The funding is led by Sauce.vc, along with Sharrp Ventures and Panthera Peak Capital
The startup plans to use the fresh capital to expand its team, boost research and development, growth and brand building
Founded in 2021 by Prince Thomas, Ranjit Kumar Behera and Ajith Sunny in Bengaluru, the company offers cricket console-like games
Gaming startup Metashot has raised INR 11 Cr (nearly $ 1.2 Mn) in seed funding round led by Sauce.vc, along with Sharrp Ventures and Panthera Peak Capital.
The startup plans to use the fresh capital to expand its team, boost research and development, growth and brand building.
Founded in 2021 by Prince Thomas, Ranjit Kumar Behera and Ajith Sunny in Bengaluru, the company offers cricket console-like games. The company claims to transform the gaming industry by bringing the console-gaming experience to a wider audience.
“Our vision for MetaShot is to become a platform that offers a diverse range of games, seamlessly merging the physical and virtual world. We thank Sauce.vc, Sharrp Ventures and Panthera Peak Capital for their confidence and commitment to supporting our vision and growth,” said Thomas.
The startup has expanded into the Middle East and plans to explore the US market. The company is also projecting to grow 5X in revenue from the last financial year.
“We’ve already seen over 8 lakh matches on MetaShot in the short span of our journey, validating the customers interest in this unique metaphysical play,” Thomas added.
MetaShot was also part of the Shark Tank India Season 4.
The development comes at a time when the country’s gaming industry is flourishing after witnessing increasing interest from GenZ and investors. In November last year, gaming major Nazara Technologies and Zerodha cofounder Nikhil Kamath’s WTFund have jointly committed a total investment of INR 2 Cr in two gaming startups- Norian Games and Xigma Games.
In the same month, gaming studio Funstop Games raised $5 Mn in its Series A funding round, led by 360 ONE Asset. Existing investor InfoEdge Ventures also participated in the funding round.
Further, Decentralised gamer network KGeN (Kratos Gamer Network) also raised $10 Mn (INR 84.4 Cr) in a funding round led by blockchain developer AptosLabs in November.