Gaming studio Funstop Games has bagged $1.5 million during its seed funding round. Industry veteran InfoEdge Ventures led the capital round. The studio focuses on casual games that can be anyone can enjoy in their free time.
Co-founder of Funstop, Prashanth Vijay said, “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.”
Prashanth Vijay and Tamesh Sharma, back in 2020, founded the gaming studio. The Gurugram-based startup focuses majorly on casual mobile game development. However, in future, the firm plans to create fun and engaging games for a larger audience, as per Silicon India.
Prashanth Vijay, on securing the round, said, “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.”
Design + data = good games: InfoEdge Ventures
Chinmaya Sharma, partner at InfoEdge Ventures, also spoke on the matter saying, “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.”
Furthermore, the company plans to use the funding towards expanding game development environment. It also aims to acquire new tech to further create newer games and expand the company’s portfolio.
The company has amassed over 50 million downloads and generated over $4 million in revenue ever since. Two of the most popular games by the studio are ‘Airport Rush 3D’ and ‘Perfect Time’.
With real money gaming sector now facing increased tax burden which is ultimately affecting the players. Meanwhile, video gaming companies are utilizing the opportunity to scale their business and get access to larger market share.
Despite the increased tax rate on the sector, it is believed that Indian gaming market will see a significant growth. As per a report by e4m, the Indian gaming sector will reach $8.6 billion in FY27, up from $2.6 billion in FY22.