Falafel Games Raises US$ 2.6M From Lebanon Based Investors
This injection will be used to support Falafel Games’ upcoming launches and market expansion. Having launched 4 midcore games in the last 5 years, it is launching 3 new titles just this year.
Created in 2010, Falafel Games is a global company, which focuses on the MENA market as mobile developers and publishers. This year, CEO Vince Ghossoub opened a local Lebanese branch in the heart of Beirut.
“Having been initially in China, we used to expatriate Arab talents to China”, says CEO Vincent Ghossoub. “We have now reached the tipping point where it makes more sense to have a full fledge Middle East presence and initiate a knowledge transfer”.
Beirut is a good choice given the availability of talent and capital, and founders being from Lebanon and Syria. The company will also be expanding its Abu Dhabi presence.
Since 2011, MEVP has been investing in Falafel Games. In addition, MBC Ventures invested in 2012 as well in gaming development houses and Falafel Games was part of that list. According to Vince, the funding was used to improve Knights of Glory and finalizing their second MMO. iSME Holdings, a co-investment initiative by the World Bank, is a newcomer in Falafel Games’ rich roster of shareholders that also includes TwoFour54 and MBC Ventures.
This renewed confidence comes on the heels of impressive results from Falafel Games, strengthening its position in the mobile games space, increasing its penetration in the MENA, and polishing its most impressive games pipeline to date. For example, Anime Action was their most recent effort. It is a defense game tailored for the Arab digital market and several factors make Action Anime a risk to publish. More on that here.
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