Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
2014-06-04

Mobile gaming start-up Octro raises $15 million from Sequoia Capital

Mobile gaming company, Octro is raising $15 million from Sequoia Capital India. The stake to be divested is not disclosed, however reports peg the valuation to be around $70 million.

Mobile gaming company, Octro is raising $15 million from Sequoia Capital India. The stake to be divested is not disclosed, however reports peg the valuation to be around $70 million.

 

Based out of Noida, Octro was founded in 2006 and is today pegged to be the number one mobile gaming company in India with two of its games, Teen Patti and Rummy, among the top 5 games in multiple categories on Google Play Store.

 

Proceeds from the latest round will be used to expand into other geographies as well as to add new titles in the pipeline. A part of the funding will be also deployed to increase its existing team strength.

 

Founded in 2006 by Saurabh Aggarwal, Octro’s mobile games are amongst the top ten apps on both Android and Apple's iOS store in India. It allows users to download the games for free and charge them to buy virtual goods for the games.

 

Our games just work! The key to our success has been our robust technology platform that allows for fast gameplay. People simply love our games because we are reimagining games that have existed in the offline world for years and making them available on the mobile for people to play anytime, anywhere, ” said Saurabh Aggarwal, Founder & CEO, Octro.

 

This is the first investment made by Sequoia Capital into gaming sector. Sequoia Capital in India currently manages funds capitalised close to $1.4 billion and invests across early, growth and late stage opportunities. According to experts, mobile games and applications in India are expected to reach Rs 27000 million market by 2016.

Related opportunities
  • Lighting, Electrical & Plumbing
    Mainframe Energy Solutions Pvt. Ltd. would like to introduce our..
    Locations looking for expansion New Delhi
    Establishment year 2013
    Franchising Launch Date 2013
    Investment size Rs. 2lac - 5lac
    Space required 500 - 1000 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Central Delhi New Delhi
  • Chocolate Stores
    Zest Blessed Chocolates is a promising brand that is driven..
    Locations looking for expansion Maharashtra
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 50 - 800 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Finance Advisors & Brokers
    Great chance to join hands with SMC GLOBAL SECURITIES LTD..
    Locations looking for expansion New Delhi
    Establishment year 1990
    Franchising Launch Date 1998
    Investment size Rs. 2lac - 5lac
    Space required 250 -500 sq feet
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Central Delhi New Delhi
  • About: Establishedin1991,ZuhanaExportersPrivateLimitedhavebeenintheforefrontofthegarmentexportingfr..
    Locations looking for expansion Tamil nadu
    Establishment year 1991
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chennai Tamil nadu
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities