Get All Access for $5/mo

Jetapult Acquires USD 4.5 Mn Stake in Saudi-based UMX Studio to Fuel Global Expansion This acquisition marks Jetapult's first foray into the Middle East and North Africa (MENA) region, underscoring its intention to broaden its investment footprint. The company also has plans for further investments in key markets, including Southeast Asia and Europe.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

[L-R] Jetapult co-founders Sharan Tulsiani & Yash Baid with UMX Studio CEO Ali Alharbi (middle)

Bengaluru-based gaming investment company Jetapult has acquired a significant stake in Saudi Arabian game developer UMX Studio in an all-cash deal worth USD 4.5 million.

The Accel-backed company aims to support UMX's expansion into global markets, enhance its gaming portfolio, and fund new game development across various genres.

This acquisition marks Jetapult's first foray into the Middle East and North Africa (MENA) region, underscoring its intention to broaden its investment footprint. The company also has plans for further investments in key markets, including Southeast Asia and Europe.

"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," said Sharan Tulsiani, Co-founder and CEO of Jetapult.

Jetapult, co-founded by Sharan Tulsiani and Yash Baid, is supported by prominent investors such as Accel Partners, Fireside, and JetSynthesys. The firm has committed USD 100 million to invest in game studios across Southeast Asia, MENA, Eastern Europe, and Latin America over the next five years.

The deal comes amid rapid growth in the gaming and esports sector in the MENA region, with Saudi Arabia contributing to 39% of the Middle East's gaming revenue, according to a 2024 Sensor Tower report.

Ali Alharbi, Founder of UMX Studio, shared his excitement about the partnership, saying, "This investment from Jetapult marks a milestone for UMX Studio and the Saudi Arabian gaming industry. This collaboration will accelerate our expansion and empower us with advanced tools and expertise."

Founded in 2014, UMX Studio develops mobile games for all age groups. The studio's titles have been downloaded over 70 million times, reflecting steady year-over-year growth in engagement and popularity.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.

Science & Technology

Use This Framework to Successfully Integrate AI Into Your Business Operations

Here's how to ensure both innovation and compliance when using AI in your organization.

Growing a Business

5 Effective Strategies to Boost Your Business's Online Presence

Boosting your online presence in 2025 is the key to success for businesses looking to grow. Working on your branding and reputation management is important to drive more sales and improve conversion.