Mech Mocha to raise ₹72 crore From Accel partners
Mech moncha, which is a Bangalore based mobile gaming startups has now secured Rs 72 crore in the funding round of series B, according to the report.
The startup has already raised Rs 26 crore from the Neoplux and Accel partners according to the report.
Some of the other investors include the Akatsuki, the investment arm from the Japanese Mobile Gaming company, Blume Ventures and Shunwei Capital will also going to participate in the round.
The new funds will be going to be used to develop the HelloLudo, which is a digital mobile version of the popular Indian game called the Ludo. It will also further going to use for the development of vernacular gaming products, in the Hindi language.
The startup was founded by the two IITM Gwalior Alumni Mohit and Arpita Kapoor in the year 2014. The startup as of now focuses more on the creating of mobile games for the Indian targeted audience, in order to provide up with a seamless gaming experience to the Indian users.
Arpita Kapoor, CEO of Mech Mocha, said, “Since we are on an experimental mode and primarily build products for tier 2 and tier 3 centers, our current focus is more on user growth than revenues, a strategy which is also aligned with our stakeholders. Once we hit the targeted metrics, we will then focus on revenues.”
According to a Frost & Sullivan report, the gaming market in India is expected to touch $1 billion by 2021, almost entirely driven by the growth of mobile gaming. The growth in mobile gaming is attributed to the rising penetration of smartphones and cheaper internet.
Some of the other gaming startups in India competing the Mech Mocha include the Mobile Premier League, Gamingmonk, and some others.