Dubai, UAE strengthen position as global hub for technology, innovation, investment
Date
12/9/2024 2:37:37 AM
(MENAFN) Dubai and the UAE are strengthening their reputation as a global hub for technology, innovation, and investment, with growing interest in sectors such as gaming, blockchain, and venture capital. The emirate’s strategic investments and business-friendly environment continue to attract both investors and aspiring entrepreneurs, positioning it as a key destination for innovation and growth.
Over the past week, Dubai’s technology and innovation sector has witnessed significant activity, marked by major announcements in funding and expansion. Companies in areas like video game development, blockchain integration, and venture capital have drawn international attention, signaling the UAE’s role as a hotspot for cutting-edge industries and global investment opportunities.
One standout example is Playgamma, a UAE-based gaming company that recently raised USD 3 million in a seed funding round. The investment was led by The Open Platform, S16VC, FG Labs, The Games Fund, and Toon Ventures. Established in 2023 by Dmitry Kashmar, Playgamma focuses on distributing HTML5 games, offering developers tools for monetization and scaling. Its PlayGamma Bridge SDK, a monetization and analytics platform, is already used by over 1,000 developers.
The newly secured funding will enable Playgamma to further develop its platform and financial solutions, addressing the growing demand in the Middle East gaming market. This market is projected to reach USD 10.69 billion by 2029, reflecting the region's potential as a major player in the global gaming industry. The company’s efforts align with Dubai’s vision of fostering innovation and driving growth across emerging technology sectors.
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