Saudi-based mobile games studio Floaty raises $1m investment round

• Floaty Studio is a Riyadh-based mobile games developer founded in 2023.
• The investment was made through the Merak Gaming Fund.
• Merak also invested $600,000 in Khosouf Studio earlier this year.

Saudi-based developer Floaty Studio has secured $1 million from Merak Capital to accelerate development of its upcoming titles. 

Founded in 2023 and based in Riyadh, Floaty Studio develops casual mobile games aimed at global audiences, combining accessible gameplay with long-term player engagement. 

The studio is currently developing two mobile titles including Pirasea, a pirate strategy game, and Hero Squad, a sci-fi action game centred on assembling heroes to battle robotic enemies.

Merak Capital said the investment reflects its confidence in the studio's product vision and Saudi Arabia's emergence as a hub for gaming entrepreneurship.

Growing portfolio

The investment follows a series of funding rounds backed by Merak Capital through its Gaming Fund. In 2025, the firm led a $480,000 pre-seed round for game technology startup Qwacks.

Earlier this year, it invested $600,000 in UAE-based developer Khosouf Studio to support its expansion and relocation to Saudi Arabia. 

These investments sit outside Merak Capital's Exel by Merak gaming accelerator, which launched after the firm's $80 million gaming fund was established in late 2024 with backing from the National Development Fund.

Exel has invested $5.1m across 17 startups in its first cohort, with each company receiving $300,000 in equity funding. The accelerator has since become the first gaming accelerator to join the Riyadh Creative District, while its third cohort is currently underway.