SOUTH AFRICA – Sony, the Japanese consumer electronics and gaming company has invested an undisclosed sum into Carry1st, a video game studio based in Cape Town, South Africa, via its Sony Innovation Fund venture arm.
This significant partnership marks the inaugural investment from US$10 million Sony Innovation Fund: Africa, established by Sony late last year as a commitment to fostering the growth of entertainment businesses across the continent.
Founded in 2018 and based in Cape Town, Carry1st is a mobile games publisher serving the first generation of African smartphone users, which has so far reached millions of users across the region.
Carry1st specializes in the development, licensing, and publication of games, employing an effective monetization strategy through Pay1st, its proprietary alternative payments platform, and an online marketplace for digital gaming goods.
In collaboration with established brands such as Activision, Supercell, and Riot Games, Carry1st has played a key role in scaling popular games like Call of Duty: Mobile and Valorant.
Additionally, the company has successfully launched a diverse portfolio of games tailored for the African gaming community, including titles like Africa Glam (Nanobit), Mancala Adventures, SpongeBob Krusty Cook-Off, Ludo Blitz, and Mine Rescue.
“We are thrilled to join forces with Sony Innovation Fund: Africa. The relationship will help Carry1st drive the future of gaming in Africa. At Carry1st, we believe that the African console market is a massively underestimated opportunity,” Cordel Robbin-Coker, CEO, and Co-founder of Carry1st stated.
“Our distinct regional capabilities, paired with Sony’s expertise in gaming and entertainment, create a powerful combination. Together, we hope to bring the best games in the world to players across Africa.”
Carry1st has raised over US$60 million in funding and counts Andreessen Horowitz (a16z), BITKRAFT, Google, Riot Games, and Nas as investors. The Sony Innovation Fund: Africa aims to support the growth of entertainment businesses in Africa.
It invests in early-stage and seed-stage startups in the entertainment industry in Africa, including startups in the gaming, music, movie and content distribution sectors.
“We are excited to welcome Carry1st as our first investment in Africa,” said Antonio Avitabile, managing director for EMEA at Sony Ventures Corporation.
“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.
“We look forward to working closely with Carry1st’s world-class management team to support the company’s growth and explore potential business opportunities with Sony Group companies.”
Carry1st is aiming to launch its debut first-party title in 2024 and Robbin-Coker is confident the studio will hit that target.
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