Gurgaon-based gaming platform startup Nova Gaming Ventures is in talks with multiple investors to raise $5 million to fund its expansion plans. The company, which had launched its gaming platform NovaPlay in April this year, is now looking to expand into mobile gaming space, said Amitesh Rao, CEO.
“We are in talks with Indian as well as Chinese, German, Swedish and Russian venture capital and investment firms to raise close to $5 million, and are looking at firms from countries where gaming is already a big business and they understand the opportunity. Ideally firms with an exposure to gaming or internet,” Rao told.
NovaPlay is India’s first of its kind gaming platform that enables gaming enthusiasts to discover and legally purchase and download games. It also gives access to quality and original content, and allows gamers to network with likeminded community and compete in multiplayer tournaments. Rao said that NovaPlay is trying to integrate the fragmented gaming market in India and establish a leadership position across the nascent but growing gaming community.
He said the company will close the funding in the next two months and the money will be used for investments in technology, hire high-end talent and fund cost of customer acquisition in mobile ecosystem, which he claimed, is fairly high than in PC. He, however, added that NovaPlay’s focus will remain on high-quality multi-player games including MMOs (massively multiplayer online game), Role Playing games (RPGs) and first person shooting (FPS) games.
NovaPlay has partnered with VALVE – a dominant player in global PC market, Azubu – the second largest live streaming platform for games, ESL – Global exports leaders, and others.
Source: Economic Times
