Fahy Studios Raises $1.75M After Graduating from Level Up Accelerator Cohort 1

Fahy Studios, a graduate of Level Up Accelerator Cohort 1, has raised $1.75M to develop hybrid-casual mobile games in partnership with global publisher Kwalee.

Fahy Gaming Studio

Riyadh, Saudi Arabia — August 2025

Fahy Studios, a rising Saudi mobile game developer and proud graduate of the Level Up Accelerator Cohort 1, has successfully raised $1.75 million in funding to scale its game development efforts. The round was led by Impact46 and Merak Capital, two leading venture capital firms in the region.

Founded in 2023 by Hani Hashem, Owis Alsaour, and Fahad Alshibl, Fahy Studios joined the NEOM Level Up program as an indie team and quickly transformed into a structured studio with ambitious global goals. The accelerator provided early mentorship, exposure, and market readiness, paving the way for this latest milestone.

Following their graduation, Fahy Studios secured a publishing partnership with Kwalee, a global leader in mobile game publishing, gaining expertise in player acquisition, monetization, and international distribution.

The studio is currently developing three hybrid-casual titles:

  • RAWR – A monster-collecting RPG that blends combat mechanics, strategy, and narrative-driven gameplay.
  • Footy Traps – A PvP football strategy game focused on tactical gameplay and competitive ranking.
  • Heist Party – A multiplayer heist-themed experience where players collaborate or compete for rewards.

With Saudi Arabia home to over 24 million gamers—two-thirds of the population—the gaming ecosystem offers strong growth potential. Fahy Studios is positioning itself at the forefront of this transformation, aiming to deliver globally competitive titles made in Saudi Arabia.

Speaking about the milestone, CEO Hani Hashem emphasized: “Mobile gamers today want quick-to-start yet deeply rewarding experiences. This funding will allow us to expand our team, accelerate development, and bring world-class games to players around the globe.”

The $1.75M funding will be used to expand production capacity, attract talent, and strengthen Fahy’s presence in both regional and international markets.

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