GBarena, a Cairo-based esports and tournaments platform, has raised six figures in its latest funding round. Key angel investors Ahmed Aboudoma, Kushal Shah, and the HIM Angels VC network led the Pre-Series A round.
Gbarena, a fast-growing esports and tournaments platform backed by Cairo’s AUC Vlab, was founded in 2016 with the goal of creating an online gaming community that connects gamers with tournament organizers and providing organizers with a platform where they can manage and organize their own tournaments seamlessly through fully automated processes. The complexity of Gbarena’s data analytics provides a revenue-generating opportunity by assisting brands in reaching their filtered target audiences based on user demographics and activity.
The gaming industry has observed big milestones this year raising more than $280 million 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 $205 million 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.
GBarena has also appointed Eng. Ahmed Aboudoma as the company’s new Executive Chairman as a result of the additional funding. Eng. Aboudoma will set the key functions and provide top-level leadership and direction to the board of GBarena, bringing with him 27 years of experience in the MICT industry. “It is an honour 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 developing additional distinctive services that will benefit the platform’s gamers, organizers, and clients. The new funds will be used to develop and produce new services, such as a digital store that will be combined with a unique GBarena coin currency, allowing gamers to purchase 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 with a chance to continue to expand, innovate and develop new products that meet the demands and needs of our stakeholders.”