Indian Angel Network (IAN) has confirmed pledging Rs. 5 Crores (US$ 1 Million) to online gaming start-up Gamiana.
Gamiana intends to utilize the funds to enhance software development, increase customer base & bid for overseas contracts revealed Vishal Golia, co-founder of Gamiana, “We, at Gamiana, will now be able to leverage the global presence, market insights and network of IAN’s global members to fuel our growth” As part of the deal, IAN member Chetan Shah, has joined the board of Gamiana.
While gaming companies are sprouting up, Gamiana’s strategy to target emerging markets makes business sense. Secondly, Gamaina wants to be a strong contender in the Mobile Phone Gaming arena. With 900 Million GSM connections, even a small percentage adopting their games will have a huge impact on profit margins!
How does Gamiana intend to earn? Gamiana has introduced two free games. Jamia, which is free-to-play browser-based virtual world and Vinashi, which is a real time strategy game . Both the games are targeted at the social space where players can connect and interact with thousands of others globally. Though free-to-play, additional items in the game have to be bought with real-world money! Gamiana’s games are multi-platform. This strong-point should definitely work in Gamiana’s favor, since players won’t have to buy additional hardware just to play it’s games.
With an estimated US$ 9 Billion virtual goods market, with main competition from Zynga, let’s see how Gamiana fares.
Do you regularly play virtual games?