African-Owned Game Rise of Fearless Secures $1M For Expansion

African-owned mobile game Rise of Fearless has secured $1 million in funding from Dubai-based investment firm Epic Edges Capital. The capital was raised through a Simple Agreement for Future Equity (SAFE) to expand the game's audience and build a commercially sustainable gaming franchise. This investment, announced following an October 27 interview with founder Kanessa Muluneh, comes amid growing investor interest in Africa’s gaming industry.

The fresh capital will fund essential areas including game development, infrastructure improvements, marketing campaigns, and community-building initiatives. A key part of the strategy involves bringing experienced international gaming executives and developers into the project to enhance its capabilities. Under the financing arrangement, Rise of Fearless has one year to meet agreed performance milestones, specifically reaching 100,000 active players and completing significant technical improvements to the game.

Currently, Rise of Fearless has recorded over 15,000 total downloads, with its largest player communities located in Nigeria, Ethiopia, and South Africa. Founder Kanessa Muluneh estimated personally spending nearly $2.8 million developing and promoting the game, which presently generates revenue solely through advertising. The broader African gaming market is projected to generate $1.98 billion in revenue by 2026, with mobile gaming expected to account for nearly 82% of that total.

This investment marks a strategic shift for Rise of Fearless, moving from an experimental gaming product to building a business capable of competing internationally. It underscores a growing investor appetite for African-based gaming ventures and the unique storytelling they offer, even as developers work to convert player engagement into sustainable revenue. Muluneh expressed confidence that with a strong team and marketing plan, the company can easily achieve its target of 100,000 active players in Africa.

Launched in 2025, Rise of Fearless is a free-to-play battle royale game based on Ethiopia’s 1896 Battle of Adwa, where players compete in peer-to-peer survival matches. The game is available on both the Google Play Store and the App Store, allowing broad access to its player base. Muluneh is expanding her monetization strategy beyond gameplay and advertising revenue to build a broader gaming franchise, exploring additional streams such as merchandise, events, sponsorships, and licensing the game’s intellectual property. The company also plans to integrate four international gaming firms into its development and publishing team to improve gameplay and strengthen its commercial strategy.