Karnataka-based mobile app developer, Robosoft Technologies Pvt Ltd, has raised $12 Mn in Series B round of funding from Ascent Capital. Robosoft is a third party mobile app developer and also publisher of its own mobile games.
As per the reports, Multi-stage investor Ascent Capital has invested $10 Mn, while Kalaari Capital put in the rest. Kalaari had also invested $4 Mn in Robosoft in its Series A round two years ago.
The company will utilize the fresh funding to restructure itself into three separate companies with 99Games and Global Delight being hived off, however the deal structuring yet remains undisclosed. Besides, it also plans to build near-shore capability in the US, Europe and Middle East with these investments.
Speaking on this development, Rohith Bhat, CEO & managing director, Robosoft Technologies, said, “It will help us invest in products drive user acquisition and double down on our offerings. While the company has been traditionally strong in consumer mobility and gaming, we intend to strengthen our enterprise mobility practice too.”
The startup is also looking to go beyond expanding to the Android platform, user acquisition and taking its current crop of products to the next level in innovation.
Started as a games developer for desktops in 1996, Robosoft has three business lines. While the main company is a third party designer and developer of apps, its unit 99Games is a developer of mobile games which has published its own games like Star Chef and as well as licensed products like mobile game for Dhoom 3. The other business Global Delight is into audio & video domain apps.
As per the report, on year ending March 31st, 2014, all three firms combining had revenues of INR 30 Cr. but also had a net loss of INR 24.3 Cr.( most of which were generated by Robosoft).
The company currently has 450 professional employees, with majority of them in Udupi, Karnataka.
Meanwhile Raja Kumar, founder & managing director, Ascent Capital, said, “Clearly going forward, mobility will redefine the way we work and play.”
The company also said that 99Games will be expanding on its two-pronged strategy: building games through licensed IPs (largely for the Indian market) and creating its own IPs for a global audience.
It also states that the immediate focus would be around driving user-acquisition focused marketing campaigns for Star Chef, the latest hit game from 99Games. Star Chef is growing over 30% month-on-month in terms of monthly active users as well as monetisation.
99Games has developed 15 games till now (including licensed IP franchise Dhoom 3) which has 5 Mn+ downloads on Android with 500,000 paid downloads and 20 Mn free downloads. Whereas, Global Delight, the third business, basically developed products such as Camera Plus (over 27 Mn downloads), Game Your Video and Boom (a system-wide audio enhancer for Mac).