India-based Lila Games has revealed that it has closed its Series A financing round, raising $10 million.

Leading the round was Rainfall, with other participants including Bitkraft Venture, Galaxy Interactive, Sequoia Capital, and Krafton. Polygon Studios CEO Ryan Wyatt, Moonfrog Labs co-founder and CEO Tanay Tayal, and Arcane: League of Legends producer Thomas Vu participated as angel investors.

A studio developing F2P mobile games, Lila Games intends to use the investment to build its team and develop its first title, a shooter with strong social elements.

"Lila Games aspires to build a different kind of organisation with a culture that enables learning, focuses as much on organizational improvement as well as product improvement, and provides equal opportunities," said Lila Games CEO Joseph Kim.

"We strongly believe that the emergence of India as an upcoming global leader in gaming, and its potential to develop best-in-class talent in the F2P gaming industry will give us long-term structural advantage."

Redefining the genre

Lila Games was founded by Joseph Kim, Paul Leydon and Avinash Pandey. In its 2020 seed funding round the company received $2.8 million with an investment led by Bitkraft Ventures, who also participated in this Series A round.

Bitkraft Ventures founding general partner Jens Hilgers added: "Very rarely have I seen a team that is so obsessed with building a company around a vision with culture first and a level of executional excellence that stands best in class. Our confidence in Lila Games’ vision is unchanged but our confidence in the team has only been growing ever since we led the seed round early last year."

"Lila’s first game 'Black' will redefine the mobile shooter genre, which I can say with certainty and excitement while I witness the game coming together."

Lisbon-based Volt Games recently raised $1.5 million from its seed round led by hypercasual powerhouse Voodoo.