Gurugram-based casual gaming studio Funstop Games has raised $1.5 Mn in a funding round led by InfoEdge Ventures.
Founded in 2020 by Prashanth Vijay and Tamesh Sharma, Funstop Games makes casual mobile gaming apps for the global audience. It claims to have a portfolio of over 30 games and over 100 Mn game downloads globally.
The startup will use the capital to expand its game development team and boost ad-tech capabilities to strengthen its portfolio of games. In the next two years, the startup plans to expand its product, with focus on India, Turkey, Vietnam, and the UK.
Talking to Inc42, cofounder Vijay told Inc42, “We launched our first game Perfect Time in 2021 and attracted about 86% of users for that from the US.”
Funstop will continue to focus on scaling in the global games market because of such strong response. However, Vijay also expects the Indian gaming market to start maturing in two years from now.
He said the Indian user base stands at 40% for Funstop’s second game, Airport Rush.
Vijay said Funstop is already working on new products, which are currently in the testing stage, and will soon be launched.
The cofounder also said that Funstop has been profitable for some time now and doesn’t intend to go for another funding round at least in the next one year.
The development comes at a time when the Indian gaming market is expanding rapidly. According to an IMARC study, the Indian mobile gaming market had a size of $2.2 Bn in 2022 and is expected to grow to $5.9 Bn by 2028, clocking a CAGR of 18.9% during 2023-2028.
As a result, a number of gaming studios and startups have grabbed the interest of investors. Last month, gaming studio QuriousBit raised $2 Mn in a seed funding round led by gaming-focused venture capital firm Lumikai to make innovative puzzle games for the global audience from India.
Besides, Indian startups are also making investments not only for the domestic market but also global. Earlier this month, gaming startup WinZO announced its plans to go global by entering into the Brazilian market. It said it plans to invest about $25 Mn to accelerate growth opportunities for the export of computing, technology, and consumer tech from India.
The post Casual Gaming Studio Funstop Games Bags Funding From InfoEdge Ventures appeared first on Inc42 Media.
