An exciting Game development startup announced $7 million in funding.
Let’s talk about the game development industry and what it does. Do you know what game development is? It is defined as the art of creating games and describing the structure, development and release of games. This involves concept generation, design, construction, testing, and finally publishing. The person who works in the field of game development is generally referred to as a game developer. A game developer can be a programmer, sound designer, artist, designer, or anyone else with a role in the industry.
The famous game engines are CryEngine, Unreal Engine, Unity Game Engine, Game Maker, Construct 2 or 3, Twine, Source, Frostbite and BuildBox. Our country, India, is one of the fastest growing gaming markets in Asia. Mobile and PC games industry revenue is expected to reach USD 1.49 billion in 2025, growing at a CAGR of 29.8% from USD 534.1 billion in 2021.
We will move on to funding a game development startup that was recently conducted.
Announcement of funding for a game development startup
Game development startup, Bombay Play, has raised funds worth $7 million, as announced on April 04, 2022. This funding round is the Series A funding round and was led by Kalaari Capital . Other investors who participated in this funding round were Winzo, AdvantEdge, VC and AMEA Ventures. Even some of the startup’s already existing investors were also part of this funding round. These investors were Lumikai Fund, Leo Capital and PlayCo.
The startup plans to use the funds raised to augment its existing “hypersocial” game offerings. The startup also plans to use part of the funds raised to give a boost to its upcoming projects. The game development startup will also invest in research and segmentation in this area. According to the startup, this new funding round will help the startup increase its development bandwidth and revenue tenfold. The startup after this funding round has raised more than $9.5 million in total capital. The startup previously raised $1.5 million in June 2020 and $1 million in December 2020.
About the game development startup that announced funding
Game development startup, Bombay Play was founded in 2018 by Oliver Jones and Abhas Saroha and is headquartered in Bengaluru, Karnataka. The startup is a game studio that is engaged in the development of the Hyper Social games genre. The mission of the game development startup is that it loves and understands gamers and always strives to provide the best entertainment. The startup is humble yet confident in its quest to create an extraordinary experience for gamers.
The goal of the startup is to create the future of gaming, essential entertainment, wherever billions of smiles will come. The startup focuses on HTML-5 based casual games that were designed with a social-first approach and are played on various platforms. The startup has developed many games for its users. These games are Dice Merge Puzzle, Card Party and Daily Word Puzzle, which is a word puzzle like Wordle. These games are so popular that there are more than 40 million gamers worldwide playing these games. The game development startup currently has about 50 employees and plans to double the number by next fiscal year.
The startup has an innovative factory model, whereby it has teams that create games from the drawing boards to launch and publish games made by others. The startup’s games are available on the Web, Apple and Google marketplaces. The startup’s current monetization is through ads and in-app purchases.
Coming to Bombay Play, innovation, health and happiness go hand in hand. The startup is not only invested in the overall health of employees but also in safeguarding their future. It offers competitive salaries, performance bonuses and equity participation opportunities. It also provides medical insurance to employees and their families. It offers flexible work hours, paid time off, employee assistance programs, and maternity and parental leave for birth parents and adoptive families.
The game development startup has an amazing culture of employment engagement with TGIF parties, game jamming sessions, monthly game changing rewards and VOBP which is short for Voice Of Bombay surveys Play Feedback.
About the founders of the game development startup
The game development startup, Bombay Play was founded by Abhas Saroha and Oliver Jones. These co-founders have worked together for nearly a decade.
Abhas Saroha previously led engineering at Zynga, Moonfrog and Makemytrip.com.
Oliver Jones previously led game design at Glu Mobile and Zynga. There he helped create one of India’s most successful card games, Teen Patti Gold.
About Kalaari Capital
Headquartered in Bengaluru, Karnataka, Kalaari Capital is a technology-focused, early-stage venture capital firm. It is committed to investing in seed and Series A startups and empowers visionary entrepreneurs to create unique solutions that reshape the way Indians live, work, consume and transact. Kalaari Capital’s vision is to play a vital role in the Indian startup ecosystem by enabling entrepreneurship in the digital economy. Kalaari Capital’s mission is to create deep, long-term partnerships with founders through the challenges of turning their ideas into successful businesses.
Kalaari Capital’s portfolio consists of companies like ATIRATH, AGRIM, Aastey, Cashkaro.com and Cure. fit, Dream11, HealthPlix, Guardian, Winter, Koo, Kind Life, Jumbotail, Mall91, MedPlus, MilkBasket, MOZARK, MyGlamm, Myntra, Shop 101, Skit, Snapdeal, Urban Ladder, VOGO, Via.com, YourStory and many others.
Founded in 2018 and headquartered in New Delhi, India, Winzo is the country’s largest social gaming and interactive entertainment platform. Winzo is committed to providing a platform for third-party game developers to host their games and earn up to 100x revenue compared to conventional revenue models such as IAPs and ads.
AdvantEdge is a startup technology fund that invests in consumer sectors with a focus on mobility. Advantage Edge’s portfolio consists of companies such as Rapido, Chalo, Park+, GRIP, Exponent Energy, ByteLearn, Krab, TyrePlex, White Owl and others.
The startup is setting foot in the gaming industry, which is growing at an impressive pace. We wish the startup good luck and a bright and prosperous future.