Nineteen game studios from the Middle East and North Africa have finished the second cohort of Exel by Merak, an $80 million gaming accelerator that Merak Capital launched in 2024. The program offers funding, mentorship, and connections to a global network for emerging game developers. This second cohort includes studios building games across mobile, PC, console, co-op, RTS, RPG, and hybridcasual genres.
Every studio in this cohort secured $300,000 in funding and support designed to help scale their projects internationally. The accelerator reports that participating studios have already generated $1.2 million in early revenue, with their games accumulating over 2 million social impressions across platforms. This early momentum demonstrates the growing strength of MENA-based game development in the global market.
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Highlighted Studios and Their Projects
Among the graduates, Holodot Game Studio from Saudi Arabia is building Shotball, a competitive multiplayer title. PackDev Games, originally founded in Serbia and now based in Saudi Arabia, plans a yearly release cycle beginning with SOS Incident. Saer Games, also operating from Saudi Arabia, concentrates on small RPGs and aims to establish itself as a globally recognized indie studio.
Other standout participants include Nimble Fox Games, a mobile-first studio testing frequent releases every three weeks, and Entropy Minds Studios, known for the narrative-driven console title Psi Break. Blame the Game Studios, a Spanish team that moved to Saudi Arabia, is currently working on Greedy, a team-based game featuring procedural ruins and escalating difficulty. Sandouq Studios is creating Puppetter, a 2D souls-like boss rush game with monthly updates and post-launch content planned.
Inventix Games continues focusing on hybridcasual mobile games, with 13 titles already released and plans to produce 40 prototypes and 2 hit titles within three years. Evlnu GameWorks is building co-op experiences, including Office Chaos, a cooperative office simulator. Luma Play is developing Rocket Force, a chaotic shooter targeting fast-paced action audiences. Stellar Mythical, which previously released Emotional Flow, is working on Crystalone, with a long-term roadmap extending to 2031 to develop deeper narrative-driven RPG experiences.
Additional graduates include Kiddo Education, a mobile puzzle studio working to reduce math anxiety through titles like Math Punk Chronicles; Dynamic Box Studio, building a horror exploration project called Madness Afloat; PlayBack Games, concentrating on multiplayer co-op extraction shooters; Limeless Studio, planning aggressive mobile production; Taka Studio, creating a sports strategy universe starting with HexaFootball; Cakebyte, developing Punk Royale 2052 for competitive mobile audiences; Innovavera, working on a real-time strategy title Crown of Khosrow set in the Persian Empire; and SwordPlay Studio, focusing on narrative-driven games rooted in Saudi culture.
Supporting Saudi Arabia's Vision 2030
Exel by Merak's accelerator is part of Saudi Arabia's broader push under Vision 2030 to develop a competitive games sector and nurture local talent. By providing funding, mentorship, and global industry connections, the program aims to position the Kingdom as a hub for interactive entertainment and to encourage the growth of homegrown studios capable of competing internationally. Applications for the third cohort are expected to open in April 2026.
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Frequently Asked Questions (FAQs)
What is Exel by Merak?
Exel by Merak is a gaming accelerator launched by Merak Capital in 2024 that provides funding, mentorship, and global network support for emerging game studios in the MENA region.
How much funding do startups receive in the accelerator?
Each studio in the program receives $300,000 in initial funding, with opportunities for further investment as they grow.
Which types of games do Cohort 2 studios develop?
The graduates develop games across mobile, PC, console, co-op, RTS, RPG, and hybridcasual genres, including competitive multiplayer, narrative-driven, and puzzle-focused titles.
When will applications for Cohort 3 open?
Exel by Merak plans to open applications for Cohort 3 in April 2026.
How does Exel by Merak support Saudi Arabia's game industry?
The program aligns with Vision 2030 by fostering local talent, providing investment and mentorship, and positioning Saudi Arabia as a regional hub for interactive entertainment.
