It’s a busy day for startup funding, with local startups raising over USD 10 mn in early-stage rounds set to boost their expansion here at home and abroad.

TRUE GAMERS-

True Gamers secures USD 5 mn seed round to fuel MENA, Europe expansion: Gaming club operator True Gamers has raised USD 5 mn in a seed round to expand its franchise network across MENA and Europe, according to a press release (pdf). The new funding brings its total investment to date in the UAE to USD 15.5 mn, supporting plans to scale its brand, tech stack, and footprint. The startup did not disclose who the participating investors were.

The gameplan: True Gamers currently operates 14 gaming cafes in the UAE, with 10 more under development across the UAE, Morocco, Saudi Arabia, Jordan, Germany, and France. The company is targeting a 10% market share in the US, European, and MENA gaming cafe markets by 2030, as it scales up through franchising and venture capital.

REMEMBER- True Gamers announced plans last year to build a USD 1 bn e-sports island in Abu Dhabi. The company was targeting USD 280-300 mn in initial funding, and as of last March was in talks with investors. The proposed site is located between Al Bandar and Al Dana in Al Raha Beach.

The big leagues: The UAE’s video gaming sector brought in revenues of over AED 1.5 bn last year, and Wynn Resorts has invested USD 514.4 mn so far in its Marjan gaming resort. Globally, the gaming market is set to reach USD 522.5 bn by 2029, the press release said, citing Statista.

ZEST EQUITY-

Zest Equity secures USD 4.3 mn in pre-Series A funding: Dubai-based Zest Equity, a fintech platform providing digital infrastructure for private market transactions, secured USD 4.3 mn in pre-Series A funding, according to a press release (pdf). Prosus Ventures led the funding round, which also saw participation from Morgan Stanley Inclusive & SustainableVentures.

Where will the money go? The funds will go towards expanding operations in the UAE and Saudi Arabia, recruiting specialized talent, developing new products, and scaling its digital infrastructure to handle larger and more complex transactions.

About Zest Equity: Founded in 2021 by Zuhair Shamma (Linkedin) and Rawan Baddour (Linkedin), Zest Equity digitizes private market transactions and is currently focusing on transactions under USD 100 mn. Its platform streamlines processes like fundraising via special-purpose vehicles, and it has digitized USD 155 mn in transactions across more than 115 executions to date. In 2023, it secured USD 3.8 mn in a seed funding round that was led by Middle East Venture Partners, and saw participation from the Dubai Future District Fund (DFDF) and Dash Ventures.

HUSHDAY-

UAE-based e-commerce platform Hushday raised USD 550k in a pre-seed funding round from undisclosed investors, Wamda reports. The company plans to use these funds to launch a new channel for luxury and premium brands in the UAE, with plans to expand to Saudi Arabia, Qatar, and Kuwait.

About Hushday: Founded this year by Jennifer Cohen Solal (LinkedIn) and Riad Djabri (LinkedIn), Hushday runs an invitation-only marketplace that sells excess inventory from luxury and premium brands. The platform allows brands to control pricing and protect their brand image while reaching younger, price-sensitive customers.

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