Funstop Games raises $5 million in its Series A funding
casual gaming studio Funstop Games on Tuesday said it has raised $5 million in its Series A funding, in a round led by 360 ONE Asset alongside InfoEdge Ventures, which has doubled down on its previous round.
“Our decision to double down on our investment in Funstop Games reflects our confidence in the founders and their continued ability to churn out viral titles even as they have transitioned to a self-publishing model," Chinmaya Sharma, Partner, InfoEdge Ventures said in a statement. «We are excited to see the adoption of Funstop’s games not just by Indians in India but by the larger Indian diaspora overseas as well.”
The company said the funds will be used to ramp up Funstop’s game development efforts, build its ad-tech capabilities, and grow its portfolio of games. This is in line with its vision of expanding its presence in the casual gaming sector and creating new titles.
“With 360 ONE Asset coming onboard, we aim to be truly global with rapid expansion across the genres and doubling down on the India growth story," Prashanth Vijay, Co-founder of Funstop Games said. «The 360 ONE Asset team would bring in a depth understanding about the gaming ecosystem, a playbook on global expansion and most importantly the know-how on scaling up rapidly, making them ideal partners for us at this stage.”
Funstop's claimed that its popular Shri Ram Mandir Game has clocked over 25 million downloads and created a new category of what it termed 'spiritual gaming.'
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