Games2Win has announced that it has raised an additional round of funding to the tune of $2 million (Rs. 10 crore) from Clearstone Venture Partners, a US venture capital company. The gaming company which makes casual web games and has had great success with its mobile game, ‘Parking Frenzy’ has been pushing to expand its offerings on a global level due to the popularity of their games abroad.
The company is headquartered in Mumbai but has recently established a presence in San Francisco. The funding that the company has received will be used to acquire promising games and build its International team. The company revealed that its direct to consumer approach has shown much promise and is growing at the rate of 20% every year and hence it makes sense to keep getting quality games fed into their catalogue.
Alok Kejriwal, Co-Founder and CEO of the company says,
“We are very fortunate to have Clearstone as our lead and initial investor. Clearstone has constantly contributed and supported our financing efforts over the past five years and its management team led by Sumant Mandal truly understand our business, our ambitions, our goals and the massive opportunity available in the global gaming market.”
SumantMandal, who is the Managing Director of Clearstone had this to say about the funding,
“I have been very close to Games2win and know Alok and Mahesh Khambadkone (COO and Co-Founder) very well. Games2win is uniquely positioned to leverage its games studios in India, its massive and constantly expanding content library and the booming mobile market to create a very significant and valuable globally relevant entertainment giant. Clearstone and I fully believe in the games2win business plan and fully support it.”
The company has done quite well over the years and has now amassed 20 million monthly users across web and mobile in addition to 800 proprietary casual games. The company has received investments from Silicon Valley Bank, Nirvana Digital India Fund, Nexus Venture Partners and ICICI Ventures previously.
Story Source | Games2Win