In one of the recent fundraising event, mobile gaming startup platform PlaySimple has raised more than 4 million USD through the help of existing capitalists such as IDG Ventures India Investments and SAIF Partners. The respective event was done under Series A funding which would help in expanding the team in the near future.

playsimple-raises-fund-4-million-usd-from-vc

The Bengaluru-based mobile social gaming company secured the deal from the venture capitalists firms so as to infuse the fresh funds in business expansion, marketing as well as putting in research and development segment. It will eventually target the global audience by bringing up new mobile titles across various casual gaming genres.

The company, as of now, aims to grow its sales up to 10 times by the end of fiscal year 2018-19 as the main focus is targeted towards first world English speaking developed nations like North America and Europe along with Asian countries like Japan, South Korea, China, Singapore, etc.

Launched in 2014, the fun social mobile gaming platform PlaySimple was developed by Suraj Nalin, Siddharth Jain , Preeti Reddy among others. Basically the whole team consisting 22 members is a mix of engineers, artists, designers, managers, marketing and so on which deals with varied type of games such as puzzles, trivia, word games, etc. The average session time of 15 minutes help gamers to learn, adapt and play as the minimum receptive time. Also, the following gaming startup is emerging as one of the most sought-after gaming platforms in the competitive market.

PlaySimple earlier raised funds worth  $500,000 through Seed funding in December 2014 which was backed by IDG Ventures among which angel investor and former top executive at Zynga Yezdi Lashkari also participated in the Seed funding. The developers happens to be the ex-employees of Zynga who developed the game named GuessUp.

At present, the global social gaming platform generates revenue of $6.40 billion (as per previous records in 2012) thus claiming to settle at a market value of $18.75 billion by the fiscal year 2019-20.

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