Grantoo pivots into multiplayer mobile gaming, raises $3.5M, and renames itself Fuel

Grantoo started as a game platform that enabled college students to play games and raise money for their education. But it never quite caught on, so the company has rebranded itself as Fuel. It has raised $3.5 million and is now focused on providing social multiplayer gaming for mobile-game developers.

The funding for the San Francisco company comes from Middle East Venture Partners and Rising Tide Fund. Mikhael Naayem, the founder of Fuel, told GamesBeat that the company hopes to offload the task of building a multiplayer platform from game developers so they can concentrate on making their games. Fuel believes it can help developers make more money by improving the engagement of users, which results in longer retention and better monetization.