With $15 Mn Funding, Octro Looks For a Bigger Play in Casual Gaming
Mobile gaming company Octro raised $15 mn from Sequoia Capital in Series A funding yesterday. The company has created successful games like Teen Patti and Indian Rummy.
We’ve seen the Indian gaming scene pick up with lower entry barriers and better access to the western market which is easier to monetize.
Octro, is different. The company wants to target the Indian market. Here’s a quick Q&A with Saurabh Aggarwal the CEO of Octro.
What are your future plans? Immediate goals?
We plan to grow the company and consolidate our position as the number 1 gaming company in India. Our immediate goal is to expand our team. Currently we are about 25 employees and we aim to double our headcount over the next six months or so.
Total number of daily & monthly active users, breakup across games & platforms.
We do not have a breakup of customers per se; however a majority of our customers are on the Android platform. We continue to witness over 2Mn daily active users.
Why did it take so long for you to raise series A?
We started looking to raise capital only very recently as we wanted to gain some traction prior to doing so.
Future of casual gaming, especially from an Indian pov.
With the number of smartphone users in India expected to cross 500Mn in the next 5 years, the future is very bright for casual gaming. Games are generally the first apps that a new smartphone user takes to.
What is your primary market– US/ UK or India? Why?
We are primarily targeting India as our key market. We live here, and are very excited to connect with people here. Moreover, we are reimagining games that have existed in our society for years and making them available on the mobile for people to play anytime, anywhere.
Challenges in India?
Traditionally monetisation has been a challenge in the Indian market. However, we are trying to break that notion, and show to the world that there is a demand for great apps and customers are willing to pay for superior experiences by unlocking additional features.