Scalo Technologies Leads USD 3.5M Funding for Web3 Mobile Games Publisher

Dubai-based tech venture company, Scalo Technologies, has led a US$3.5 million investment round for Hexacore, a mobile game publisher specialising in hybrid mobile web3 games.

Abdumalik Mirakhmedov, Director and Co-founder of Scalo Technologies

The funding, also supported by Xsolla, Estoty, and other angel investors, will fuel the expansion of Hexacore's experienced team, known for creating games that have garnered over 350 million downloads. Notable titles include Sushi Roll, Blend It 3D and Merge Animals.

The investment, announced today, will also drive further development of Hexacore's innovative mobile games with hybrid monetization, including In-App Purchases, NFT Collectables, and rewarded ads.

Abdumalik Mirakhmedov, Director and Co-founder of Scalo Technologies, said, "Hexacore's groundbreaking approach to web3 gaming perfectly aligns with our investment philosophy."

“We firmly believe that the company has the potential to become a major player in the web3 gaming industry, based on its ability to revolutionise how gamers interact with in-game assets, benefitting from a hybrid monetization model.”

Rashit Makhat, fellow Director and Co-founder at Scalo Technologies, said, “With the new investment, Hexacore can now bring its games to the wider web3 gaming community, taking advantage of the scaling potential of traditional gaming audiences, and offering a smooth onboarding process for a new group of gamers."

Scalo Technologies is known for backing innovative and disruptive startups in the technology sector, and the investment in Hexacore underlines its commitment to advancing the web3 ecosystem.

Hexacore's products in the pipeline have great potential to scale among traditional free-to-play gaming audiences, offering a smooth onboarding experience into the world of web3.

"We leverage blockchain technology to offer gamers a new level of ownership and control over their in-game assets,” said Mikita Khazau, Co-founder and CEO of Hexacore. "Web3 technology enables individuals to own and trade gaming assets. However, the ability to achieve interoperability across multiple games lies in the hands of game developers. We are moving down this path.”

Hexacore Co-founder, Aleksandr Krivolap said, "We are delighted to receive this seed-round investment from Scalo Technologies, and other high-profile gaming and blockchain investors, which will enable us to accelerate the development and publishing of our flagship product, ‘Pocket Space, and other games that will be announced later."

“Additionally, it will help us bring our vision for web3 gaming to life, expand our talented team, and further invest in the development and marketing necessary to support growth," Hexacore’s other two Co-founders are Dzianis Krupski and Yuri Zaytsev.

Set up in Singapore in 2020, Scalo chose to base its operations in Dubai in view of the emirate’s high level of business activity, a growing economy, and strong government initiatives to attract entrepreneurs and professionals from across the globe.

Its portfolio of investments include Voctiv, a conversational AI company, Noah, a money app for saving, spending, and earning Bitcoin, and Megarender.com, an online cloud render farm.