An African-owned mobile gaming startup, Rise of Fearless, has raised $1m from investment firm Epic Edges Capital as it prepares to relaunch its battle royale game inspired by Ethiopia’s historic victory at the Battle of Adwa.
The investment, structured as a Simple Agreement for Future Equity (SAFE), will support the company’s expansion across talent recruitment, technology, infrastructure, marketing and community development.
Founded by Kanessa Muluneh, Rise of Fearless is a mobile battle royale game built around the 1896 Battle of Adwa, in which Ethiopian forces defeated an invading Italian army. The game draws on the historical victory as part of its African-inspired gaming identity.
The funding also brings several international gaming industry executives and firms into the project to support its development and commercial expansion.
Miniboss Solutions, led by Adam Krause and TJ Consunji, will serve as an embedded publishing partner, while IDG Intelligence, headed by Yoshio Osaki, will provide market research and strategic guidance.
Trick Question Studios, founded by TQ Jefferson, will oversee franchise development and creative direction, while Spectra Entertainment will handle art and technical development.
Muluneh said the firms were engaged as service providers and would not receive equity or royalties from the game.
“We couldn’t be more excited about our new team taking an African-owned gaming franchise to international distribution and commercial scale,” she said.
Rise of Fearless launched in 2025 and has recorded more than 15,000 downloads, with its largest player communities in Nigeria, Ethiopia and South Africa.
However, the company suspended promotional activities several months ago while bringing the new team on board. Muluneh said the game would temporarily go offline for technical upgrades, with a relaunch expected within a couple of weeks.
“Quality matters first,” she said.
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The startup currently generates revenue through advertising and has yet to prioritise other monetisation channels. Muluneh said the next phase would focus on introducing payment options that make it easier for players across African markets to purchase in-game items and services.
She identified limited access to online payment systems in several African countries as a major challenge, adding that the company plans to combine international payment platforms such as Xsolla with offline gift cards and redemption codes.
The immediate target is to grow the game’s player base to 100,000.
Although an earlier version of the project explored blockchain technology and non-fungible token (NFT) collectibles, Muluneh said blockchain and play-to-earn features were no longer immediate priorities.
The investment comes as Africa’s gaming market continues to expand, driven largely by mobile gaming and a growing population of young digital consumers.
Research projections from Newzoo and Carry1st estimate that Africa’s gaming audience will exceed 406 million players in 2026, with market revenue reaching $1.98bn. Mobile gaming is expected to account for 81.8 per cent of the market.
Despite the growth, African gaming studios continue to face funding and commercialisation challenges. A 2025 report by KPMG and Maliyo Games found that only three per cent of the 66 studios surveyed had generated at least $1m in revenue.
Muluneh said she wanted to retain ownership of the game’s intellectual property in African hands and develop Rise of Fearless into a platform that could support other African game developers.
She said the investment was intended to support long-term growth rather than a quick financial return, adding that talented African developers should be able to build globally competitive games without leaving the continent.
About the Author
Cecilia Attah is a tech analyst with a degree from Benue State University. She covers tech news and startups at TechRegard with a focus on how technology is transforming Africa and shaping the global landscape.
