Egyptian mobile game development startup Cryptyd has secured funding from Cairo Angels as it prepares to launch two more games in the next few months.
Established in 2016, Alexandria-based mobile gaming platform Cryptyd has developed five games to date, and has now raised a second, pre-Series A funding round, with new investors affiliated with Cairo Angels and Alexandria Angels.
The startup will use to funding to further expand its product development and target more markets. Funds will be used to enhance marketing and overall operations to grow throughout the MENA region.
“This investment will reinforce our position in the MENA mobile gaming landscape, and will accelerate our ability to improve our product and overall user experience. This investment will assist in the launch of our latest games,” said Ahmed Alaa, chief executive officer (CEO) of Cryptyd.
Zeina Mandour, general manager at Cairo Angels, said the organisation was “ecstatic” to have closed this investment round and to have co-invested in this opportunity with partners Alexandria Angels.
“Cryptyd has displayed large development over the past three years, and we’re assured that this development won’t stop anytime soon,” Mandour said. “On another note, we would like to thank Alex Angels for playing an active role in this deal, as this marks our second investment with them. We look forward to closing more investments with them in the future.”