Sheba Joy raises $293,000 in pre-seed funding to scale operations from Saudi Arabia

• Founded in 2021, Sheba Joy has released two games and plans to launch four more this year.
• The company recently moved its HQ to Riyadh while keeping a Dubai office, aligning with Vision 2030.
• Merak Capital led the round as part of its mission to grow MENA’s gaming sector.

Mobile games studio Sheba Joy has raised 1.1 million riyals ($293,000) in a pre-seed round to support its mission of creating hit games from Saudi Arabia.

The developer said it will also use the strategic investment to scale its operations in Riyadh by developing “world-class" titles that compete globally. 

Founded in 2021, Sheba Joy recently relocated its headquarters to Riyadh while keeping a Dubai office, aligning with Saudi Arabia’s Vision 2030. The studio has already published two games and plans to launch four more this year. 

Continuous growth 

Saudi-based Merak Capital led the round as part of its efforts to boost MENA’s gaming sector while supporting the studio’s mission to build from the Kingdom. 

“The MENA games industry is growing at an unprecedented pace, but there is still a shortage of content that truly represents our region while appealing to global audiences," said Sheba Joy CEO Ebrahim Al Hussam. 

“With Merak Capital’s support, we are scaling our operations in Riyadh to deliver world-class titles that can compete internationally and contribute to Saudi Arabia’s vision of becoming a global gaming powerhouse." 

The investment is part of Exel by Merak's recent allocation of $300,000 each in 17 game startups in Saudi Arabia from over 300 applicants.