Jetapult, backed by Accel, has made a significant move by acquiring a major stake in Saudi Arabia's UMX Studio, investing $4.5 million in an all-cash transaction.

This acquisition marks Jetapult's first investment in the MENA region, signaling a strategic expansion into emerging markets.

Ali Alharbi, the founder of UMX Studio, described the partnership with Jetapult as a milestone that will enhance their capabilities and accelerate growth in the Saudi gaming industry.

UMX Studio, known for its popular mobile games like 'King of Steering' and 'DriftX,' has achieved over 70 million downloads and consistently ranks highly on app stores.

Sharan Tulsiani, Co-Founder and CEO of Jetapult, emphasized that the collaboration aims to enhance local talent and gaming experiences in the Middle East.

Key areas of focus for the partnership include user acquisition, monetization strategies, and the integration of advanced tools such as analytics and artificial intelligence.

The investment aligns with Saudi Arabia's ambition to become a global gaming hub by 2030, capitalizing on the country's growing gaming market, which currently accounts for 39% of the Middle East's gaming revenue.

Experts, including Vinay Singh from Fireside Ventures, highlight the potential for exponential growth in the Saudi Arabian gaming sector driven by domestic consumption and global development.

Jetapult employs an 'Invest & Operate' model, combining strategic capital investment with operational support to foster sustainable growth for game studios.

Jetapult plans to commit $100 million over the next five years to support game studios, targeting 3-5 acquisitions annually.

Looking ahead, Jetapult is considering further acquisitions in Southeast Asia, Eastern Europe, and Latin America to broaden its investment footprint.

Barath Shankar Subramanian from Accel noted that Jetapult's innovative business model could significantly transform the global gaming landscape.