Startup news and updates: daily roundup (July 26, 2024)

Funding

Mayhem Studios secures undisclosed funding from Lumikai

Mayhem Studios, a developer of AAA mobile games, has secured undisclosed investment from Lumikai, a media and gaming focused venture fund.

The Bengaluru-based firm will use this fresh capital to scale its operations, accelerate game development, expand its team of talented developers, and enhance technological capabilities.

Mayhem Studios’ existing investors include Peak XV Partners, Steadview Capital, Truecaller, Hashed Emergent, Base Partners, and Moore Strategic.

The game developer is currently building its flagship title, Underworld Gang Wars (UGW), a AAA battle royale game with a distinctly Indian flavour. The game integrates Indian culture and aesthetics into the gameplay. Mayhem Studios has exited the closed beta for the game in May this year and is gearing up for open beta.

“Their vision for a truly Indian experience and building world class gaming IPs out of India aligns perfectly with our belief in the potential of India's video gaming industry to captivate global audiences. We're excited to fuel their journey and bring a truly promising project to life,” said Salone Sehgal, Founding General Partner, Lumikai.

Other news

KRAFTON India partners with Paralympic Committee of India for Paris Paralympics 2024

KRAFTON India has partnered with the Paralympic Committee of India for the upcoming Paris Paralympics 2024 scheduled to take place from August 28 to September 8, 2024.

In this partnership, KRAFTON India will sponsor training kits, bags and caps for the Indian team participating in the Paris Paralympics. 

“The support from KRAFTON is a significant boost for our athletes as they gear up for the Paris Paralympics. We are grateful to KRAFTON for their commitment to Indian sports and for believing in the potential of our Paralympians,” said Devendra, President, Paralympic Committee of India.

KRAFTON India has previously supported Indian sports talent through collaborations with Olympic gold medalist Neeraj Chopra and a donation of Rs 25 lakhs to the Abhinav Bindra Foundation, supporting India’s ace shooter’s initiative to ensure access to sporting best practices to athletes.

CIEL HR Services appoints five Independent Directors to its Board

CIEL HR Services has announced the appointments of five Independent Directors to its Board as part of its pre-IPO plans. 

The company has appointed NT Arun Kumar, Lilian Jessie Paul, Chandu Nair, Roopa Satish, and Ipsita Kathuria as Independent Directors on its Board. 

They will oversee the growth plans of the company and offer strategic guidance in various areas including emerging areas of technology such as AI, machine learning, HR practices, environment, social and governance, marketing, finance and operations.

“As we are in the cusp of the most significant phase of strategic expansion plans and high growth trajectory, the appointment of these veterans with their impeccable track record and dynamic leadership is bound to have a transformational impact for the brand,” K. Pandiarajan, Executive Chairman, CIEL HR Group said.

(This article will be updated with the latest news throughout the day.)