Building on the success of “Aurion’s Heritage of Kori-Odan”, which in 2016 became the very first video game made in Cameroon, Cameroonian startup Kiro’o Games has announced it has raised $342k as part of a fundraising campaign it launched in 2019. Buoyed by the funding, the startup has announced the launch of its very first game on PlayStore.
“We have delivered ‘Early Access’ our game (…), which allows any player to experience the life of a high official of the Imaginary Republic of Mboa in a comic fashion. It is the first time in world history that the life of the African elite has been portrayed on video games by an African studio. Beyond satire (which is respectful), we offer young people the opportunity to experience the temptations and consequences of social problems such as corruption, modern management of couples, etc.,” said founder Olivier Madiba.
Here Is What You Need To Know
- The crowdfunding campaign, initiated in 2019, saw Kiro’o Games raise around 190 million FCFA ($342k) to date from 258 shareholders, with a further pledge of 473 million FCFA ($852k) from 693 people.
“Since this fundraising, Kiro’o Games has notably delivered Aurion comics to Amazon, but nothing was yet available in the area of the smartphone market,” said the Cameroonian startup.
Investing Through Crowdfunding
This is not the first time Kiro’o Games is raising funds. The startup successfully raised $305,000 through equity crowdfunding between 2013 and 2018, and and in 2019 launched a $1 million crowdfunding target through its own crowdfunding platform called Rebuntu Equity Crowdfunding.
One of the investors in this round is Cameroonian tech entrepreneur Rebecca Enonchong. She invested an undisclosed amount through her business angel network Cameroon Angels Network.
Kiro’o Games has previously secured funding in 2015 for the development of its first title, 2D African fantasy role-playing game “Aurion: Legacy of the Kori-Odan.” It aimed for $44,600 but raised $55,500 from 1,310 backers through Kickstarter.
The Rebuntu Equity Crowdfunding platform allows investors to buy shares starting at around $500. In return, these investors receive voting rights and participation in the management of the startup. The company has not disclosed how much ownership it is giving up to investors.
Kiro’o Games raises crowdfunding Kiro’o Games raises crowdfunding
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A Look At What The Startup Does
Kiro’o Games, sometimes known as Kiro’o Studios, is a Cameroonian privately held video game, animation, development and publishing company based founded in 2003 by Madiba Olivier, and headquartered in Yaoundé.
Entitled “The Mboa Manager”, this game, explains Olivier Madiba, the founder of Kiro’o Games, marks the entry of the Cameroonian video game studio into the smartphone game market in Africa. According to the startup, barely available on PlayStore, the first smartphone game made in Cameroon is already making people happy.
“In less than a week, ‘’ Mboa Manager ‘’ has been downloaded more than 3,300 times with overwhelmingly positive reviews on the quality that amazes,” the studio said in an official statement.
Kiro’o Games says it hopes to reach at least one million customers in Africa by 2025, with an annual turnover of $20 million, according to its business plan. The business plan was made public to boost interest in its crowdfunding effort.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer