Observed Signal · Jul 17, 2026 · Funding · Source: PocketGamer.biz · Impact: 2/5 · Sentiment: Positive
Saudi Studio Floaty Raises $1M from Merak Capital
Riyadh-based mobile games developer Floaty Studio, founded in 2023, has secured $1 million from Merak Capital (via the Merak Gaming Fund) to accelerate development of upcoming casual mobile titles. The studio is working on two games, Pirasea and Hero Squad. The investment is part of a wider set of Merak-backed gaming investments in the MENA region, which include earlier rounds for Khosouf Studio and Qwacks, and activity via the Exel by Merak accelerator backed by the National Development Fund.
Modest early-stage funding that signals continued VC interest in MENA gaming and incremental growth of mobile game studios — relevant for future in-app inventory and regional ecosystem development but not industry-shifting.
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Key Takeaways & Evidence Grounding
- Floaty Studio is a Riyadh-based mobile games developer founded in 2023.
- Floaty Studio secured $1,000,000 in investment from Merak Capital via the Merak Gaming Fund.
- Floaty Studio is developing two mobile titles: Pirasea (a pirate strategy game) and Hero Squad (a sci-fi action game).
- Merak Capital previously invested $600,000 in UAE-based developer Khosouf Studio and led a $480,000 pre-seed round for game technology startup Qwacks.
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Riyadh's Floaty Raises $1M, Focuses on Hero Squad
Floaty, a Riyadh-headquartered game studio of around 10 people, closed its first investment round of $1 million from Merak Capital. The studio combines local Saudi talent with remote team members and says its priority through the rest of 2026 is the mobile game Hero Squad. Founder Abdullah Salah framed Floaty’s mission as building a Saudi studio with global ambitions, and cited Saudi initiatives such as Vision 2030 as accelerating the region’s games industry. The funding is intended to strengthen the team, support long-term growth, and lay foundations for additional titles after Hero Squad ships.
Saudi Studio Majestic Mind Games Raises $1.45M
Saudi Arabia-based developer Majestic Mind Games has raised $1.45 million in a funding round co-led by Merak Capital and Impact 46. The studio develops PC games with plans to expand select releases to console and mobile; its debut title, action roguelite Tri Survive, launched on Steam in September 2025. According to the company website, Majestic Mind Games is supported by NEOM. Co-founder and CEO Majed Anbar commented on the milestone and thanked investors, partners and supporters.
Ash Games raises $1.5M seed for Saudi-inspired games
Saudi-based Ash Games Studio has raised $1.5 million in a seed round co-led by Merak Capital (via the Merak Gaming Fund) and Impact46. Founded in 2022 by Anas Bakhsh, Yaser Alahmadi, and Saud Bakolka, the studio makes action-adventure games for PC and console inspired by Saudi stories, history, and traditions. Ash Games is known for Azooma Escape, a comedic stealth adventure released in August 2025, and is exploring a mobile adaptation if controls can be preserved. The studio also released the first trailer for its second title, Nomad: The Legend of Zarqa, a top-down action roguelite based on ancient Arabian folklore featuring a protagonist whose arrows can be guided mid-flight.
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