Loading ...Gaming Start Up Gets Angel Funding From Indian Angel Network
The Indian Angel Network has invested under $1 million in a Mumbai based gaming start up Gamiana, the IAN said in a statement on Wednesday.
The company is to use the funding to fuel its growth over the coming few quarters, focusing on growing its customer base, enhancing gaming software development for its existing games and bidding for new gaming contracts in overseas markets.
Vishal Golia, co-founder of Gamiana says that the company “will now be able to leverage the global presence, market insights and network of IAN’s global members to fuel its growth.” IAN member Chetan Shah will now be on the board of Gamiana.
Shah said that the passion and domain expertise of the founders has helped build his confidence in the venture.
Gamiana offers multi-player platforms and the ability to play games real time. The company currently has two games Jamia Online and Vinashi. It aims to become a dominant player in India by tapping the expected increase in internet usage on smart phones.
The company is focused on many developing markets like Brazil, Turkey, and the Philippines.
According to PricewaterhouseCoopers’s Global entertainment and media outlook, the global video game industry was a $75 billion industry in 2011 and is estimated to grow to $90 billion by financial year 2013.
The IAN currently has a base of 200 angels and has invested in 11 ventures in the last one year.
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