Sheba Joy, a mobile gaming studio now headquartered in Riyadh, has raised $293,000 in a pre-seed funding round led by Saudi venture capital firm Merak Capital.
Initially founded in Dubai in 2021, Sheba Joy strategically relocated its headquarters to Riyadh to align with Saudi Arabia’s Vision 2030, which aims to position the Kingdom as a global hub for gaming and digital entertainment. The company continues to operate offices in Dubai and runs a creative game development studio in India.
To date, Sheba Joy has released two titles and is gearing up to launch four more games in 2025.
“With Merak Capital’s backing, we’re scaling our Riyadh operations to produce world-class titles that resonate globally and contribute meaningfully to Saudi Arabia’s emergence as a gaming powerhouse,” said Ebrahim Al Hussam, CEO of Sheba Joy.
The new capital will be used to expand production capabilities, recruit top-tier talent, and develop culturally rich, commercially viable games that blend accessibility with immersive gameplay.
Merak Capital’s investment underscores its commitment to nurturing the MENA region’s gaming ecosystem—driven by one of the world’s youngest demographics and widespread smartphone adoption. By supporting studios like Sheba Joy, Merak aims to elevate the region’s presence in global interactive entertainment while delivering compelling experiences to players worldwide.
