ZAWYA-PRESSR: Exel by Merak’s Cohort 2 awards $5.1mln to 17 startups

Riyadh, Saudi Arabia - Exel by Merak, a subsidiary of Merak Capital and Saudi Arabia’s premier innovation platform company, has concluded the Demo Day for its second gaming accelerator cohort, marking the completion of a 13-week program. The 17 startups collectively received an investment of USD 5.1 million from Merak Gaming fund through Exel Gaming Accelerator.Hosted in Riyadh, Demo Day brought together founders, investors, and industry stakeholders, with participating studios presenting their companies and showcasing the games developed during the cohort. The event highlighted the progress made by the graduating startups over the course of the program, including clearer product direction and stronger commercial readiness.Cohort 2 was delivered through hundreds of hours of hands-on support, led by an in-house team of globally experienced specialists based in Riyadh for the full duration of the program. Working closely with founders over 13 weeks, the team supported product decision-making, strengthened publishing readiness, and advanced commercial execution.The program also engaged 18 globally experienced mentors who worked end-to-end with participating studios, travelling to Riyadh to share their knowledge and experience. In parallel, the cohort benefited from input from senior practitioners across the global gaming industry, bringing international benchmarks and practical insights into product quality, production discipline, and go-to-market execution. Exel has also appointed Faisal Sedrani as Chief Executive Officer, continuing his leadership of the platform as it enters its next phase of growth and expands its mandate as a multi-sector innovation company in line with Vision 2030.Faisal Sedrani, Chief Executive Officer of Exel by Merak, said: “Exel’s objective is to support innovation in the Kingdom by enabling entrepreneurs and contributing to the development of supportive environments for innovation. Our work focuses on identifying opportunities within promising sectors and supporting their growth. We began by focusing on the gaming sector, supporting founders and studios as they build and scale game development capabilities within Saudi Arabia.”The firm also announced that Cohort 3 of the gaming accelerator is scheduled to begin in the second quarter of 2026, continuing its focus on supporting early-stage and scaling gaming startups, and addressing key gaps within the sector.The gaming accelerator was launched as part of Merak Gaming Fund (MGF), an $80 million investment fund under the Gaming and Esports Sector Financing Program, overseen by the National Development Fund (NDF) in collaboration with the Social Development Bank and the Saudi Esports Federation. Playing a key role in advancing the National Gaming and Esports Strategy and the Ignite Digital Content Program, the fund aligns with Saudi Vision 2030 to drive innovation and growth in the gaming industry. Since its launch, Exel has supported more than 100 gaming studios through its bootcamp and accelerator programs, including international teams operating in the Kingdom.About Exel by Merak:Exel is an innovation platform supporting startups through specialised programs. Focussed on digital technology, we empower entrepreneurs in Saudi Arabia and beyond with strategic support from Merak Capital and a global partner network.Our vision is to close key gaps in the regional startup ecosystem by providing founders with the mentorship, tools, and resources they need to scale globally.Send us your press releases to pressrelease.zawya@lseg.comDisclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.