Funding News South Africa

Local gaming startup Skrmiish secures R13m investment

Skrmiish, a Cape Town-founded gaming startup, has secured an investment deal worth $700k (R13m) from two investors - Allan Gray E Squared Ventures (Agev) and Blockchain Founders Fund. The deal was facilitated by Merge, a platform that is designed to connect entrepreneurs and investors.
Source: Unsplash

The $700k investment deal was secured within eight months, beginning with an investment from Blockchain Founders Fund in September 2022 and then in April 2023 from Agev.

The global gaming market, which continues to grow at a double-digit rate YoY (20%), boasts over 2.7bn gamers globally and an estimated revenue of $200bn in 2022.


“From associates in my network to registering on the Merge, I have connected with some incredible people and have unlocked the investment required to build Skrmiish into a global success,” Skrmiish founder Chris Heaton. “Venture Capitalist firms connected by Merge have referred further VCs onto the Skrmiish investment opportunity, which has closed further funding.”

“We are very proud to have raised $700k out of the £1.5m contributed thus far in Skrmiish’s Seed Round. Once they conclude their funding round, it may be one of the largest seed investments of a gaming company on the continent,” Merge revealed.

Throughout the process, Merge helped boost investor sentiment by navigating bureaucratic obstacles often associated with such transactions, including regulations, legal compliance, and financial and operational documentation.

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