Fuel Powered
Cloud-based development platform that connects features-as-a-service to mobile games.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
$1.1m Valuation: $1.1m | Acquisition | ||
| Total Funding | 000k | ||
Fuel Powered, founded in 2011 by Mikhael Naayem and Alan Price, established itself as a provider of cloud-based tools for mobile game developers. Initially known as Grantoo, the San Francisco-based company focused on creating solutions to enhance user engagement, retention, and monetization for game publishers. The company's core offering was a customizable SDK that enabled developers to integrate multiplayer and online features, such as live events, into their games.
The company's technology, particularly its asynchronous multiplayer solution called Compete, gained significant traction, surpassing 200 million registered users. This success attracted major clients in the gaming industry, including SEGA, Bandai Namco, Codemasters, Miniclip, Spry Fox, and Huuuge Games. One of its notable clients was Axiom Zen, the developer behind the pioneering blockchain game CryptoKitties. This relationship signaled Fuel Powered's early involvement in the emerging blockchain and crypto gaming sectors.
In a significant milestone, Hong Kong-based Animoca Brands acquired a 60% controlling stake in Fuel Powered in March 2018 for A$752,263. At the time of the acquisition, Fuel Powered was a team of eight and had achieved break-even with revenues of approximately A$0.5 million in 2017. The acquisition was a strategic move for Animoca Brands to expand its footprint in artificial intelligence, blockchain, and crypto gaming. Following the deal, Fuel Powered's Mik Nayeem joined Animoca Brands as President of Games, North America. The business model centered on providing a features-as-a-service platform, leveraging AI and machine learning to maximize lifetime value (LTV) for game publishers.
Keywords: mobile game developer tools, cloud-based gaming services, game monetization, user engagement platform, multiplayer SDK, features-as-a-service, game publisher solutions, Animoca Brands, Mikhael Naayem, Alan Price, CryptoKitties, blockchain gaming, game analytics, live events platform, LTV optimization, asynchronous multiplayer, Compete, Grantoo, SEGA, Bandai Namco