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The Cairo-based esports and tournaments platform GBarena has successfully raised six figures in its latest funding round. The Pre-Series A round was led by key angel investors Ahmed Aboudoma, Kushal Shah, and HIM Angles VC network.
Founded in 2016 backed by Cairo's AUC Vlab, the fast-growing esports and tournaments platform Gbarena set forth to create an online gaming community connecting gamers with tournaments organizers and providing organizers with a platform where they can manage and organize their own tournaments seamless through fully automated processes. Gbarena’s revenue-generating opportunity lies in the intricacy of its data analytics, helping brands reach their filtered target audiences based on user demographics and activity.
The gaming industry has observed big milestones this year raising more than $280M in funds across MENA, Turkey, and Pakistan over 2021. This unprecedented number was driven by record-breaking deals in major in Turkey-based gaming startups like DreamGames, Loop Games, and Panteon. The Middle East region also observed pivotal moments this year with Amman-based game studio Jawaker closing its $205M exit, and Lebanese game streaming platform Rawa.TV getting acquired by US-based Medal.TV. This latest investment adds yet shifts another gear in the drive towards post-pandemic gaming across the Middle East.
With this new funding, GBarena has also welcomed Eng. Ahmed Aboudoma as the new Executive Chairman of the company. Eng. Aboudoma, bringing with him 27 years of experience in the industry of MICT, will be setting the primary functions and providing top-level leadership and direction to the board of GBarena. “It is an honor to have Eng. Ahmed Aboudoma is part of GBarena’s family as our new Executive Chairman'' said Samer Wagdy, CEO. “We are looking forward to accomplishing more with him, as well as learning from his experience”.
The company is currently working on developing new differentiated services that will add value to the gamers, organizers, and clients on the platform. The new funds will allow for the development and production of new services such as the creation of their digital store integrated with a special GBarena coin currency that will allow gamers to buy in-game items directly from the platform. In light of this platform-boosting investment CEO Samer Wagdy concluded with high hopes for Gbarena’s role in the industry “The growing esports industry continues to evolve and thus presents exciting opportunities to create value for rising startups such as GBarena. This round of investment can provide us a chance to continue to expand, innovate and develop new products that meet the demands and needs of our stakeholders.”
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