Scalo Technologies Leads A $3.5M Funding Round For Hexacore

Hexacore, a mobile gaming publisher dealing in hybrid mobile Web3 games, has raised $3.5 million in a funding round. This funding round was led by Scalo Technologies, which is a tech venture firm that is based in Dubai. The other investors that participated in this funding round include Estoty, Xsolla, and other angel investors.

Hexacore secures $3.5M in funding

The amount raised from this funding round will go towards growing the expert team at Hexacore. The team behind this company has experience creating games that have gathered much popularity with more than 350 million downloads. Some of the leading titles include Blend It 3D, Sushi Roll, and Merge Animals.

The investment announced by the company will boost the development of innovative mobile games at the company. It will also boost hybrid monetization, including in-app purchases, rewarded ads, and NFT collectibles.

The director and co-founder of Scalo Technologies, Abdumalik Mirakhmedov, commented on the development saying that Hexacore used a groundbreaking approach in Web3 gaming. As such, the vision of the company is aligned with Scalo Technologies’ investment policy.

Mirakhmedov also said that Scalo Technologies believed that Hexacore had the potential to emerge as a leading player in the Web3 gaming industry. The platform could transform how gamers interact with in-game assets, which will largely benefit the hybrid monetization model.

“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,” said a fellow co-founder at Scalo Technologies, Rashit Makhat.

Scalo Technologies has invested significantly in startups in the technology industry. The recent funding into Hexacore shows the company’s commitment to the growth of the Web3 industry. Scalo has also invested in the Noah money app that supports saving, spending, and earning Bitcoin.

Hexacore is growing its presence in Web3

The products offered by the company also had the potential to achieve scalability and attract players in the traditional gaming industry. The CEO of Hexacore, Mikita Khazau, said that the company was leveraging blockchain technology to give gamers access to a new kind of ownership and control over in-game assets.

Khazau has also said that Web3 technology allows individuals to achieve ownership over in-game assets and also trade them. The company was working towards ensuring that these in-game assets were interoperable.

A similar sentiment has been shared by the co-founder of Hexacore, Aleksandr Krivolap, who said that the company would use the raised funds to boost the development and publishing of its flagship product and other games. The funding will also support the company’s vision for the Web3 space, grow the team and invest in development and marketing.

Scalo Technologies was started in Singapore in 2020. The company has been using Dubai as its main base of operations to tap the rapidly growing business environment in the region. Dubai has attracted many businesses because of its buzzing economy and robust government initiatives.