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Social dev Nezal secures $1 million in funding

Fri 21 Oct 2011 8:15am GMT / 4:15am EDT / 1:15am PDT
Mobile

Egyptian company targeting mobile and social games for Arabic territories

The Egyptian social and mobile developer Nezal has received a $1 million investment from venture capital firm Ideavelopers.

"Amongst the investors that approached Nezal, Ideavelopers had the strongest value proposition," said CEO Mohammad Ali.

"Ideavelopers will be able to provide Nezal with the necessary capital and advice needed to capture a significant market share of the regional online and mobile games market."

Ali has 15 years experience in the technology industry, and the Nezal team features Hany El Masry, who has worked with Disney, Dreamworks and Pizar, and Muhammed Sanad, formerly of garena.com.

The company's currently has one title, Defender Of Arabia, a Facebook game with around 90 monthly active users.

"We believe that localized social and mobile games have immense potential in the MENA region," said Shayan Habib of Ideavelopers, who, along with Ziad Mokhtar, will join the Nezal board.

"Nezal is one of the strongest companies developing original games targeting Arabic speakers."

Nezal also secured additional funds from Tamkeen Capital.

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