This week, Dubai proved to be a hotbed of innovative technology and startup investments with several key funding announcements. From gametech advancements to blockchain integration and venture capital expansion, UAE-based companies are attracting global attention and significant capital to accelerate growth and innovation.
PC: Bankrate
Playgama Raises $3 Million to Revolutionize Game Distribution
UAE-based gametech startup Playgama raises $3 million in seed funding, led by The Open Platform and s16vc, as well as FJ Labs, The Games Fund, TON Ventures, and Unlimit CEO Kirill Eves. Founded in 2023 by Dmitry Kachmar, the company specializes in HTML5 games distribution and allows developers to monetize and expand efficiently.
The startup is making game distribution easier by providing a platform for monetization and analytics using its Playgama Bridge SDK, already adopted by more than 1,000 developers. The investments will help the company expedite the development of its platform and fintech solutions. Placed in a Middle Eastern gaming market expected to reach $10.69 billion by 2029, Playgama will be well-positioned to take a large share of this growing industry.
The Binary Holdings Secures $5 Million to Scale Blockchain-Based Commerce
Binary Holdings, a blockchain-based technology company valued at $16.9 billion, has received a $5 million investment from ABO Digital to further develop its decentralized platform for cross-border transactions. The Binary Network brings together Web2 and Web3 technologies through its unified digital currency, BNRY, in order to enable seamless digital payments and services across the globe.
The company will launch Millenia, a digital bank that will simplify cross-border transactions, by Q2 2025. The partnerships of Binary Holdings with seven telecom providers and various businesses make it a key enabler of global interoperability in digital commerce. Its ambitious goal of reaching 1 billion users by 2025 underscores its innovative approach to blockchain applications.
Raiven Capital Strengthens Innovation with DIFC-Based Fund
Global venture fund Raiven Capital is increasing its footprint in the UAE with the launch of a DIFC-based innovation fund focused on sectors such as finance, smart manufacturing, cybersecurity, and sustainability. As an entity authorized by the Dubai Financial Services Authority, Raiven can leverage its strategic location within the DIFC Innovation Hub for exponential growth for startups from the MEASA region.
As Raiven Capital commits to empowering founders in critical growth phases, it has announced its participation in Abu Dhabi Finance Week. The discussions will focus on emerging technologies such as AI and IoT and their impact on shaping the 5th Industrial Revolution. With its focus on operational excellence and emphasis on meaningful partnership, Raiven’s long-term strategy is directed toward driving transformative change in the UAE startup ecosystem.
The funding activity of the week reflects the growing status of the UAE as a global technology and investment hub. With substantial investments in gaming, blockchain, and venture capital, Dubai continues to attract forward-thinking investors and entrepreneurs. As these companies innovate and expand, they are poised to significantly impact the Middle East’s digital economy, setting the stage for long-term growth and success in the region.
