Mobile gaming firm Octro raises $15 mn from Sequoia Capital
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Bangalore: Indian mobile games start-up Octro Inc. said on Wednesday that it had raised series A funding of $15 million from Sequoia Capital to continue developing traditional Indian games on the mobile platform.
The Delhi-based company’s portfolio of traditional games Teen Patti and Rummy—both card games—have become among the most downloaded games in multiple categories on Google Play.
“Our games just work. The key to our success has been our robust technology platform that allows for fast gameplay. People simply love our games because we are re-imagining games that have existed in the offline world for years and making them available on the mobile for people to play anytime, anywhere,” said Saurabh Aggarwal, CEO, Octro.
Along with the announcement on funding, Octro on Wednesday launched Tambola, a group player game similar to Housie.
“Indian games such as Tambola, Teen Patti and Rummy have been a part of people’s lives for years. Octro has made these culturally relevant games come to life on the mobile. We look forward to working closely with the team and leveraging our network to help the company scale greater heights,” said Mohit Bhatnagar, managing director, Sequoia Capital.
A recent report by research firm Avendus Capital said the mobile games and applications market in India is expected to reach $450 million by 2016. This will be driven by a surge in the number of Indian smartphone users, from 67 million users this year to 382 million in 2016, the report said.