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Bombay Play has raised $7 million in a brand new spherical of funding, so it may possibly construct more instant games on platforms comparable to Facebook.
The Bangalore, India-based firm is specializing in “hypersocial gaming,” or informal games you can play with your pals, mentioned Oliver Jones, CEO of Bombay Play, in an interview with GamesBeat. Bombay Play has already seen success with more than 40 million gamers worldwide.
The funding spherical was led by Kalaari Capital whereas additionally witnessing participation from all of its present buyers particularly Lumikai Fund, Leo Capital, and PlayCo. Other new buyers like Winzo, AdvantEdge VC, AMEA Ventures amongst others.
It wasn’t essentially that simple to boost the spherical, as the corporate isn’t making blockchain games, Jones mentioned.
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“We’re raising money at a time when crypto is all the rage and pitching a traditional gaming company was not so cool,” Jones mentioned, who began the corporate with Abhas Saroha. “We found ourselves saying, ‘We are good game developers. And that’s what we’re going to pitch. We’re not going to sort of sell you anything other than that we make great games.’ We purely relied on things like traction. user engagement and revenue.”
Indeed, the corporate has 40 million gamers that it may possibly speak about, and it may possibly speak about the way it’s making actual cash.
“We’ve found some really great success in these instant games. These games don’t require downloads,” Jones mentioned. “The sweet spot we found is the games that are easy to pick up, and super easy to socialize.”
With the capital raised, the corporate plans to take a position it in scaling its present “hypersocial” recreation choices, supporting upcoming initiatives whereas additionally devoting a part of the cash. Word games are one of many classes the corporate will give attention to.
“Wordle is what we bring up when people ask us to explain hypersocial, said Abhas Saroha, cofounder of Bombay Play, in an interview with GamesBeat. “It has a very strong community around it. That’s what we’re trying to do.”
Jones added, “Wordle is the new FarmVille.”
Bombay Play’s games embrace titles like Dice Merge Puzzle, Card Party, and Daily Word Puzzle. These games take about three months or six months to develop, Jones mentioned. In that sense, they’re not so simple as hypercasual games, which will be developed in a lot shorter games. The firm tries to comfortable launch its games as early as it may possibly.
“We’re in between casual games and hypercasual games,” Jones mentioned.
Last yr, the corporate launched eight games. This yr, it plans to launch 24.
While the corporate is concentrated on Facebook Instant Games, it will distribute its games throughout a number of platforms and channels. The games are in style in India, however they’re additionally large in the remainder of the world. The viewers is in locations in Asia like India, the Philippines, Vietnam, and Thailand.
“We’ve also found highly engaged users in tier one countries when it comes to gaming in the U.S., Europe, Australia, and New Zealand. We’re gaining traction and seeing revenue coming mostly from those areas,” Jones mentioned.
The firm has now raised over $9.5 million in capital, and the newest financing more than quadruples the valuation of its Pre-Series A spherical in 2020.
Salone Sehgal, basic companion at Lumikai, India’s first gaming and interactive media fund, is considered one of Bombay Play’s early buyers.
“At Lumikai, we have witnessed the tremendous evolution of Bombay Play as a studio from seed to scale,” she mentioned in a press release. “Oliver and Abhas, as veteran gaming entrepreneurs, bring extensive domain expertise, strong user insights, data-driven development, and a world-class team towards building hit games from India. We are elated to continue being a support and mentor to Bombay Play’s continued growth and commitment to introduce shared social experiences.”
Founded in 2018 by Oliver Jones and Abhas Saroha, Bombay Play is presently headquartered in Bangalore and has 50 folks. The firm plans to double its workers by the tip of the yr.
“We were highly impressed with what Oliver and Abhas have been able to achieve and they are definitely one of the
most experienced gaming entrepreneurs in the country today,” mentioned Vani Kola, managing director of Kalaari Capital, “We are very excited about how they are disrupting the casual gaming industry with their hypersocial model and are delighted to partner with them in this journey.”
Jones mentioned the corporate has been finding out blockchain know-how for games and he believes many firms are enthusiastic about it. But he sees the corporate specializing in high quality games first, and monetization second. So he expects it may very well be a pillar sooner or later, however not essentially a core a part of the corporate.
Making games in India is value efficient, however maybe not as a lot because it was. The prices for Indian recreation builders are just like value in Eastern Europe, Jones mentioned.
“And gaming companies can hire from anywhere,” Saroha mentioned. “It’s really a globalized the workforce and salaries in India have been improving a lot. But it’s fine for a startup like us because we’re not optimizing so much for the cost. We are optimizing to release good games.”
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