Gaming startup Mech Mocha raises $5M in Series-A funding
Mobile gaming startup Mech Mocha has raised $5 million from Accel Partners, Shunwei Capital., and existing investor Blume Ventures. The Bangalore-based company has stated that they will invest in developing new mobile games in casual and mid-core categories.
Tuck Lye Koh, Founding Partner & CEO, Shunwei Capital, said in a statement: “The Indian mobile gaming sector is growing at a fast pace and holds great opportunity. Mech Mocha has taken the lead in this space and we are happy to be a part of their growth journey. We hope to share our experience in China and use it to create new opportunities for Mech Mocha in India.”
China-based Shunwei Capital is bullish on early to growth-stage investments in mobile Internet, fintech, edtech, AI and IoT sectors. In India, they have also invested in pre-owned cars’ marketplace Truebil. Accel Partners have earlier invested in global leaders in gaming Rovio of ‘Angry Birds’ fame and Supercell of ‘Clash of Clans’.
Founded in 2014 by three IIITM Gwalior alumni--Arpita Kapoor, Mohit Rangaraju and Shilp Gupta--the company was part of the iAccelerator batch. In early 2014, they raised funding from angel investors including Devendra Parulekar, partner at Ernst & Young; Sanjay Mehta, member of both Indian Angel Network and Mumbai Angels; and Ravi Trivedi, founder of Srijan Capital. In December 2015, Mech Mocha raised $1 million in seed funding from Blume Ventures and e-commerce market leader Flipkart.
A statement from Mech Mocha has stated that they are exploring partnerships with global gaming companies to release their blockbuster gaming titles in India. “Mech Mocha is leveraging its Indian market insights and in-house technology platform to culturalise narratives and customise gameplay for Indian audience. The start-up continues to heavily invest in an integrated technology platform with cutting-edge capabilities in behavioural analytics, multiplayer, LiveOps and monetisation,” it adds.
Led by MoonFrog labs which is backed by Sequoia Capital and Tiger Global, the Indian gaming sector has been rising, with a number of startups coming up in the space, and investments flowing into them. Recently, Japan-based investor Dream Incubator, along with Kalaari Capital and Ascent Capital, had invested in 99Games Online, while SAIF Printers and IDG Ventures invested $4 million in PlaySimple Games.