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Sequoia invests $15 million in Indian mobile game outfit Octro

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Sequoia invests $15 million in Indian mobile game outfit Octro
Date Type Companies Involved Size
Jun 5, 2014 investment Octro Sequoia Capital $15m
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In a surprising move, US VC Sequoia Capital has invested $15 million in Indian mobile game developer Octro.

Best known for its outsourcing capabilities, the Indian development market is considered to be nascent, making this $15 million deal a wake up call for the wider ecosystem.

Octro has found success in the Indian market with the local equivalent of social casino games such as Teen Patti (Indian Poker) and Tambola (Indian Bingo).

It's particularly focuses on real-time multiplayer features.

"Indian games like Tambola, Teen Patti and Rummy have been a part of people's lives for years. Octro has made these culturally relevant games come to life on the mobile. We look forward to working closely with the team and leveraging our network to help the company scale greater heights," said Sequoia Capital's MD Mohit Bhatnagar.

[source: TechCrunch]