Cloud gaming company The Gaming Project on Thursday stated it has secured $500,000 in a seed investment spherical led via way of means of Faad Network.
The fundraise additionally noticed participation from Upsparks, BlackKite, SucSEED Indovation Fund, MaGEHold and Hem Angels, amongst others.
The platform plans to apply the clean cash to extend its offerings throughout India and platforms.
Founded via way of means of Manan Mittal and Sarang Atri, The Gaming Project went stay in 2020. Since then, it has onboarded over 300,000 customers at the platform and claims to have a consistent sales month-on-month.
The Gaming Project is stated to be India’s first cloud gaming platform.
Cloud gaming is a shape of on line gaming in which the sport runs on faraway servers. The Gaming Project is democratizing get admission to to AAA or video video games with its cloud gaming platform that lets in customers to play such video games on mobiles and laptops.
The time period AAA video games is a class used withinside the video gaming enterprise to suggest high-budget, high-profile video games which might be commonly produced and dispensed via way of means of large, famous publishers.
“Our complete aim up till our first improve become to make certain we spend as few sources as viable, however on the identical time obtain a product marketplace match this is preferred via way of means of every body withinside the gaming network and in fact solution the query of whether or not cloud gaming is viable in India or not,” stated Atri, co-founder, The Gaming Project.
“Ever because the inception of our project, the inevitable query that continually got here up become whether or not the net infrastructure become succesful sufficient for this technology. Our clients responded that query for us, via way of means of sticking with us and presenting their optimistic remarks that during flip helped us enhance our tech due to the fact our inception,” stated Manan Mittal, co-founder and tech lead, The Gaming Company.
“With over a hundred million on line gamers, India on my own is a two-billion-greenback marketplace possibility for the eSports enterprise. This marketplace might be in addition prolonged if there’s an answer constructed for easy streaming with out shopping for any high-priced gaming rig. This is in which our idea college aligned with what Sarang and Manan are constructing at The Gaming Project,” stated Aditya Arora, leader government officer, Faad Network.
“We as an agency are centered at the trending and developing domains, and the gaming enterprise is evolving exponentially. AAA video games will growth the present gaming enterprise via way of means of billions. This is an crucial enterprise to be a component of. The group of The Gaming Project could be very committed and has the imaginative and prescient of a way to lead the enterprise to new heights…,” stated Mohamad Faraz, founding partner, Upsparks.
Faad Network is a region agnostic early-level investor community which invests in pre-seed to Series A startups with a price price tag length of $50,000-$1 million. It has invested in greater than forty five startups so far, and 90% of its portfolios were introduced put up pandemic.
The funding community’s bets consist of SupplyNote, The New Shop, The Hosteller, BluSmart, Hesa and kwh Bikes.
Gaming startups in India have attracted offers worth $1.6 billion withinside the first 9 months of 2021, exceeding the overall fee of investments withinside the region withinside the ultimate 5 years, as in keeping with a record via way of means of funding banking platform Maple Capital Advisors.01