The recent FLOATY Studio funding round has closed with $1 million secured to expand the company’s mobile gaming operations globally. Merak Capital led the investment through its specialized gaming vehicle. According to a report by Wamda, the transaction aims to accelerate the development of casual mobile games for international audiences.
Details of the FLOATY Studio funding
The company was established in 2023 by founders Fahad Qaysi, Zeyad Almalki, and Abdullah Salah. Since its inception, the startup has focused on creating casual and hybrid-casual titles. These games combine accessible gameplay mechanics with systems designed specifically for long-term player engagement to retain users.
This FLOATY Studio funding will support the development of the company’s current gaming portfolio. Specifically, the capital will help strengthen production capabilities and establish Saudi-developed intellectual property in international markets. The team is currently working on two main titles to reach global players.
Portfolio Expansion and Game Development
The studio is actively building two flagship mobile games. The first title, Pirasea, is a pirate-themed strategy game designed for casual players. Meanwhile, the second title, Hero Squad, is a sci-fi action game focused on assembling heroes to battle robotic enemies.
These projects represent the studio’s focus on creating original content. By targeting international audiences, the company aims to expand its footprint beyond the local market. The new capital will directly accelerate the release schedules for these upcoming applications.
The Merak Gaming Fund Strategy
Merak Capital completed the investment through the Merak Gaming Fund, which is an $80 million vehicle. This fund was established to support high-potential gaming startups. Furthermore, the fund aims to strengthen the game development ecosystem within Saudi Arabia.
The fund has previously invested in other local gaming companies, including Qwacks and Khosouf Studio. These investments are part of a broader strategy to support local talent. Consequently, the fund helps build globally competitive gaming studios in the region to elevate local production standards.
Growth of the Saudi Gaming Sector
The announcement of the FLOATY Studio funding aligns with national efforts to build a competitive gaming industry. Saudi Arabia continues to increase its support for local developers who create original intellectual property. These initiatives help startups secure capital and attract professional talent.
“The investment reflects our confidence in FLOATY Studio’s product vision and in Saudi Arabia’s growing position as a regional hub for gaming entrepreneurship.”
Merak Capital
Merak Capital stated that the investment reflects its confidence in the studio’s product vision. Additionally, the transaction highlights the country’s growing position as a regional hub for gaming entrepreneurship. The sector continues to expand as dedicated investment vehicles provide necessary financial support.
