Diligence memo · auto-generated · as of July 2, 2026
Carry1st
Carry1st looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Carry1st operates in Gaming, 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.
Sub-sector tags: gaming.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Carry1st has raised $2.5M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Seed (a $1.0M–$4.0M round).
Largest single filing: $2.5M on 2020-05-28.
Most recent recorded round closed around 2020-05-28.
Valuation (modeled)modeled
Provath models Carry1st at approximately $55M (range $2.0M–$430M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: 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.
Financing rhythm & timingmixed
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.
Comparablesmixed
Capital scale ranks ahead of 73% of Gaming peers (344 compared).
Modeled value ranks above 85% of those peers.
Closest niche peers: Skystone Games Inc., WildCard Games, Inc., XY Gaming, Inc., Lionheart Games, LLC, Rogue Games, Inc..
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.