UMX, a Riyadh-based game development studio, has raised $4.5 million in an all-cash deal from Bengaluru-based gaming investment company Jetapult, backed by Accel Partners. This marks Jetapult's first foray into the Middle East and North Africa (MENA) region, as part of its broader $100 million commitment to support gaming studios in emerging markets like Southeast Asia, Eastern Europe, and Latin America over the next five years.
UMX, founded in 2014 by Ali Alharbi, is one of Saudi Arabia's pioneering game development studios, specializing in mobile games. With a portfolio of successful titles, including King of Steering, UMX has garnered over 70 million downloads and has consistently topped the Apple and Google charts in the MENA region. The company is known for its culturally resonant content, targeting Arabic users with games centered on themes like sand dune racing, car modifications, and off-road adventures.
Jetapult's investment aims to support UMX's global expansion, enhance its existing portfolio, and foster the development of games in new genres. UMX's forthcoming release, DriftX, is scheduled to launch before Ramadan 2025. The investment will also help the studio scale its user acquisition, optimize monetization strategies, and adopt advanced analytics and AI tools through Jetapult’s "Invest & Operate" model.
"This investment from Jetapult marks a milestone for UMX Studio and the Saudi Arabian gaming industry," said UMX founder Ali Alharbi. "This collaboration will accelerate our expansion and empower us with advanced tools and expertise."
Jetapult co-founder and CEO Sharan Tulsiani highlighted the strategic importance of the partnership, stating, "Jetapult's investment in UMX goes beyond capital; we bring proven gaming expertise and cutting-edge technology to enhance gaming experiences within the Middle East's burgeoning development ecosystem."
Saudi Arabia's gaming market has experienced exponential growth, contributing 39% of the region's gaming revenue in 2024, according to Sensor Tower. UMX’s expansion aligns with the country’s growing role as a hub for esports and casual gaming, addressing the need for locally-developed games that resonate with regional audiences.
This investment is expected to further strengthen UMX's position in the MENA market and lay the groundwork for global success as it continues to innovate in the gaming space.
