Galactech, a Tunisian telecom VAS content aggregator offering content creators and startups the opportunity to sell their products in gaming, VOD, and utility to mobile network operators' clientele, has raised a 6-figure investment round from Oman Technology Fund (OTF) and other business angels.
Galactech's previous funding insights:
Jun 2020 - $200K, SEED, Oman Technology Fund
• Galactech operates in aggregating entertainment services ranging from video games to VOD & MOD through telecom operators in Africa and the Middle East in partnership with content creators and startups in the region.
• Since its selection for the second edition of Orange Fab Tunisia, the acceleration and support program for startups, Galactech has been able to establish itself as a pioneer in content aggregation, publishing, and distribution, in alignment with the group's vision in order to revolutionize the value-added services industry.
• The investment round will open the doors to new horizons, allowing the company to conquer little-explored "silk roads", enter new international markets while proposing innovative solutions.
Connect with and message Galatech's founders on their MAGNiTT profile.
Read the full press release below.
Four years after its launch, the Tunisian startup Galactech has just closed its round of 6-figure investment from Oman Technology Fund (OTF) and other business angels.
Specialized in the field of creative industries, Galactech operates in aggregating entertainment services ranging from video games to VOD & MOD through telecom operators in Africa and the Middle East in partnership with content creators and startups in the region.
Since its selection for the second edition of Orange Fab Tunisia, the acceleration and support program for startups, Galactech has been able to establish itself as a pioneer in content aggregation, publishing, and distribution, in alignment with the group's vision in order to revolutionize the value-added services industry. Galactech is hence positioned as a global strategic partner of the group through a global contract announced on the demo day of Orange Fab Tunisia.
The investment acquired is of paramount importance, especially after signing contracts with 30 international operators. It is expected to be disbursed in the launch of a series of premium VAS gaming services in MENA.
Moreover, the acquisition of this investment will open the doors to new horizons, allowing the young company to conquer little-explored "silk roads", enter new international markets while proposing innovative solutions, especially in the African continent and the MENA region. All of this is due to the deep sense of belonging of Galactech's crew, being a pan-African start-up, and by ricochet, it must be a major player in the sub-Saharan region which is just like its land full of unique opportunities.
In addition, the young company will be the stage on which local talent can develop and showcase their skills. This is where these young developers will, indeed, be able to unleash their true potential and have their true merit. Through its OMG portal, Galactech gives developers the chance to make more profit and monetize their games by publishing them on the portal, beyond traditional outlets such as the Play Store and App Store.
And this is where the major importance of this investment comes into play. Because it will stimulate not only the local economy and the mobile gaming ecosystem but also the entire content creation chain through partnerships with independent developers, be they students, graduates, or others, where operators give them access to the market.
Nevertheless, it is worth mentioning that Galactech was granted this fundraising among other well-known start-ups, such as SWVL and TrUKKer, to prove that the company is truly virtuous when it comes to sustainability.
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Despite the current crisis, H1 2020 has seen $659M invested in MENA-based startups, which is already 95% of total funding full-year 2019. Discover more data, including country and industry trends by purchasing our H1 2020 MENA Venture Investment Report.