Editor’s note: African-Startups is a sister publication of EU-Startups, bringing trusted coverage of startups, venture capital, and innovation across Africa.
Rise of Fearless, an African-owned mobile battle royale game inspired by Ethiopia’s historic 1896 Battle of Adwa, has secured $1 million in funding through a Simple Agreement for Future Equity (SAFE).
The funding came from Epic Edges Capital, a Mauritius-based investment and advisory firm specialising in international wealth protection for entrepreneurs and HNWI.
“What makes this investment particularly meaningful is that it goes far beyond financial returns. It’s about believing in African entrepreneurship, recognising extraordinary talent, and giving ambitious founders the capital and opportunities they deserve,” Remco Corman, founder of Epic Edges Capital, wrote on LinkedIn.
Rise of Fearless was founded by Kanessa Muluneh, an Ethiopian refugee born in Ethiopia and raised in the Netherlands. She recognised the absence of African representation in the global gaming industry and set out to change that.
“Rise of Fearless is not just a game but a groundbreaking step toward bringing African narratives to the global gaming industry,” reads the company’s investor page.
The game draws on the legacy of the Battle of Adwa, in which Ethiopian forces, led by Emperor Menelik II and Empress Taytu Betul, defeated an invading Italian army in 1888 (Ethiopian calendar).
Rise of Fearless brings this history to life through carefully crafted maps drawn from iconic African landscapes, including the Great Rift Valley and Lalibela’s rock-hewn churches, while the characters in the game are also grounded in historical tradition.
Before this funding, Muluneh bootstrapped Rise of Fearless, growing it within the Dire Lej NFT community during the crypto bear market. The free-to-play game has surpassed 15,000 downloads, with its largest player communities in Nigeria, Ethiopia, and South Africa.
Alongside the funding, the investor also announced a growing team of strategic partners. Miniboss Solutions, founded by Adam Krause and TJ Consunji, is joining as publishing partner, while IDG Intelligence, led by President and CEO Yoshio Osaki, will provide market research and strategic advice.
Trick Question Studios, founded by TQ Jefferson, will oversee franchise development and creative direction, and Spectra Entertainment will contribute game development and technical art expertise.
“Kanessa Muluneh bootstrapped it past 15,000 downloads… and she did that while everyone in this industry was busy explaining how hard the moment is,” Jefferson said.
The funding arrives as investor appetite for African gaming startups grows. Earlier in October 2026, Nigeria’s Vatar Inc., the company behind the viral browser game Lagos Life, raised a $500k angel round at a $10 million valuation, just nine days after launch.
According to a report by ResearchAndMarkets.com, Africa’s gaming market is estimated to reach roughly $2.29 billion in 2026 and is forecast to expand to $4.1 billion by 2031, at a CAGR of 12.32%. The continent is home to over 349 million gamers, more than 95% of whom play on mobile devices, representing a largely untapped opportunity.
The $1 million in fresh capital will support expansion of the game’s technology stack, infrastructure, and team, while also fuelling marketing and community-building. Muluneh plans to bring international gaming specialists onto the team while simultaneously growing local capabilities. The company’s roadmap includes Web3 integration through a play-to-earn model, expansion into eSports, and extensions to PC and console platforms, with a target of reaching 5% of Africa’s 1.5 billion people.
