Funstop Games, the India-based game developer behind Apple App Store and Google Play hits Pitstop Manager, Airport Rush 3D and Perfect Time, has raised $1.5 million in funding from InfoEdge Ventures.
Funstop is based in Gurugram in the northern Indian state of Haryana and was founded by Prashanth Vijay [left] and Tamesh Sharma [right] with figures placing its titles at over over 50 million downloads and counting, with those games producing over $4 million in revenue so far.
The company is planning to use this new investment to expand its game development and ad tech capabilities to strengthen its current portfolio of games.
Indian investors InfoEdge was founded in the early 2000s by Sanjeev Bikhchandani. Early investments include Indian companies such as Zomato and PolicyBazaar and the company has partnered with over 60 early-stage start-ups as part of India’s ongoing tech boom.
“The evolving gaming landscape demands high-quality games with engaging gameplay and design. InfoEdge Ventures’ investment provides the capital to develop IPs with longer revenue streams, validating our belief in the combination of data and design,” said Prashanth, co-founder of Funstop Games.
Commenting on the investment, Chinmaya Sharma, partner at InfoEdge Ventures, said: “We are convinced that design + data = good games. At Funstop, too, it was the combination of Tamesh's sense of design and gameplay and Prashanth’s understanding of data that made us strong believers in them.”
Yesterday we saw India's Nazara Technologies expanding into publishing in order to better support local and international developers.