Jetapult Acquires Significant Stake in Saudi Arabia’s UMX Studio for $4.5 Million

Accel-supported Jetapult has taken a significant step forward in the gaming industry by purchasing a large portion of UMX Studio, one of the first game production businesses in Saudi Arabia. It is anticipated that the $4.5 million cash strategic investment will spur UMX Studio’s expansion and innovation.

Since its founding in 2014 by Mr. Ali Alharbi, UMX Studio has established a solid reputation for producing top-notch mobile games. Over 70 million downloads have been made by the company thanks to its amazing graphics and captivating gameplay. They stand out in the gaming industry thanks to their dedication to creating Arabic content that is culturally relevant.

Expanding Global Reach

Jetapult’s investment is not solely financial; it aims to enhance UMX Studio’s existing portfolio and expand its audience globally. As the gaming and e-sports sector in the MENA region experiences rapid growth, Jetapult seeks to leverage its expertise to help UMX explore new genres and reach a broader audience.

Sharan Tulsiani, Co-Founder and CEO of Jetapult, emphasized the depth of this partnership: “Jetapult’s investment in UMX goes beyond providing capital; we bring a wealth of proven gaming expertise and cutting-edge technology to this partnership.” He added that the collaboration is designed to unlock UMX’s global potential while nurturing local talent.

This investment aligns with Saudi Arabia’s ambition to become a global gaming hub by 2030. The Saudi National Gaming and Esports entity is working to boost the gaming economy, which already generated around $7.2 billion in 2023. Notably, Saudi Arabia is home to 23.5 million gaming enthusiasts, making it a critical market for growth.

“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,” Mr. Ali Alharbi said, expressing his delight for the relationship. He thinks the partnership will provide UMX access to cutting-edge resources and knowledge while also quickening the company’s growth.

Co-founders of Jetapult, Yash Baid and Sharan Tulsiani, are committed to helping game developers by using their ground-breaking “Invest & Operate” (I&O) strategy. This strategy, which aims to promote sustainable growth in emerging markets like MENA, Southeast Asia, Eastern Europe, and Latin America, combines strategic investment with practical operational help.

Jetapult’s support for UMX Studio might be the spark that takes Saudi Arabia’s gaming industry to new heights as it continues to flourish.