UMX Studio Secures $4.5 Million Investment from Jetapult, Poised to Transform Saudi Gaming Landscape
In a significant development for the gaming industry in Saudi Arabia, UMX Studio has successfully raised $4.5 million from Jetapult, a global strategic investment firm affiliated with Accel Partners. This investment, executed as an all-cash transaction, marks a historic moment for UMX, which has emerged as one of the pioneering game development studios in the kingdom.
Jetapult, headquartered in India, is committed to enhancing the gaming landscape in emerging markets. The firm plans to use the capital infusion to bolster UMX’s existing portfolio, broaden its reach in international markets, and explore new game genres, ensuring the studio’s continued growth.
Ali Alharbi, the visionary founder of UMX Studio, expressed optimism about the collaboration, stating, “This investment not only signifies a milestone for UMX but also symbolizes a transformative phase for the Saudi Arabian gaming industry. Partnering with a global leader like Jetapult will accelerate our growth and equip us with advanced tools and expertise.”
Strategic Growth Plans
Jetapult aims to leverage this investment to implement its distinctive “Invest & Operate” (I&O) model, which integrates support for user acquisition, monetization strategies, and the adoption of cutting-edge analytics and AI technologies. This funding is noted as Jetapult’s inaugural investment in the MENA region, with further initiatives expected in Southeast Asia and Europe.
Founded by seasoned industry professionals Sharan Tulsiani and Yash Baid, Jetapult has a bold vision for the future of gaming in the MENA region, underscoring its commitment to empowering game studios through a scientific approach to sustainable growth. The firm has pledged a substantial $100 million over five years to achieve this goal.
UMX Studio: A Homegrown Success Story
Established in 2014, UMX Studio specializes in creating high-quality mobile games that resonate with Arabic-speaking audiences. With a portfolio boasting over 70 million downloads, the studio is recognized for its ability to produce titles that not only appeal to local gamers but also achieve top rankings on platforms like the Apple and Google Play stores.
Among its popular offerings is King of Steering, the leading racing game in the MENA region, featuring multiple modes such as multiplayer racing and stunt driving. Additionally, UMX has plans to launch DriftX, expected to release before Ramadan 2025, promising to build on its legacy of successful gaming experiences.
The studio’s commitment to culturally relevant content is exemplified in its game Climbing Sand Dune Offroad, which allows players to explore vast desert landscapes and upgrade their vehicles while engaging with friends.
MENA’s Booming Gaming Market
The investment aligns with a broader trend of explosive growth within the gaming and esports sector in the MENA region. Notably, Saudi Arabia accounts for 39% of the Middle East’s gaming revenue, making it the fastest-growing market in the region, according to Sensor Tower’s 2024 data.
As the gaming ecosystem expands, Jetapult is dedicated to enhancing UMX’s potential to foster local talent and cultural depth, aligning their strategic expertise to further establish Saudi Arabia as a hub for game development.
Tulsiani remarked, “Investing in UMX transcends financial backing; we bring a wealth of expertise and innovative technology intended to enrich gaming experiences throughout the Middle East.”
With this significant funding round, UMX Studio is set to play a crucial role in shaping the future of mobile gaming in Saudi Arabia and beyond, capitalizing on the region’s vibrant gaming community and unfulfilled demand for quality local content.
