Companies · Gaming

Carry1st

Cape Town · Africa · Gaming

Diligence memoA one-page analyst read on Carry1st — recommendation, valuation, rhythm, risks.
$2.5M
Total raised · real
1
Rounds
Latest step-up
Top 28%
Sector rank · raised
Seed
Latest stage · inferred · Thu May 28 2020 00:00:00 GMT+0000 (Coordinated Universal Time)

Carry1st looks fair against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the gaming sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 1.49× the median modeled value of Seed Gaming companies in 2019–2021 (16 peers) — value vs value, same stage and era.
  • Within the normal band (149% of peer median) for its niche.
Dormant
  • Last raise 6.1 yr ago; this sector typically re-raises about every 12 months.
  • Only one round on record and long silent — often defunct, acquired, or gone quiet.
Leadership

No named principal in this company's public records yet — see all operators below.

4 Investors
Where it sits in Gaming

Carry1st is one of 344 Gaming companies tracked from Cape Town, Africa. By capital raised it ranks in the upper tier (ahead of 73% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

Carry1st SA mobile gaming startup Carry1st raises $2.5m seed funding round 0 By Tom Jackson on May 28, 2020 News , Southern Africa South African mobile gaming startup Carry1st has raised a seed funding round of US$2.5 million to help it add to its team, develop its tech, and publish new content. Launched last year and based in Cape Town, Carry1st is a mobile games publisher serving the first generation of African smartphone users that has so far reached over 1.5 million users across the region.

Carry1st SA mobile gaming startup Carry1st raises $2.5m seed funding round 0 By Tom Jackson on May 28, 2020 News , Southern Africa South African mobile gaming startup Carry1st has raised a seed funding round of US$2.5 million to help it add to its team, develop its tech, and publish new content. Launched last year and based in Cape Town, Carry1st is a mobile games publisher serving the first generation of African smartphone users that has so far reached over 1.5 million users across the region.

gaming

As reported in public records reported — not modeled.

ZA
Jurisdiction
4
Investors (latest)
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$25M$50M$75M$100MSeed · 2020-05-28 Raised $2.5M (real) Modeled valuation $55M (est)$2.5M$55MSeed2020

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$2.5M · 2020

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$54.8M
Base estimate est.
$2.0M
Conservative case
$430.0M
Upside case
$12.5M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the gaming sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
35%
Survival probability
16% low · 55% high
1.52×/yr
Annual markup
2.00×/yr upside case
6.0 yr
Elapsed time used
6.1 yr actual, capped for stale marks
gaming
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
6.1 yr
On record since
2020
First round
1
Rounds on file
How it compares to the market

Benchmarked against 344 companies in Gaming. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 0.9× of median
This company$2.5M
Sector median$2.7M
Latest round — vs other Seed rounds in sector (real $, this stage) 1.3× above median
This company$2.5M
Sector median$2.0M
Modeled value — vs sector median (estimate, all stages) 2.4× above median
This company$54.8M
Sector median$22.8M

Raised more than 73% of sector peers (real $). Modeled value above 85% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Seed) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #3 of 16.

This companyCohort peer
$10.0M$100.0M$1.0M$10.0MCapital raised (log)Skystone Games Inc. · Seed Raised $3.0M · modeled $64.8M (est)WildCard Games, Inc. · Seed Raised $3.7M · modeled $55.0M (est)XY Gaming, Inc. · Seed Raised $2.5M · modeled $54.8M (est)Lionheart Games, LLC · Seed Raised $2.0M · modeled $43.8M (est)Rogue Games, Inc. · Seed Raised $5.8M · modeled $41.6M (est)Good Gaming, Inc. · Seed Raised $3.3M · modeled $38.1M (est)Game Band Inc. · Seed Raised $2.6M · modeled $36.9M (est)Netspeak Games Ltd · Seed Raised $1.7M · modeled $36.7M (est)Game Jolt Inc. · Seed Raised $2.6M · modeled $35.7M (est)Tonk Tonk Games, Inc. · Seed Raised $1.5M · modeled $32.9M (est)CLT Esports LLC · Seed Raised $1.3M · modeled $27.4M (est)Carry1st (this company) Raised $2.5M · modeled $54.8M (est)Carry1st
CompanyStageRaised · realValue · estvs peer med.
Skystone Games Inc.Seed$3.0M$64.8M1.76×
WildCard Games, Inc.Seed$3.7M$55.0M1.49×
Carry1st this companySeed$2.5M$54.8M1.49×
XY Gaming, Inc.Seed$2.5M$54.8M1.49×
Lionheart Games, LLCSeed$2.0M$43.8M1.19×
Rogue Games, Inc.Seed$5.8M$41.6M1.13×
Good Gaming, Inc.Seed$3.3M$38.1M1.03×
Game Band Inc.Seed$2.6M$36.9M1.00×
Netspeak Games LtdSeed$1.7M$36.7M1.00×
Game Jolt Inc.Seed$2.6M$35.7M0.97×
Tonk Tonk Games, Inc.Seed$1.5M$32.9M0.89×
CLT Esports LLCSeed$1.3M$27.4M0.74×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$2.5M2020-05-28$12.5M$54.8M45%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$2.5M2020-05-28
    • First recorded raise — entered as Seed.
    • 4 investors on this round.
Intelligence
Modeled next raise
$4.0M
Modeled next size est.range $2.6M$6.4M
Last step-up
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Registry & provenance

Carry1st is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
ZA
Jurisdiction
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
SkrmiishGamingSeed$2.5M$22.8Msame sector · same stage
XY Gaming, Inc.GamingSeed$2.5M$54.8Msame sector · same stage
Savepoint Games Inc.GamingSeed$2.5M$28.7Msame sector · same stage
Game Band Inc.GamingSeed$2.6M$36.9Msame sector · same stage
Beautiful Game, LLCGamingSeed$2.6M$57.0Msame sector · same stage
Double Crown Gaming Co.GamingSeed$2.4M$52.6Msame sector · same stage
Game Jolt Inc.GamingSeed$2.6M$35.7Msame sector · same stage
Harmony Games Inc.GamingSeed$2.7M$16.4Msame sector · same stage
Investors

Public records name issuer insiders, not the funds in a round — these investor links come from corroborating sources.

FirmRoundConfidence
Chandaria CapitalSeed55%
CRE Venture CapitalSeed55%
Lateral CapitalSeed55%
Perivoli InnovationsSeed55%
Frequently asked
How much funding has Carry1st raised?
Carry1st has raised approximately $2.5M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Carry1st's estimated valuation?
Provath's modeled valuation for Carry1st is approximately $54.8M (modeled range $2.0M–$430.0M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Carry1st at?
Carry1st's latest modeled financing stage is Seed. Its most recent recorded round closed around Thu May 28.
What does Carry1st do and where is it based?
Carry1st operates in the Gaming sector, based in Cape Town, Africa. Carry1st SA mobile gaming startup Carry1st raises $2.5m seed funding round 0 By Tom Jackson on May 28, 2020 News , Southern Africa South African mobile gaming startup Carry1st has raised a seed funding round of US$2.5 million to help it add to its team, develop its tech, and publish new content. Launched last year and based in Cape Town, Carry1st is a mobile games publisher serving the first generation of African smartphone users that has so far reached over 1.5 million users across the region.
Explore related

See where Carry1st sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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