Yalla Esports has secured a seed funding round from a group of strategic investors, led by angel investor Kushal Shah.
Finnish-born and Dubai-based esports trailblazer Klaus Kajetski founded Yalla Esports in 2016, having been heavily involved in building the regional ecosystem.
He has grown Yalla Esports to a globally recognised team with players and staff from the UAE, Saudi Arabia, Egypt and Tunisia having success in international and regional esports tournaments.
Yalla Esports said it will use the funding to search and develop the best talent in the region, to build new facilities and to help with travel costs to compete on a global scale, as well as for expansion across the MENA region.
The start-up aims to nurture regional talent by championing gaming culture and building an environment for aspiring professional gamers to flourish and make esports a viable career.
Yalla Esports added that it aims to add key people on the management side to support the rapid growth.
According to research undertaken by NewZoo, worldwide esports revenues will hit $1.1 billion in 2019 and the total esports audience will reach 453.8 million viewers this year.
Kajetski said: “We have always strived to be professional and set an example for other esports organizations in the region, and this investment is the natural next step towards fulfilling that ambition.
"We are now better-positioned to enable amazing esports opportunities for dedicated people, as well as supporting even more aspiring esports athletes to fulfill their dream of a professional career.”
Shah added: “We are confident that Yalla Esports is in a prime position to take regional esports live entertainment to new heights. We are also highly confident that the professionals (players and streamers) being developed by the team will become highly relevant influencers who will be sought after by brands to reach a younger audience.”For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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