Carry1st, the African game publisher and digital commerce platform, has secured investment from Sony Innovation Fund, the venture capital arm of Sony Group Corporation.
Carry1st is the inaugural investment out of Sony Innovation Fund: Africa, which Sony established as an initiative to support the growth of entertainment businesses in Africa.
Driven by rapidly increasing technology adoption, Africa’s gaming industry has over 200 million unique players. It is set to reach a market size of over $1 billion in 2024, according to data from Newzoo and Carry1st. While there is limited formal console presence, Africa presents an incredible growth opportunity for this sector, particularly with the rise of live services.
“We are thrilled to join forces with Sony Innovation Fund: Africa,” said Cordel Robbin-Coker, CEO and Co-founder of the game publisher.
“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, combined with Sony’s gaming and entertainment expertise, create a powerful combination. Together, we hope to bring the best games in the world to players across Africa.”
“We are excited to welcome Carry1st as our first investment in Africa,” said Antonio Avitabile, Managing Director – EMEA, Sony Ventures Corporation. “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. 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.”