Delhi based mobile gaming startup Octro has raised $15 Mn in Series A funding round led by Sequoia Capital.
2 million DAU – Congratulations Team Octro. 10 million not that far 😉
— Saurabh Aggarwal (@aggarwalsaurabh) March 2, 2014
Octro was founded in 2006 by Saurabh Aggarwal and is behind the popular games like Teen Patti and Indian Rummy. Octro has been under the top five downloaded games across multiple categories on Google Play and has daily active user base of 2 Mn.
According to Avendus Capital Mobile games and apps are together estimated to become a Rs 2,700 Cr opportunity by 2016 and 25-30% of time spent on ad-supported traffic is on games in India, which showcases a huge opportunity in this segment.
A few other players in the mobile gaming in India include Nazara, Disney UTV, Hungama and Zapak. Earlier this year, GSN Games had acquired Bangalore based Bash Gaming for about $160 Mn.
Octro is the second venture of Saurabh Aggarwal, earlier he had founded PDAapps, the creator of VeriChat, a mobile IM solution which was acquired by Intellisync in 2005.