Bangalore-based offline & online game maker MadRat Games has raised around $1 million investment from a series of investors including Flipkart founder Sachin & Binny Bansal, Pine Labs and GlobalLogic.
Other investors who participated in this investment round include GlobalLogic founder Rajul Garg, Sanjay Singh, Tarun Upadhyay and Manoj Agarwala.
Founded in 2010 by Rajat Dhariwal, Madhumita Halder and Manuj Dhariwal, MadRat Games had previously raised $500,000 from First Light Ventures and Blume Ventures in December 2012. An Economic Times report however suggests that Blume Ventures and First Light Ventures didn’t participate in this round.
The company plans to use the investment raised for marketing, branding and expansion. MadRat Games CEO Rajat Dhariwal told ET that they plan to open an offline experience store in Bangalore and use customer data from retail stores for future marketing and product design.
Dhariwal also added that they are changing their distribution strategy after they realized that while parents knew their games, they weren’t aware of the brand since games of various brands were grouped together on the same shelves. The company is now focusing on retailing only through 50 stores wherein it will setup custom shelves to showcase only their products. While MadRat Games also sells its games through e-commerce sites like Flipkart and Amazon, Dhariwal told the publication that these account for only 5% of their sales.
MadRat Games focuses on educational board games and claims to have launched more than 70 game titles including Aksharit (Hindi word board game), Jigsaw puzzles like Worldopedia, Mysteries of Amazon, Statue of Liberty, The Great Pyramid and modular toys. The company claims to have sold more than 275,000 units until now.
In March this year, it had released a freemium iPad app called Autista, that aims to improve the verbal and fine motor skills of kids with Autism and other learning disabilities. Besides this, it has also developed mobile games like Word Matki and Mystery Land of Aksharit among others.
Earlier this month, mobile gaming startup HashCube had also raised Rs 4.2 crore from Nazara Technologies, Ah! Ventures, CDMA Development Group founder Perry LaForge and existing investors, while Mango Games had also raised funding from former Facebook VP Chamath Palihapitiya’s Social+Capital Partnership, MakeMyTrip CEO Deep Kalra and InMobi Founder Naveen Tewari in February this year.