Egyptian mobile game development platform, ‘Cryptyd’ has closed an undisclosed Pre-Series A funding from Cairo Angels and Alexandria Angels. The platform was founded by Ahmed Alaa and Amera Ahmed who closed a stage funding round in 2015.
Cryptyd has developed five mobile games and is working on two that will be launched in a few months. Cryptyd-developed games are used largely by the MENA-based audience and also available for users across the world. The company is looking to use the new fund for product development, marketing, and expansion into new markets.
See also: Kenya-based Startup, Lynk Secures Series A funding
Ahmed Alaa CEO of Cryptyd, said they are excited to secure their second investment from Cairo Angels and Alexandria Angels. He said Cairo Angels’ previous seed investment has been vital for launching their business. They are delighted to have Alex Angels backing once more and this new funding will reinforce their position in the MENA mobile gaming landscape.
A statement from Cairo Angels read; ‘The game development industry is becoming less of a niche arena, and is catering to a larger audience due to high smartphone penetration within the region.’ The statement revealed that the gaming industry is increasing overall industry revenue. They confirmed their confidence in the Cryptyd team for the ability to develop innovative games for MENA. Cryptyd has displayed large development over the past three years and is assured that this development won’t stop anytime soon.
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