In 2024, Merak Capital, a leading technology-focused investment firm, launched its 306 million Saudi Riyals ($81 million) gaming fund, Exel by Merak, a gaming accelerator to empower the next generation of gaming startups.
Over the course of 14 weeks, the founders underwent extensive mentorship and coaching experience with the world’s top experts, and each team received a $300,000 investment with the opportunity for subsequent investment rounds, as well as an extensive network of international publishers and investors.
Companies of the first batch from the Exel by Merak accelerator:
- Copa Fantasy: A leading application in football games covering the Saudi league and the most important European leagues, with fantasy experiences and predictions, and the addition of trivia competitions is soon to increase interaction and fun.
- Twenty Ninety Creative : A creative studio that seeks to create unique entertainment experiences that combine passion, dazzling graphics, and technical mastery, leaving happy memories for everyone who interacts with them.
- Symmetric Studio: A mobile game studio founded in 2024 in Riyadh, it has proven its worth at SGC Incubator with its focus on developing high-quality action games.
- DaFluffs Games: A studio that puts the fun of gaming at the forefront by turning the fake ads that are circulating into real, fast, fun, and honest games that meet the desires of players.
- Superbullet Studios: Focused on developing Roblox games using artificial intelligence in workflows, and building innovative next-generation entertainment ecosystems.
- Studio AstraValle: A Saudi joint stock startup, led by a passionate and fast-growing team focused on delivering world-class PC and console games.
- FitNot Games: It aims to bridge the large gap in Arabic content in the market, by providing innovative games that address local and regional audiences.
- Evolite Studio: An award-winning studio that creates unique Lo-Poly gaming experiences with an Arabic theme that reflects identity and culture.
- Rojeh Games: An iconic studio that develops original games full of clever puzzles and timeless characters that leave an emotional impression on players.
- SHEBA JOY: A studio specialized in the development and dissemination of high-quality mobile games, with a distinctive cultural character and targeting global audiences with impactful entertainment experiences.
- HYS Games: A Saudi studio with a clear vision and a strong track record, it has developed more than 80 mobile games, including those that have topped the global rankings, with solid partnerships with major international publishers.
- LIVA Interactive: The 2022 Google IGA alumni studio, featuring hit games such as easyBoat, SUPERPUNK Tactics, and Grapple Gum.
- Studio Eshi Games: A startup founded in 2023 to offer mobile games that blend culture and entertainment value, leveraging its founders’ expertise in the market.
- Hyena Hon: A game studio that seeks to combine deep design theories with practical creativity, creating bold and unconventional gameplay mechanics, with a focus on delivering market-ready products.
- Dreaming Door Studios LLC: Indie Studio, founded in 2017, specializing in creating immersive narrative experiences, released Golden Treasure: The Great Green on Steam and Itch.
- Classy Games: A studio that seeks to rediscover the joy of playing by developing innovative games that ignite the imagination and bring back the spirit of childhood.
- Studio Phys فز: A Saudi startup that turns screen time into a kinesthetic activity through augmented reality learning challenges, to promote children’s health by linking the use of devices to physical activity.
Applications for the second cohort for Exel by Merak have closed, and Merak is preparing to open submissions for the third cohort in the coming months.
Merak Capital, through its Gaming Fund, has been actively investing in studios and platforms that align with Saudi Vision 2030’s mission of transforming the Kingdom into a regional hub for gaming and esports. The accelerator program, Exel by Merak, provides mentorship, capital, and strategic partnerships tailored to game developers and startups.
