Mumbai Angels, Blume Ventures invest into Rolocule Games
Rolocule Games, the game development studio known for creating casual and social video games for tablets and smartphones has closed its angel round of funding. The investment for an undisclosed amount was led by Mumbai Angels, along with Blume Ventures and other angel investors. As a part of the deal Ajeet Khurana, a serial entrepreneur and active Mumbai Angels investor, would join the board of Rolocule Games.
The 3 year old company had earlier received seed fund from Centre of Innovation Incubation and Entrepreneurship, IIM Ahmadabad. The investment will be used to scale up operations, hiring and product development. Speaking to PluGGd, Anuj Tandon, Co-founder and COO of Rolocule Games said, “Post investment we plan to increase our team size approximately from 7 to 15 by the end of this year. We also plan to use the funds to increase our game marketing reach.”
Post investment the company’s business model will also see a stark change. While they charge a premium and offer their games for $2-5 currently, in the new scenario they plan to offer free-to-play games for their users. The company will also heavily focus on social games to increase user engagement. At present the games made by Rolocule are iOS based and they now intent to focus on Android development as well.
With a strong portfolio of games clocking more than 1.5 million downloads in more than 100 countries, developed using company’s own proprietary game engine, Rolocule aims to entertain the world through interactive games that ‘everyone can play’. Its popular game ‘Flick Tennis: College Wars’ won the People’s Choice Award at the 8th International Mobile Gaming Awards (IMGA) in Barcelona in March 2012, followed by ‘Super Badminton’ and ‘Touch Squash’.
The gaming industry is growing at a considerable rate - pegged at CAGR of 53 per cent. In fact the sector is attracting apposite investments. A few months ago Nirvana Venture Advisors had invested in Games2Win by acquiring 10 per cent stake in the company. A year back the company had raised $6mn funding Series B investment round from Clearstone Venture Partners and Silicon Valley Bank (SVB India Capital Partners). Also Gamiana has received a $1million investment from Indian Angel Network in February this year. Ij July last year Singapore based TheMobileGamer received series-A funding of S$1 Million from One97 Communications of India. And there are many more. Gaming is the present and the future of digital entertainment, and Rolocule with their game development capabilities has the potential to become one of the leading gaming companies out of India. If you’ve played their games please share your feedback.