Riyadh — Mobile gaming studio Sheba Joy has raised $293,000 (SAR 1.1 million) in a pre-seed funding round led by Merak Capital, a Saudi venture capital firm focused on supporting innovation in the region’s technology and gaming industries.
Founded in 2021 at Dubai Silicon Oasis, Sheba Joy has since relocated its headquarters to Riyadh in alignment with Saudi Arabia’s Vision 2030, which prioritizes developing the Kingdom into a global gaming hub. The company continues to operate offices in Dubai and runs a creative game studio in India.
To date, Sheba Joy has released two mobile games and plans to launch four additional titles in 2025. CEO Ebrahim Al Hussam said the new funding will help scale operations in Riyadh, expand production capacity, and attract top-tier talent. The studio aims to deliver culturally relevant yet globally competitive titles that blend accessibility with engaging gameplay depth.
The investment underscores Merak Capital’s broader mission to accelerate growth in the MENA gaming sector, leveraging the region’s young population and high smartphone penetration. By backing developers like Sheba Joy, Merak seeks to create interactive experiences that resonate internationally while reinforcing Saudi Arabia’s emergence as a powerhouse in the gaming and esports industries.
