Carry1st, a mobile game firm based in South Africa, has raised a $20 million Series A extension round.
Andreessen Horowitz (a16z) led the round, which also included Avenir and Google, as well as a number of significant angel investors, including Grammy winner and famed crypto investor Nas, as well as the founders of Chipper Cash, Sky Mavis, and Yield Guild Games. Riot Games, Konvoy Ventures, Raine Ventures, and TTV Capital are among the investors who backed Carry1st in its May 2021 Series A round.
Carry1st, based in Cape Town, is a mobile games publisher that caters to the first generation of African smartphone users, with millions of users throughout the continent.
Carry1st is a full-stack publishing company that helps its partners with user acquisition, live operations, community management, and revenue. Through its embedded payments system and online marketplace for virtual products, the company improves monetization in the region by allowing underbanked clients to pay for content in their preferred method.
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“We’re pleased to join with this world-class group of investors who provide expertise across gaming, fintech, and web3 in addition to capital,” said Cordel Robbin-Coker, co-founder and CEO of Carry1st.
Andreessen Horowitz general partner David Haber expressed his joy at the firm’s first investment in a company based in Africa, Carry1st.
“We believe the company has a huge opportunity to replicate its extraordinary success in areas like India, China, and Southeast Asia.” “We are ecstatic to be partnering with Carry1st founders Cordel, Lucy, Tino, and the Carry1st team on their mission to develop Africa’s Garena,” Haber stated.
Carry1st will use the additional funds to expand its content offering, build its product, engineering, and growth teams, and recruit tens of millions of new users, thanks to a 96 percent monthly revenue growth. It’s also branching out into game co-development, collaborating on creative concepts with leading game studios, and building the infrastructure to support play-to-earn gaming.
