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Zawya
10 hours ago
- Zawya
Starvania Studios secures $1.1mln from Merak Capital and Impact46 to fuel their gaming ambitions
Starvania Studios creates fantasy-rich gaming experiences that explore bold, imaginative worlds, guided by depth, creativity, and a vision that extends beyond gameplay. Their goal is to build unique, high-quality games that resonate with players around the world. The $1.1M investment by Merak Capital and Impact46 will enhance Starvania's production capabilities, support game development for PC and console platforms, and help recruit top Saudi gaming talent. Riyadh, Saudi Arabia – Starvania Studios, the award-winning indie game development studio based in Saudi Arabia, has secured a strategic investment of $1.1 million USD from Merak Capital and Impact46. This milestone strengthens the studio's ability to create high-quality, imaginative console and PC games that reflect its distinct creative vision. Founded in 2022 by Meaad Aflah and Muslih Alzahrani, Saudi-based Starvania Studios quickly carved out a niche in the indie game development scene. The studio's breakout moment came with the release of Bahamut and the Waqwaq Tree, a richly imagined fantasy game inspired by Arabian mythology. The game launched on Steam in 2024 following the team's earlier participation in the NEOM Level Up Accelerator, garnering international recognition, winning the Devcom Indie Award for 'Graphics Galore' and earning a nomination for the TrueGaming Award for 'Best Saudi Indie Game.' Starvania's momentum continued as it won the prestigious Best Games Startup award at the MENA Games Industry Awards, further cementing its reputation as a creative force bringing original stories to global gamers. Starvania's mission is to deliver experiences that stretch beyond the horizon – richly imagined fantasy universes that resonate deeply with players and spark imagination across cultures. While the studio draws inspiration from regional heritage, its vision is not limited to Arabian themes. Starvania focuses on building original IPs with the creative depth and potential to grow beyond games into comics, animation, merchandise, and other entertainment mediums. "This investment marks a pivotal moment in our journey to build world-class fantasy games rooted in depth and creativity," said Meaad Aflah, CEO and Co-founder of Starvania Studios. "Our goal has always been to tell stories that feel both epic and deeply personal, experiences that explore unseen worlds and inspiring concepts. We're not just creating games; we're building immersive universes that can evolve beyond gameplay and connect with players across cultures. With the backing of Merak Capital and Impact46, we now have the resources to expand our development pipeline, grow our team, and push creative boundaries." The strategic investment from Merak Capital and Impact46 will play a pivotal role in accelerating Starvania Studios' growth trajectory. The funding will be directed toward the development of high-quality, immersive console and PC games that reflect the studio's broader creative vision. It will also bolster the studio's operational infrastructure and production pipelines, allowing it to scale more efficiently and sustainably. In parallel, the investment will empower Starvania to attract and retain top-tier talent from Saudi Arabia's rapidly maturing gaming ecosystem, nurturing local expertise while fostering global competitiveness. Abdulelah Alshareef, VP of Venture Capital at Merak Capital, stated: 'Starvania Studios exemplifies the kind of visionary, locally-rooted talent that Merak seeks to back. Their work demonstrates how Saudi creativity can be channeled into rich, immersive digital experiences. We are proud to support their mission to share original stories with a global audience, while reinforcing Saudi Arabia's position as a rising leader in the global gaming landscape.' Basmah Alsinaidi, Managing Partner at Impact46, added: 'Starvania is building original worlds with the kind of focus and polish that makes a studio stand out on PC and console. It's a strong signal of how far Saudi game development has come - and the ambition it can carry globally.' Saudi Arabia is rapidly positioning itself as a key player. Home to over 24 million gamers, representing approximately 67 percent of its population, the Kingdom boasts one of the most engaged gaming communities in the world. Fueled by government-backed initiatives, regulatory support, and a surge in private investment, Saudi Arabia is executing an ambitious strategy to become a global hub for game development, publishing, and esports by 2030. About Starvania Founded in 2022 by Meaad Aflah and Muslih Alzahrani, Starvania Studios is an award-winning Saudi indie game development studio creating fantasy-rich experiences that explore bold and imaginative worlds. Known for its breakout title Bahamut and the Waqwaq Tree, inspired by Arabian mythology, Starvania has earned global recognition, including the Devcom Indie Award for 'Graphics Galore,' a nomination for the TrueGaming Award for 'Best Saudi Indie Game,' and the 'Best Game Startup' award at the MENA Games Industry Awards 2024. With a mission to build original, high-quality IPs that transcend gaming into comics, animation, and merchandise, Starvania is shaping immersive universes that resonate with players worldwide. About Merak Capital Merak Capital is an investment firm focused on technology opportunities across multiple stages and industries. Merak is built on deep technological research and understanding, staying at the forefront of digital trends, and finding investment opportunities aligned with adoption cycles from different sectors, locally, regionally, and globally. The firm aims to partner with the builders of tomorrow in leading technological transformations, unlocking new markets and opportunities for growth, where innovation, fueled by the entrepreneurial spirit, shapes our future. About Impact46 Impact46 is an innovation-driven, CMA-licensed asset management firm managing over SAR 2.8 billion in alternative investments. Based in Saudi Arabia, the firm delivers institutional-grade investment products across venture capital, private credit, and capital markets. With deep regional expertise and disciplined execution, Impact46 invests alongside institutions, corporates, and family offices to create long-term value and unlock new opportunities. Today, the firm plays a growing role in enabling strategic sectors — including the launch of a SAR 150 million gaming fund and an expanding credit advisory practice for institutional and growth-stage clients.


