[Funding alert] F2P mobile game studio LILA Games raises $10M in Series A led by Rainfall Ventures
Bengaluru-based F2P mobile game studio Rainfall Ventures. It also saw participation from Bitkraft Ventures, Galaxy Interactive, Sequoia Capital India, and .on Wednesday announced a $10 million Series A funding round led by
Besides, angel investors, including Ryan Wyatt (CEO of Polygon Studios), Tanay Tayal (Co-founder and CEO of Moonfrog Labs), and Thomas Vu (Producer of Arcane: League of Legends), also participated.
According to a statement, LILA Games will use the fresh investment to develop its first F2P shooter game title, with deep social hooks, and build its Bengaluru-based team.
Speaking on the funding, Joseph Kim, CEO of LILA Games, said,
“LILA Games aspires to build a different kind of organisation with a culture that enables learning, focuses as much on organisational improvement and product improvement, and provides equal opportunities. We strongly believe 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.”
Founded in 2020 by Joseph Kim, Paul Leydon, and Avinash Pandey, the mobile gaming studio seeks to build highly emotional game products. It is on a mission to create a new kind of organisation focused on creating opportunities for people to become their absolute best. At present, it is working on a unique FPS shooter title.
LILA Games' founders have collectively developed multiple top-grossing mobile games that have amassed hundreds of millions of players.
In November 2020, the gaming startup secured $2.8 million in its seed round to expand its hiring and establish its studio in India.
“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. 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,” commented Jens Hilgers, Founding General Partner at BITKRAFT Ventures.