Mumbai, 25th March 2013: Games2win India Private Ltd announced a successful raise of an additional round of funding of approximately 2 million US$ (Rs. 10 crores) from Clearstone Venture Partners USA.
This is Games2win’s third successful financing round in addition to a secondary sale of its shares to new investors last year.
Alok Kejriwal – Co-Founder and CEO of games2win said, “We are very fortunate to have Clearstone as our lead and initial investor. Clearstone has constantly contributed and supported our financing efforts over the past five years and its management team led by SumantMandal truly understand our business, our ambitions, our goals and the massive opportunity available in the global gaming market.”
Games2win has metamorphosed into a gigantic casual games business, operating across a global footprint, leveraging its own IP. The businesshas clocked 30 million game downloads across the iTunes and Android platforms in just one year. Two of its games – Parking Frenzy and Super Mom have topped the global app charts. Itsmobile games constantly feature amongst the top paid apps on the USA Amazon Kindle store. The Company entertains over 20 million monthly consumers across our mobile and web properties. Games2winowns 800 proprietary, casualgames that are being swiftly transformed into delightful entertainment products across all relevant mobile platforms.
The latest round of financing is to be used by Games2win for games acquisition and international team building. Given that Games2win has a direct to consumer network growing 20% month on month, it now want to leverage the opportunity to feed its network with best of breed titles (made in house and also acquired from the market). Games2win hasreached the size and gravity to generate downloads without any marketing. It has the consumers, the market share and the velocity to become a leading player global entertainment Company, and the first of its kind to ever come out of India!”
SumantMandal – Managing Director of Clearstone said, “I have been very close to Games2win and know Alok and Mahesh Khambadkone (COO and Co-Founder) very well. Games2win is uniquely positioned to leverage its games studios in India, its massive and constantly expanding content library and the booming mobile market to create a very significant and valuable globally relevant entertainment giant. Clearstone and I fully believe in the games2win business plan and fully support it.”
Games2win is headquartered in Mumbai, with a presence in San Francisco. The Company employs over 100 people and is ranked amongst the top 20 global games Companies on comScore. The Company’s other investors include Silicon Valley Bank, Nirvana Digital India Fund, Nexus Venture Partners and ICICI Ventures.
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