UAE – Mubasher: Dubai-based game tech startup Playgama has secured $3 million in a funding round led by The Open Platform and s16vc, according to a press release.
The transaction also witnessed the participation of FJ Labs, The Games Fund, TON Ventures, and Kirill Eves, CEO and Founder of Unlimit.
The funding will enable Playgama to further improve its platform for developers, expand its toolkit, and introduce advanced analytics and fintech solutions.
Founded in 2023, the startup is an HTML5 games portal that provides games for all ages, securing a simple and efficient route to tap into all available platforms, languages, and markets.
Playgama is creating a full-scale Platform-as-a-Service (PaaS) ecosystem to provide game developers with all the tools they need to navigate the fragmented web market. This will enhance their reach and ROI without facing the hassle of tackling distribution challenges.
Dmitry Kachmar, Founder of Playgama, commented: “Currently, Playgama’s distribution network has the potential to reach over 200 million monthly active players—and this is just the beginning. With this funding, we will accelerate further improvement of Playgama’s platform for developers, expand our toolkit, and introduce advanced analytics and fintech solutions.”
The Middle East is emerging as a dynamic hub for the gaming industry amid an expanding development ecosystem and increasing revenue streams.
As of November 2024, the region's gaming market was estimated to reach $6.34 billion, with projections indicating growth to $10.69 billion by 2029.
On the global scale, the HTML5 gaming market was valued at $23 billion in 2021 and it is projected to grow to $32 billion by 2030.
