansion of [its] existing portfolio, expand audiences across global markets, and build games in new genres."
The company says the investment "comes in the context of the exponential growth of the gaming and e-sports sector in the MENA region, and with the Saudi National Gaming and Esports entity aiming to make the country a global gaming hub by 2030."
“This significant investment from Jetapult not only marks a milestone for UMX Studio but also heralds a new era for the Saudi Arabian gaming industry. We are thrilled to partner with a globally recognised leader in the gaming investments space," said UMX founder, Ali Alhardbi.
"This collaboration will not only accelerate our expansion but also empower us with advanced tools and expertise. In partnership with Jetapult we are committed to setting new benchmarks and establishing a solid foundation for nurturing and expanding Saudi Arabia’s gaming talent."
UMX Studio was established in 2014. To date, its games have generated over 70m downloads.
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