Bengaluru-based casual gaming startup Giga Fun Studios has raised $2.4 Mn in its seed round led by Lumikai and Fireside Ventures. All In Capital, Kettleborough VC and Riverwalk Holdings also participated in this round.
The company will use the funds to create casual games for Indian and global audiences and a hub for casual game developers, Giga Fun said in a press statement.
Founded by Krishnendu Mukherjee, Rahul Daga and Rahul Shekhar, Giga Fun Studios designs games with geo accessibility across the full game stack, including simple but compelling game loops, customised UI/UX design for domestic gamers with accessible pricing, and distribution via third party app stores.
Lumikai, which is India’s first dedicated games and interactive media VC, has backed some of India’s games companies including Bombay Play (building global hypersocial, cross-platform games), Loco (India’s leading game streaming platform), and Elo Elo (creator-led, social gaming, live streaming platform) amongst others.
Fireside Ventures with the close of its Fund III is currently managing Rs 3,000 crore ($395 million) of AUM with investments across digital-first consumer brands in sectors such as health and wellness, food and beverages, beauty and personal care, nutraceuticals, lifestyle and home products, among others.
Indian startups in the gaming space raised $262 million in 2022 across 27 deals, according to Fintrackr’s yearly funding report.
