Social gaming company, Hashcube, has raised an undisclosed amount of funding from Indian Angel Network (IAN) and Blume Ventures. According to a statement from the company, IAN investors including Sharad Sharma, Rajan Anandan and Hemant Kanakia have participated in this funding round and will be joining the company’s board. Hashcube plans to use the funds raised, to improve its existing games with new features, to build a portfolio of new games and for promoting its existing games.
Founded in January 2008, Hashcube has developed puzzle games for social networking sites like Facebook, Myspace, Orkut and Hi5 and mobile platforms like Apple’s iOS. Among the titles developed by the company include Sudoku, SudokoQuest, Loop the Loop, DotGame on the Facebook platform and Sudoku Solver, Photographic Memory Game, and Color Matching Game among others on the web. The company claims to have more than 2 million users.
Interestingly, Indian Angel Network has also invested in an online gaming startup Gamiana in February 2012. While the exact amount of funding was not disclosed, the company had revealed that IAN has invested under a million US dollars and Chetan Sharma of IAN had joined Gamiana as a board member.
Similarly, Blume Ventures along with Mumbai Angels and other angel investors has also invested an undisclosed amount in the game development studio Rolocule Games which specializes in developing console-like games for tablets and smartphones. The company offers iOS games including Flick Tennis, Touch Squash, and Super Badminton 2010 and had claimed to have recorded more than 1.5 million downloads in more than 100 countries. It had also stated its plans to launch Android games and social games, adopt a freemium model for its games in the forthcoming months and offer virtual goods through in-app purchases.
Other developments: In March 2012, Nirvana Venture Advisors had acquired 10% in Games2Win from early investors like Nexus India, ICICI Ventures and from a few senior company employees while Ibibo had repositioned itself as a gaming network. Japanese social gaming major DeNA was also planning to launch its business in India, and had hired Depinder Singh as its Head of Business Development for India and the Middle East.