Cryptyd Inc., Egypt’s Gaming Platform, Receives New Funding to Take its Flagship Product, Baloot Quest to the GCC
Cryptyd Inc., an Egyptian-based gaming platform, has announced a new round of undisclosed funding from existing and new investors. The proceeds of the new round will be used to support marketing costs for the company’s flagship product, Baloot Quest, which targets the GCC markets. Baloot is a multiplayer synchronous game that requires a high level of skill and is one of the most popular games in Saudi Arabia and other GCC countries. While there are other Baloot games on the market, Baloot Quest emphasizes native artwork with a focus on gamifying the user experience and introducing cultural elements to attract users and foster a social and competitive gaming experience.
This comes three years after the startup last announced an undisclosed amount in Seed funding from Alex Angels in July 2019.
The investment proceeds will also be used for the pre-production phases of the company’s new popular IP secured for its next game targeting the global markets.
Ahmed Alaa, CEO and founder of Cryptyd Inc., who founded the gaming platform in 2015, commented on the funding round, saying, “We are proud to have the commitment and backing of our investors and feel that we are very well positioned as one of the few MENA-based game development studios that have made the transition from loving games to mastering the game development process.”
Cryptyd Inc. is a Delaware C Corp headquartered in Massachusetts, USA, with a wholly owned subsidiary, Cryptyd SA, based in Alexandria, Egypt, serving as the company’s operations and development center.
Cryptyd is one of the leading games development companies in MENA, addressing both regional and global markets, after being incubated by the AUC V-lab and then the Google indie game accelerator program in Singapore.