UMX Secures $4.5M Investment to Expand Global Reach and Game Portfolio

Left to right: Sharan Tulsiani of Jetapult, Ali Aharbi of UMX, Yash Baid of Jetapult

Saudi Arabian game studio UMX has secured $4.5 million in funding from Jetapult, a strategic investment firm backed by Accel Partners. The investment, a cash-only deal, will not only give Jetapult equity in UMX but also provide capital to expand the studio's existing portfolio and enter new gaming genres. The funds will also be used to broaden UMX’s audience on a global scale.

UMX founder Ali Alharbi expressed excitement over the partnership, stating that this investment signals a major milestone for both the studio and the Saudi gaming industry. He believes Jetapult’s expertise will help accelerate UMX’s growth and provide the necessary tools for expansion.

This marks Jetapult's first investment in the MENA region, with future investments planned for Southeast Asia and Europe. Founded by former Google Play Games executive Sharan Tulsiani and ex-3one4 Capital principal Yash Baid, Jetapult operates with an "Invest & Operate" model, focusing on enhancing user acquisition, scaling monetization, and adopting advanced analytics and AI tools. The firm aims to invest $100 million over the next five years in game studios across MENA, Southeast Asia, Eastern Europe, and Latin America.

Source: Dean Takahashi / VentureBeat