Carry1st raises $20mn funding to scale across Africa

Carry1st, a mobile game-maker, has recently secured a hefty $20 million in Series A funding to expand its interactive content offerings across Africa. The company's CEO, Cordel Robbin-Coker, discussed the latest fundraise and the promising future of the mobile gaming industry in the region in an exclusive interview with CNBC Africa. Since their previous funding round in May, where they raised $6 million, Carry1st has been on a rapid growth trajectory. The company successfully launched their first third-party games, such as Mind Rescue and a SpongeBob-themed game, both of which have been performing exceptionally well in the market. Alongside game development, Carry1st introduced an online marketplace for payments and digital commerce in May. These dual expansion strategies have been driving significant growth for the company, setting the stage for their latest funding round. The $20 million investment was led by renowned venture capital firm Andreessen Horowitz, marking their first venture into Africa. Google, through its Africa investment fund, and Avenir, a key player in the Flutterwave $170 million funding round, also contributed to the investment. Existing investors from Carry1st's previous funding round have reaffirmed their confidence in the company by reinvesting in this latest round. The influx of new capital is expected to fuel Carry1st's growth agenda significantly. The company plans to allocate the funds towards enhancing content offerings on its platform by acquiring and developing more high-quality games tailored for the African market. Additionally, the capital will support the expansion of Carry1st's team, which nearly doubled in size last year, with a focus on bolstering product development, engineering, and overall growth initiatives. User acquisition is another key area where the company aims to deploy the raised funds, with plans to onboard 10 to 20 million new users across their gaming and online commerce platforms. Carry1st's approach to talent acquisition in the gaming industry has been innovative and fruitful. The company transitioned to a fully remote work model in 2020, allowing them to tap into a diverse pool of global talent regardless of geographical boundaries. By recruiting professionals from established gaming companies in Europe, Carry1st has significantly enhanced its free-to-play gaming expertise. The company also actively scouts for emerging talent across Africa, fostering a collaborative environment that combines international proficiency with local market insights. The mobile gaming space in Africa is poised for remarkable growth, with projections indicating a substantial surge in both the number of gamers and revenue over the next decade. A recent study conducted in collaboration with Mewzu forecasts a 275% increase in mobile gamers and a sevenfold revenue growth by 2024. The proliferation of smartphones, improving connectivity, and heightened focus from companies like Carry1st are key drivers behind this anticipated growth. Notably, addressing payment challenges for in-game purchases has been crucial for Carry1st's expansion strategy. The company's partnerships with global payment giants like PayPal and local players such as Chipper have facilitated seamless transactions on their platform, increasing accessibility for users and driving adoption rates. Looking ahead, Carry1st is gearing up to introduce more Africa-themed content in its gaming portfolio. The company has a locally-inspired game titled Gabetta in the final stages of soft launch, with plans for a global release later this year. Additionally, Carry1st operates a game developer incubator in Cape Town, nurturing local talent and fostering innovative game development projects. The future looks bright for Carry1st as they continue to elevate the mobile gaming experience in Africa while championing diversity, creativity, and inclusivity in the industry.