UMX, a Saudi Arabia-based mobile game development studio, has raised $4.5 million from Jetapult, an India-based gaming investment company backed by Accel Partners. As part of the all-cash transaction, Jetapult will acquire a significant stake in UMX.
Founded in 2014 by Ali Alharbi, UMX Studio specializes in fun car games and aims to expand its portfolio to new genres and audiences across global markets with this investment. Jetapult’s team of global gaming experts will support UMX’s growth by enhancing user acquisition, monetization, and integrating advanced analytics and AI tools under their “Invest & Operate” model.
Ali Alharbi, UMX’s founder, expressed excitement about the partnership, stating, “This significant investment from Jetapult not only marks a milestone for UMX Studio but also heralds a new era for the Saudi Arabian gaming industry. We are thrilled to partner with a globally recognized leader in the gaming investment space.”
This marks Jetapult’s first investment in the MENA region, with plans for further investments in Southeast Asia and Europe. Jetapult aims to invest $100 million in gaming studios over the next five years.
