The gaming startup GameEon Studios will use this funding to establish a strong publication distribution network & to hire senior talents which will give international standards to their upcoming PC games.
An early stage startup venture investment firm Mumbai Angel Network, on Thursday said it has invested $320K in a gaming platform, GameEon Studios.
Recently, gaming startup GameEon Studios announced that it is developing an open world game in Mumbai titled ‘Mumbai Gullies’.
On the funding Nikhil Malankar, Founder of GameEon Studios, said, “We are building a revolutionary company in the gaming industry and accurately positioning we ensure maximum growth in upcoming years, to document the growth journey of GameEon Studios for my entire team I’ll publish the updates on my personal YouTube channel, ”.
Adding further on scalability he added, “We have a successful relationship with our existing distributors for games and a mentor like investor Mumbai Angels Network backing us in the journey. We have the confidence to scale and use the funding in expanding and tapping international and domestic markets and increase our user base. The core idea behind is to increase our revenue stream that will support our development costs and maintenance for our high-quality games”.
GameEon Studios founded by a popular YouTuber Nikhil Malankar in 2013, claims to have a rapidly growing user base, also has a strong social media presence, which he leverages to build the company further.
The startup company GameEon Studios has built 150+ games up till now, with the mix of its own games and developing client’s games, which makes them a pioneer in the gaming industries.
“India’s gaming industry has been growing at a CAGR of 18.6 percent and is estimated to reach $2 billion by 2023. There has been a massive spike in the consumption of gaming content in recent times, which has led to the industry gaining immense traction. We have seen the kind of revolutionary changes that GameEon is bringing to the industry,” said Nandini Mansinghka, Co-founder and CEO, Mumbai Angels Network.
“The potential in the Indian gaming industry is unparalleled and is yet to be explored. GameEon’s vision and product align with global standards, which will give the company a good head start in the Indian market,” said Jatin Aneja, National Project Head at Shardul Amarchand Mangaldas & Co., and Deal Lead for GameEon.