GBarena, the popular esports and tournaments platform from Cairo has managed to successfully raise six-figure in their latest Pre-Series A funding round. The funding round was led by key angel investors Ahmed Aboudoma, Kushal Shah, and HIM Angles VC network. This newly raised fund will be used for creating and expanding their services on a bigger scale/
GBarena was founded by Cairo’s AUC Vlab back in 2016. And ever since its foundation, GBarena has become an emerging esports and tournament platform that has been aiming at providing the creation of one of the most popular gaming communities while connecting gamers with various tournament organizers and offering organizers with a platform that can be managed and organized by them for their own tournaments. And work with it seamlessly via their fully automated process of course. The revenue-generating opportunity that GBarena provides is at its peak through the intricacy of its data analytics. And the process helps brands to reach their range of filtered target audiences based on user activities and demographics.
It’s been observed this year that the gaming industry has reached bigger milestones raising more than $280M in funds all across MENA, Pakistan, and Turkey. And this amount of unprecedented number was all from record-breaking partnerships in major gaming startups like DreamGames, Loop Games, and Panteon. It was also observed in the Middle East region of the pivotal moments with the game studio from Amman, Jawaker managing to close its $205M exit along with Rawa TV from, a Lebanese-based game streaming platform getting acquired by Medal TV from the US.
This particular investment has managed to shift another gear in the path towards post-pandemic gaming across the Middle East. With this fresh funding, GBarena has welcomed Engineer Ahmed Aboudoma as the new Executive Chairman of the company. Eng. Aboudoma, bringing with him 27 years of experience in the industry of MICT, will be setting the primary functions and providing top-level leadership and direction to the board of GBarena.
“It is an honor 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”.
As of now, the platform is working on improving its new differentiated services that will help them add value to gamers, clients, and organizers inside the platform and that’s not all. This newly raised fund will help them develop and produce new services like creating their digital store which will be integrated with special GBarena coin currency. The infrastructure will help gamers buy 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 a chance to continue to expand, innovate and develop new products that meet the demands and needs of our stakeholders.”