Zawya
3 days ago
- Zawya
Exel by Merak showcases Saudi Arabia's next generation of game studios
Riyadh, Saudi Arabia – Exel by Merak, Saudi Arabia's premier gaming accelerator, hosted its first-ever Demo Day. Showcasing 17 gaming startups selected from a competitive pool of over +300global applications, the accelerator provides each with $300,000 in investment and equips them with mentorship and hands-on support from global industry leaders. The event marks a defining moment in the Kingdom's position as a global force in gaming innovation. Attended by investors, publishers, and strategic partners, the Demo Day spotlighted the entrepreneurial talent driving Saudi Arabia's rise as a global gaming hub. Participating studios unveiled original IP inspired by local stories, designed for international appeal, built to world-class standards, and backed by scalable business models. 'The Demo Day is not only an opportunity to showcase the next gaming talent, but it also signals to the world that Saudi Arabia is a global hub for game studios, not just a market for consuming games,' said Faisal Sedrani, Vice President – Innovation Platform at Merak Capital and Head of Exel. 'With the support of our partners and backing of Merak Capital's Gaming Fund, we're defining a new benchmark in startup acceleration in the region, one that's built on investment, mentorship, and scaling.' Building on the success of its first cohort, Exel has created a long-term pipeline to nurture future Saudi gaming startups, strengthening the Kingdom's gaming ecosystem. The accelerator backs studios, technologies, and publishing platforms with a holistic program—combining investment, mentorship, relocation support, and essential tools—to grow scalable gaming businesses rooted in Saudi culture and primed for global markets. Exel by Merak's efforts closely align with Saudi Arabia's Vision 2030 digital transformation strategy, which seeks to support gaming as both a creative industry and as an economic growth engine. The accelerator is powered by Merak Capital's $80 million Gaming Fund, with institutional backing from the National Development Fund (NDF) and in collaboration with the Social Development Bank (SDB). The Accelerator provides startups with structured equity investment, market readiness support, legal and relocation assistance, and access to global technology partners, including Microsoft, Huawei, and AWS. About Exel by Merak Exel by Merak is a leading innovation company that drives innovation through accelerators and digital innovation. As a subsidiary of Merak Capital, Exel aims to bring innovation to the gaming industry by launching four funded investment accelerators for the gaming sector, backed by Merak Gaming Fund, enabling early-stage game development startups to thrive and grow globally. The Gaming Accelerator program offers a comprehensive approach to supporting startups by targeting game development studios, gaming technologies, publishing platforms, and other gaming-related services. Committed to building a thriving gaming ecosystem in Saudi Arabia, Exel by Merak provides mentorship from global experts, support services from gaming industry experts, and access to an exploitable network, to enable startups to achieve sustainable growth and drive innovation and creativity to establish Saudi Arabia as a global hub of excellence in gaming. For media inquiries, please contact: Zara Siddiqui


Zawya
3 days ago
- Zawya
Fahy secures strategic investment of $1.75mln from Impact46 and Merak Capital
Fahy partners with Impact46 and Merak Capital to accelerate gaming innovation in Saudi Arabia. Investment fuels the development of high-quality, commercially successful mobile games. Fahy aims to contribute to Saudi Arabia's vision of becoming a global gaming hub. Riyadh, Saudi Arabia – 'Fahy', a rising game development studio in Saudi Arabia, has secured strategic investment of 1.75mn USD from Impact46 and Merak Capital. This milestone reflects the studio's potential, and its commitment to shaping the future of mobile gaming while contributing to Saudi Arabia's expanding gaming ecosystem. Founded in early 2023 by Hani Hashem, Owis Alsaour, and Fahad Alshibl, Fahy rapidly gained momentum upon their enrollment in NEOM's exclusive LevelUp accelerator, where they transformed from an indie team into a scalable studio. The studio further expanded its reach through a publishing partnership with Kwalee, gaining access to world-class expertise in user acquisition, monetization, and global game publishing. Fahy's strategy revolves