Jordan-based Tamatem Games closes $11mln funding round
The investment will be used to fuel its expansion strategy across the region with initial focus on Saudi Arabia where it will hire local talent
Image used for illustrative purpose. Seed funding or seed stage funding is a very early investment which aims at helping a business grow and generating its own capital. Also referred to as seed money or seed capital, investors often get equity stake in exchange for the capital invested.
By Staff Writer, Arab News
RIYADH: Jordan-based Arab mobile game publisher Tamatem Games has successfully raised $11 million in a Series B funding round.
The investment will be used to fuel its expansion strategy across the region with initial focus on Saudi Arabia where it will hire local talent, Wamda reported.
The round was led by KRAFTON, makers of the popular battle royale game PUBG.
Venture Souq, Endeavor Catalyst and existing investors also participated in the round.
Tamatem is seeking to expand its offices in Saudi Arabia to hire local Saudi talent and gain a stronger foothold in the country that harbors 70 percent of its users.
It also plans to offer a wider selection of games in the Arab markets.
Tamatem is also aiming to expand into more countries in the region and launch a gaming academy to train and raise the level of employment in the industry.
"We are committed to the MENA region and willing to take more bets in the overall Media and Entertainment Sector, and this investment is aligned with our efforts to strengthen our commitment to the startup ecosystem," CEO and founder Hussam Hammo said.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
Get Zawya's daily newsletter for insightful and exclusive Middle East perspectives on business and finance. SUBSCRIBE NOW