The martial arts academy operator is preparing two new locations and a larger workforce, with investor disclosures putting 2025 revenue at $2.33 million.
Dubai-based martial arts academy operator GMNSM is preparing its next expansion into Riyadh and Monaco after raising $2 million, taking a business built around regular coaching sessions into two new markets. The plans follow a period in which its investor says annual revenue reached $2.33 million in 2025.
The business, founded by Andrej Kuprejev in 2022, reported 11 academies across the UAE, Qatar and Cyprus when the funding was announced in August. More than 700 children and adults were training across the network. VEYRA Capital and an undisclosed private investor supplied the new capital, with GMNSM also setting a target to expand its workforce from 40 to 60 people by the end of 2026.
Those plans put staffing, premises and the delivery of classes at the centre of the next phase. The proposed headcount increase is 50%, a substantial operational commitment alongside the two named locations. The story is therefore about the infrastructure required to export a sports academy business as much as the financing behind it.
Monaco moves from expansion plan to local presence
There is already a public record behind the Monaco project. A notice published in the Journal de Monaco on 3 July 2026 records the establishment of GMNSM RIVIERA, with its registered office at Le Renzo on Quai du Petit Portier.
The notice names Kuprejev and Alexandre Semboglou as managers and gives the company registered capital of €15,000. Its stated activities cover a fitness and strength-training facility offering individual and group classes, including martial arts and gymnastics. That registered capital is a separate figure from the $2 million investment announced for the wider business.
GMNSM’s own Monaco page is advertising membership pre-orders and identifies the same Le Renzo address. Together, the corporate filing and customer-facing page establish more than an intention to enter the market, although neither provides a confirmed opening date in the material reviewed.
Monaco follows an existing presence in Cyprus. It is therefore a further European location, rather than the network’s first European operation. The UK, Switzerland and Spain have also been identified as future expansion markets, without a published opening timetable in the funding announcement.
Riyadh adds a different scale of opportunity
GMNSM has described its planned Riyadh academy as the starting point for a wider Saudi presence. Its entry comes against a measurable national backdrop: the General Authority for Statistics reported that 59.1% of residents aged 18 and over undertook at least 150 minutes of physical activity a week in 2025.
The official statistics, reported by the Saudi Press Agency, put participation among people aged 18 to 29 at 71.2%. They also show why the figures need careful interpretation. Physical activity includes walking or cycling for transport and activity connected with work, as well as exercise outside work. The survey measures behaviour across the population; it does not measure paid gym memberships or martial arts enrolment.
For the academy business, that distinction separates a broad participation environment from the specific market it will enter. GMNSM operates structured classes for children and adults, and its Saudi plans concern a physical venue, teaching staff and recurring attendance. Its expansion announcement has yet to set out the Riyadh site’s capacity, fees or opening date.
The operating model behind the expansion
GMNSM combines martial arts instruction with sessions focused on social and personal development. Its disclosed programme includes physical training followed by time devoted to subjects such as reflection, goal setting and problem-solving. That structure makes the teaching method, as well as the training space, part of what has to be reproduced across locations.
In a September interview with Inc. Arabia, Kuprejev said the approach would need to reflect local families’ expectations in each market. He described Riyadh as an opportunity connected with Saudi investment in sport and youth development, while presenting Monaco as a base serving an international family audience.
The company also describes Allim AI, its internal lesson-audit platform, as a way to examine instructor performance, student engagement and retention. These are the company’s stated uses for the system. The expansion reporting does not provide independently measured results showing how much it has changed teaching quality or retention.
Its published franchise model offers a more tangible view of the work involved in adding sites. The process includes location selection, premises approvals, construction, training-area installation, staff preparation and operating systems. The company gives a setup timeframe of four to 12 months, underscoring the lead time associated with physical expansion.
The franchise offering addresses both standalone operators and owners of existing fitness clubs, schools or universities. It shows that GMNSM has a route for third-party participation in the network, although the announcement does not specify that either Riyadh or Monaco is being opened under that arrangement.
Revenue disclosures put the next phase in perspective
In its September portfolio update, VEYRA Capital reported that GMNSM’s revenue grew by around 90% in 2024 and another 89% in 2025, reaching $2.33 million last year. It put 2025 gross profit at approximately $345,000. These are investor-reported figures, and gross profit should not be read as net earnings after all business expenses.
VEYRA also reported September revenue of approximately AED820,000, equivalent to an annualised run rate of roughly $2.7 million. A run rate extrapolates a shorter period; it is not a full-year revenue result. The disclosure nonetheless provides a more specific picture of the business entering the expansion than academy numbers alone.
The next reported milestones are now operational: an opening date and site details for Riyadh, the start of classes at the Monaco location, and progress towards the year-end staffing target. Those developments will establish how the new investment translates into the network’s next two locations.
