BUSINESS

CARRY1ST SECURES SONY INNOVATION FUND'S MAIDEN INVESTMENT IN AFRICA

06/02/2024 03:26 PM

KUALA LUMPUR, Feb 6 (Bernama) -- Carry1st, Africa’s top game publisher and digital commerce platform, has announced a strategic investment by Sony Innovation Fund, the venture capital arm of Sony Group Corporation (Sony).

In a statement, Carry1st said it is the inaugural investment out of Sony Innovation Fund: Africa, which was established by Sony as an initiative to support the growth of entertainment businesses in Africa.

“The relationship will help Carry1st to drive the future of gaming in Africa. At Carry1st, we believe that the African console market is a massively underestimated opportunity.

“Our distinct regional capabilities, paired with Sony's expertise in gaming and entertainment, creates a powerful combination. Together, we hope to bring the best games in the world to players across Africa,” said its Chief Executive Officer and Co-founder, Cordel Robbin-Coker.

Meanwhile, Sony Ventures Corporation Managing Director – EMEA, Antonio Avitabile said: “We are excited to welcome Carry1st as our first investment in Africa. We believe there is tremendous untapped potential for the gaming market in Africa, which we hope to experience and contribute to through our investment in Carry1st.

According to data from Newzoo and Carry1st, Africa’s gaming industry has over 200 million unique players and is set to reach a market size of over US$1 billion in 2024, driven by rapidly increasing technology adoption. (US$1=RM4.75)

While there is limited formal console presence, Africa presents an incredible growth opportunity for this sector, particularly with the rise of live services.

-- BERNAMA


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