19 MENA startups graduate from the second Exel by Merak accelerator cohort

• Cohort 2 studios have already generated $1.2m in early revenue
• Exel by Merak plans to open Cohort 3 applications in April 2026
• Graduates span mobile, PC, console, co-op, RTS, RPG and hybridcasual genres

Nineteen MENA game studios have graduated from the second cohort of the Exel by Merak $80 million gaming accelerator launched by Merak Capital in 2024.

Similar to Cohort 1, each startup will receive $300,000 in funding along with access to mentorship, global networks, and the possibility for subsequent investment as they begin their next stage of growth.

During the Demo Day event earlier this week, Exel by Merak said participating studios in Cohort 2 have already produced $1.2m in early revenue, driven by more than 2m cumulative social impressions across their games.

While it has not yet set a specific date, Exel told PocketGamer.biz it plans to open applications for Cohort 3 in April 2026.

Selected startups revealed

Holodot Game Studio: A Saudi game studio specialising in design and game development. It is currently working on the competitive multiplayer title Shotball. 

PackDev Games: Originally founded in Serbia and now based in Saudi Arabia, PackDev is planning a yearly release cadence starting with SOS Incident. 

Saer Games: Saudi-based studio focused on crafting small RPGs with ambitions to become a globally recognised indie studio. 

Nimble Fox Games: A mobile-first studio running tightly controlled experiments, aiming to release new games every three weeks as it iterates rapidly on performance and player data.

Entropy Minds Studios: Developer of Psi Break, a narrative-driven team title targeting console platforms. The studio previously secured third place at a Saudi game jam and aims to lead in original IP and story-focused experiences.

Blame the Game Studios: Originally from Spain but relocated to Saudi Arabia, the studio has already shipped four titles across PC and mobile. Its current project, Greedy, features raccoon thieves, procedural ruins, and escalating difficulty built around team goals versus individual greed.

Sandouq Studios: Working on Puppetter, a 2D souls-like boss rush game with new boss fights planned monthly alongside post-launch DLC support.

Inventix Games: A fast-producing hybridcasual mobile studio with a portfolio of 13 titles and an agreement with Voodoo. Board Jam Escape serves as its flagship, with plans to develop 40 prototypes and deliver two hit titles within 36 months. 

Evlnu GameWorks: The studio is building globally focused co-op experiences and is currently working on Office Chaos, a co-op office simulator. 

Luma Play: Developing Rocket Force, a chaotic shooter built around an original IP aimed at fast-paced action fans.

Stellar Mythical: Previously released Emotional Flow and is now developing Crystalone, with a long-term roadmap extending towards Q3 2031 as it builds deeper narrative-driven RPG experiences.

Kiddo Education: A mobile-first puzzle studio blending humour and education. Its upcoming title, Math Punk Chronicles, focuses on reducing maths anxiety through exploration-led gameplay.

Dynamic Box Studio: An Azerbaijan-founded team that relocated to Saudi Arabia. With multiplayer in its DNA, the 14-person studio is developing Madness Afloat, a horror experience centred on sanity-driven exploration.

PlayBack Games: Building multiplayer titles for global audiences, including a co-op extraction shooter for PC with a strong focus on teamwork mechanics.

Limeless Studio: Targeting an aggressive production cycle of two games every two months, with plans to expand further into mobile.

Taka Studio: Relocated from Istanbul to Saudi Arabia, Taka is creating a sports strategy universe beginning with HexaFootball and expanding into HexaBasketball.

Cakebyte: An Abu Dhabi-based mobile developer currently working on Punk Royale 2052 as it grows its presence in the region’s competitive mobile market.

Innovavera: A mobile studio developing Crown of Khosrow, a real-time strategy title set during the historic Arabian conquest, beginning in the Persian empire.

SwordPlay Studio: Aiming to become Saudi Arabia’s first narrative-driven game studio, focused on culturally rooted stories and immersive experiences designed to resonate locally and compete globally.

The programme is part of Saudi Arabia’s push to develop its games sector under Vision 2030, with a focus on nurturing homegrown talent and positioning the Kingdom as a global hub for interactive entertainment.

Learn more about the MENA market at the Dubai GameExpo Summit powered by Pocket Gamer Connects on May 20th to 21st.