around the hybrid casual genre, building games that blend accessibility with depth. Hani Hashem, CEO and Co-founder of Fahy, explains, 'Today's mobile gamers want more than fleeting experiences. They seek games that are easy to pick up but offer meaningful progression. Our goal is to create games that are instantly fun yet endlessly rewarding. ' Fahy's ambitious pipeline features multiple titles including RAWR, an expansive monster-collecting RPG with unique battle mechanics, deep meta elements, and an immersive storyline; Footy Traps, a fast-paced PvP football game where strategy is key to outsmarting opponents and climbing the ranks; and Heist Party, a chaotic multiplayer heist game where players can team up or betray each other in a race for the biggest loot. 'This investment fuels our mission to push the boundaries of mobile gaming, expand our production capabilities, and attract top talent to the Kingdom.' Hani continues. 'We started with a love for gaming and a big dream- to build global hit games from Saudi Arabia, for the world. While our journey is still in its early stages, the backing from Impact46 and Merak Capital is yet another testament to Saudi's growing ecosystem that is empowering us to compete on the world stage. ' Impact46, a leading Saudi investment firm, emphasized the potential of the Saudi gaming market and the role of local studios in driving growth. Basmah Al Sinaidi, Managing Partner at Impact46, stated: "Fahy is one of the unique Saudi studios that possess great potential. We are looking forward to backing the team and their visionary approach to create exceptional games and experiences." Abdulelah Alshareef, VP of Venture Capital at Merak Capital, highlighted the investment's significance in shaping Saudi Arabia's gaming industry: "The gaming industry in Saudi Arabia is evolving rapidly, and we see tremendous potential in homegrown studios like Fahy. Mobile gaming, in particular, is a high-growth sector, and Fahy Studios is uniquely positioned to create experiences that engage players worldwide. Our investment reflects our belief in their vision and our commitment to fostering the growth of Saudi Arabia's gaming sector. At Merak Capital, we aim to empower startups that combine creativity with strong business models, and Fahy Studios embodies this approach. We are excited to support their journey in building a globally competitive mobile gaming company and contributing to the Kingdom's ambition of becoming a gaming powerhouse.' Saudi Arabia is home to over 24 million gamers, representing 67% of the population, with local players outspending their global counterparts. With the gaming sector projected to multiply in size globally by 2030, investments in game development and publishing are crucial for establishing the Kingdom as a dominant force in the industry. About Fahy Studios Fahy is a Saudi-based game development studio specializing in hybrid-casual mobile games. With the goal of building global hit games from Saudi Arabia for the world, the studio aims to blend accessibility with deeper storytelling and gameplay to create games that are instantly fun yet endlessly rewarding. Fahy Studios combines in-house game design, art, and development to create innovative, engaging gaming experiences that resonate globally. About Impact46 Impact46 is an innovation-driven, CMA-licensed asset management firm managing over SAR 2.8 billion in alternative investments. Based in Saudi Arabia, the firm delivers institutional-grade investment products across venture capital, private credit, and capital markets. With deep regional expertise and disciplined execution, Impact46 invests alongside institutions, corporates, and family offices to create long-term value and unlock new opportunities. Today, the firm plays a growing role in enabling strategic sectors — including the launch of a SAR 150 million gaming fund and an expanding credit advisory practice for institutional and growth-stage clients. About Merak Capital Merak Capital is an investment firm focused on technology opportunities across multiple stages and industries. Merak is built on deep technological research and understanding, staying at the forefront of digital trends, and finding investment opportunities aligned with adoption cycles from different sectors, locally, regionally, and globally. The firm aims to partner with the builders of tomorrow in leading technological transformations, unlocking new markets and opportunities for growth, where innovation, fueled by the entrepreneurial spirit, shapes our future..