FUNDING | Leading African Web3 Gaming Publisher, Carry1st, Announces Strategic Investment from Sony Innovation Fund

Carry1st, a leading game publisher and digital commerce platform from South Africa, has received a strategic investment from the Sony Innovation Fund: Africa, the venture capital branch of Sony Group Corporation.

Established in 2018 and headquartered in Cape Town, Carry1st is a mobile games publisher catering to the initial wave of African smartphone users. The platform has successfully reached millions of users throughout the region.

Collaborating with major players such as:

* Activision

• Supercell, and
• Riot Games

Carry1st has played a pivotal role in scaling games like:

• Call of Duty: Mobile, and
• Valorant

The startup has also introduced games like:

• Africa Glam (Nanobit)
• Mancala Adventures
• SpongeBob Krusty Cook-Off
• Ludo Blitz, and
• Mine Rescue

to the African gaming community.

Additionally, it has launched its own payment system and online marketplace to enhance the monetization of content.

Since its inception, Carry1st has secured over $60 million in funding, with notable investors including:

• Andreessen Horowitz (a16z)
• BITKRAFT
• Google
• Riot Games, and
• Nas

Carry1st is the first investment from the recently established Sony Innovation Fund: Africa – a $10 million fund initiated by Sony in 2023 to support and invest in African entertainment startups.

“We are thrilled to join forces with Sony Innovation Fund: Africa,” said Cordel Robbin-Coker, CEO and co-founder of Carry1st.

“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.”

The mission of the Sony Innovation Fund: Africa is to foster the growth of entertainment businesses on the continent. Focused on early-stage and seed-stage startups in the entertainment sector, including gaming, music, movies, and content distribution, the fund is set to invest in promising initiatives across Africa.

Sony has committed an initial allocation of $10 million for such investments, with the specific investment amount in Carry1st remaining undisclosed.

“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,” said Antonio Avitabile, Managing Director for EMEA at Sony Ventures Corporation.

“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.”