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Games2win Raises Rs 10 Crore From Clearstone Venture Partners

Online gaming platform Games2win.com, has raised $2 million (Rs 10 crore) series C investment from Clearstone Venture Partners USA.

The company plans to use the funds raised to acquire games and build its International team. Games2win Co-Founder and CEO Alok Kejriwal was unavailable for comment at the time of writing this article.

Prior to this, Nirvana Venture Advisors had acquired 10% in Games2Win from early investors Nexus India, ICICI Ventures and from a few senior Company employees in March 2012. However it was not very clear whether there was any additional investment in the company, or it was merely an instance of investors and employees encashing some of their stake. In March 2011, the company had raised $6 million from investors Clearstone Venture Partners and Silicon Valley Bank. Prior to that, it had raised an undisclosed amount of funding from the same set of investors.

Launched in 2007, Games2Win started off by creating quirky flash games which were often related to current topics (like throwing a shoe at a politician), and its parking games have done quite well. The company claims to have around 800 proprietary casual games and has clocked 30 million game downloads across the iTunes and Android operating systems in the past year. It also claims to register around 20 million monthly consumers across its web and mobile properties.

Other developments in game industry

Earlier in the month, Reliance Games, the mobile gaming business of Reliance Big Entertainment Pvt. Ltd, had acquired the gaming division of Funnel Japan, a mobile game development and publishing company. Reliance Games also bought a majority stake of 51% in the mobile game development studio, Bluesom Inc in Korea.

Last month, digital entertainment business Hungama had inked a joint venture with Gameshashtra to build localized games on Consoles, handheld consoles, smartphones, desktops, and feature phones. In December 2012, Blume Ventures and First Light Ventures had invested $500,000 in MadRat Games.

In January 2013, mobile games company Nazara Technologies had acquired Djuzz, the BuzzCity owned mobile games and applications portal, which was expected to be shuttered by December 31, 2012.

In September 2012, One97 Mobility Fund had exited from the Singapore based mobile social gaming company TheMobileGamer after the company had raised Singapore$ 1.8 million investment from the telecom giant, SingTel. The company had invested Singapore$ 1 million in TheMobileGamer in July 2011.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