Weekly News Digest #4
# of announced deals
announced deals’ size
# of closed deals
We are working on our 2023 Global Gaming Deals Activity Report, so this digest has no featured news this time. However, you can still find all last week’s deals in the “Notable Transactions” section below. Please follow us on X, LinkedIn, and Telegram to avoid missing the Report.
MERGERS & ACQUISITIONS
France-based hyper/hybrid casual publisher TapNation has acquired Turkey-based user acquisition firm UAhero for an undisclosed sum to bolster its UA capabilities. UAhero will function as a TapNation subsidiary, enhancing audience targeting, acquisition campaign optimization, and monetization.
UK-based credit asset manager and technology platform Fasanara has acquired a majority stake in US-based Pollen VC, a provider of non-dilutive working capital to the mobile gaming/app sector, for an undisclosed sum. The company will continue to operate independently within the Fasanara Group to deploy capital efficiently.
Saudi Arabia-based esports lounge operator True Gamers has raised $45m in a funding round led by Nawaf Albishri, CEO of investment firm Falak. The investment aims to expand the esports scene in Saudi Arabia by establishing over 150 esports clubs across the country and hosting international tournaments.
South Korea-based XR tactile solutions provider bHaptics has raised ~$7.5m (₩10B) in a Series C funding round led by KB Investment, Korea Development Bank, and Hana Ventures. The firm develops and manufactures haptic apparel for XR gaming. bHaptics will spend the money on further advancing the company’s haptic device development and propelling bHaptics’ goal of making haptic technology mainstream in the XR industry.
US-based mobile game developer Talofa Games has raised $6.3m in a Seed funding round led by Chamaeleon, with participation from A16Z GAMES SPEEDRUN, Basis Set Ventures, Insight Partners, and 1Up Ventures. The studio is creating mobile games for fitness. Talofa’s first title is Run Legends, a real-time co-op fitness battle with friends that promotes physical and mental wellness through gaming. The funding will fuel the elaboration of Run Legends and new titles.
UK-based web3 mobile gaming studio AOFverse has raised $3m in a funding round led by Animoca Ventures, with participation from Liquid X Ventures, Chainridge VC, Ticker Capital, Flying Falcon, and BSCN Gaming Ventures. The funding will bolster AOFverse’s presence in the web3 gaming sector and enhance the development of its flagship game, Army of Tactics, a part of the future Army of Fortune metaverse.
Cyprus-based Narwhal Accelerator, a recently established venture, has officially launched its operations. The accelerator offers up to $100k in strategic investments and an additional $100k of essential operational services for gaming and game tech companies across Europe, LATAM, and the MENA region. Narwhal has already worked with the studios like Obelisk and 1M Bits Horde.