Saudi’s Merak Capital has launched an $81.5-million gaming fund and gaming accelerator, while Tokyo-headquartered fresh food supply-chain firm Secai Marche has raised an additional $1.6 million in its Series A funding round.
Merak Capital launches $82m gaming fund
Merak Capital, an investment firm focused on technology opportunities across Saudi Arabia and the MENA region, has launched a 306-million-Saudi-riyal ($81.5 million) gaming fund and gaming accelerator, according to an announcement.
The initiative called Exel by Merak will help early-stage startups within the gaming ecosystem scale and thrive on a global level. By targeting game development studios, gaming technologies, publishing platforms, and other innovative services related to gaming, the accelerator offers a holistic approach to support emerging businesses.
The accelerator combines equity investment, mentorship, legal and relocation assistance, and access to crucial tools and resources. This comprehensive support aims to position startups for success in the international market while establishing Saudi Arabia as a premier global hub for gaming innovation.
Merak aims to invest in 15-20 gaming startups in the first batch of the accelerator with a focus on both local and international opportunities relocating to the Kingdom.
Both Saudi-based and relocated international startups ready to take their gaming business to the next level and get funding are invited to apply to the accelerator.
Saudi Arabia is home to over 24 million gamers, representing roughly 67% of the population, reflecting the immense potential of the gaming market in the Kingdom, according to the announcement.
Secai Marche adds $1.6m to Series A round
Tokyo-headquartered fresh food supply-chain firm Secai Marche has raised another $1.6 million in its ongoing Series A funding round, according to a report by e27.
The new round includes equity financing from Mitsui Sumitomo Insurance Venture Capital (MSIVC) and debt financing from The Shizuoka Bank and The Hokkoku Bank.
The move comes after the company raised 300 million yen ($2.1 million) in a funding round in August this year, which brought its Series A round to 510 million yen ($3.6 million).
Investors in the new round include Beyond Next Ventures Inc., Spiral Ventures Asia Fund I, L.P., Mitsubishi UFJ Capital Co.,Ltd Investment Department, Future Food Fund, TSUNEISHI CORPORATION CO., LTD., Fukuoka Sonoriku Co., Ltd., Toru Yamamoto (CEO of Foodison Co., Ltd.), and others.
With this new funding round, Secai Marche aims to capitalise on the rapid growth of the e-commerce and food and beverage (F&B) sectors in Southeast Asia.
The company plans to expand its fulfillment centres and leverage AI technology to enhance demand forecast accuracy. Furthermore, it intends to automate and optimise last-mile deliveries while also focusing on system development and marketing initiatives.
Founded in 2019 by Ami Sugiyama and Shusaku Hayakawa, Secai Marche provides a platform enabling F&B businesses and retailers to purchase high-quality products directly from farmers and fishermen at competitive prices.
