2015-01-03

Mobile gaming startup PlaySimple secures seed funding from IDG Ventures, angel investors

The investment received will be utilised to build a portfolio of mobile casual games targeting the global markets.

Mobile gaming startup PlaySimple secures seed funding from IDG Ventures, angel investors

PlaySimple, a new generation mobile social gaming company, has raised a seed round of funding from IDG Ventures India. Yezdi Lashkari, former GM, Zynga, participated as an angel investor as part of the round. The investment received will be utilised to build a portfolio of mobile casual games targeting the global markets.

PlaySimple is on a mission to create engaging mobile products to connect people. The founding team comprises of Siddharth Jain, Preeti Reddy, Suraj Nalin and Siddhanth Jain. The team comes with rich experience in the gaming and software engineering space having worked in senior engineering/product positions at companies like Zynga, Bain, Walmart Labs & Yahoo. At Zynga, the founders have led live games like Mafia Wars, Bubble Safari and have delivered many innovations around gameplay, engagement and analytics.

Karthik Prabhakar from IDG Ventures India Advisors has joined the Board of Directors of PlaySimple. With respect to the IDGVI funding, Siddharth Jain, Founder, PlaySimple added, “Our vision is to build a world class mobile entertainment company out of India. We believe that there is a huge opportunity out there and now is a great time to go after it. With IDG Ventures India as our partner, we’re driving towards some exciting game releases over the coming months.”

Karthik Prabhakar, IDG Ventures India Advisors, said, “Globally, mobile gaming is a very large, growing market. Gaming is a hits business, but the ones that succeed do take off rapidly towards profitable growth in a short period of time. IDG has built a successful portfolio of gaming investments in the US in companies such as Funzio. The team at PlaySimple is young and highly experienced in building/scaling mobile games for the global markets and this investment is part of the IDGVI Seed Program”

PlaySimple has already released a game title, GuessUp, which has received excellent early traction. The company is targeting to release multiple games in the market over the next few months in early 2015 before they start raising a next round of capital.

Related opportunities
  • AHOY! Bikes (Mitras Group) has been serving the bicycle industry..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2020
    Investment size Rs. 20lakh - 30lakh
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi Delhi
  • Bars, Pubs & Lounge
    Kadak Brewpub is the first craft beer brand with its..
    Locations looking for expansion Maharashtra
    Establishment year 2020
    Franchising Launch Date 2023
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Kalyan Maharashtra
  • Casual Dine Restaurants
    UNLIMITED PIZZAS FOR PIZZA LOVERS For whom pizza is bae, Uncle..
    Locations looking for expansion Gujarat
    Establishment year 2011
    Franchising Launch Date 2023
    Investment size Rs. 50lakh - 1 Cr.
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Bricks & Cement & Sand Supplies
    Easy Build is a Meta commerce platform for Building Material..
    Locations looking for expansion Uttar pradesh
    Establishment year 2023
    Franchising Launch Date 2023
    Investment size Rs. 30lakh - 50lakh
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bishrakh Uttar pradesh
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads