Saudi-based mobile gaming studio Sheba Joy has secured $293,000 (SAR 1.1 million) in pre-seed financing, with the round led by venture capital firm Merak Capital, which specialises in backing technology and gaming ventures across the region.
The studio was founded in 2021 at Dubai Silicon Oasis before moving its headquarters to Riyadh, in line with Saudi Arabia’s Vision 2030 strategy to position the Kingdom as a global hub for gaming and esports. While Riyadh is now its main base, Sheba Joy continues to operate offices in Dubai and maintains a creative development hub in India.
So far, the company has launched two mobile titles and has plans to release four more games in 2025. Chief Executive Ebrahim Al Hussam said: “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.”
According to the company, the fresh capital will be directed towards expanding its production capacity, attracting talent, and building commercially viable games that balance accessibility with strong gameplay design.
Merak Capital said its investment reflects its wider goal of developing the MENA gaming market, taking advantage of the region’s young demographic and widespread smartphone usage. By supporting developers such as Sheba Joy, the firm hopes to help create gaming experiences that appeal internationally while strengthening Saudi Arabia’s status in the global gaming industry.
