Business

Game Publishing Startup Galactech Secures US$36k Funding From Go-Ventures

TUNISIA – Galactech, a game publishing startup located within the Megrine Business Center, has won the first edition of a challenge organised by Tunisie Telecom (Tunisia’s state-owned telecom company) in partnership with Go-Ventures,  the Tech-startup fund of Go Malta, a subsidiary of Tunisia Telecom.

The startup aggregates various entertainment services like video games, Video-on-Demand (VOD) and Media-on-Demand (MOD) through different telecom operators in the Middle East and Africa, in partnership with other startups and content creators in the region.

Read Other Related: Tunisian telecoms VAS content aggregation startup Galactech raises 6-figure investment

The challenge was intended to support Tunisian startups in their quest for international markets, especially as it concerns giving them access to the European market.

Several “labelled” Tunisian startups took part in the competition. A total of 5 Tunisian startups were, however, selected following a review of proposals by Go Ventures representatives. The startups included Kiwi Software, Galactech, Historiar, Tledger and UTIK.


Image

Click here to find out more!

Consequently, the startup will be awarded 10,000 DT (US$3.6k), offered by GO Malta and the opportunity to have its product reviewed and validated by GO Malta on a commercial level.

The opportunity for GO-Ventures to invest up to 100,000 TND (US$36k) in the startup is also included.

Digital gamer guide: 10 tips to help new online players - TechRepublic

Tunisia’s Startup Label is a label of merit granted to any company under Tunisian law that meets the criteria of labelling in terms of age, size, independence, innovation and scalability.

This Label is the keystone to access the Startup Act universe which helps to make Tunisia a country conducive to Startups at the crossroads of the Mediterranean, the MENA region and Africa).

In 2020, Galactech closed a six-figure pre-Series A investment round, thanks to the Oman Technology Fund (OMF) and other angel investors.

The funding followed Galactech signing contracts with 30 international telecom operators to expand its reaxh, and to be used to launch a series of gaming services in the MENA region. The funding was also to facilitate the startup in exploring “silk roads”, by entering different global markets, particularly in the Africa and the MENA region.

The startup also built their own platform – OMG – which allows game developers to monetise their games by publishing them on the platform, in addition to more standard platforms like the App Store and Google Play.

In the long run, Galactech hopes to also use the investment to both cultivate the local economy and the mobile gaming ecosystem as a whole and to expedite the chain of content creation through various partnerships with independent developers such as students, and thus pave their way into the market and provide them with important opportunities to enter the market.

Read Original Article Here


African Startup Shorts

Nichole Manhire

Is the productive executive for the media department at GetFundedAfrica

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button