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Indian gaming startup rakes in $1 mln funding

Source : IBNS
Last Updated: Thu, Feb 09, 2012 08:51 hrs

Gaming website startup Gamiana has got Angel funding of under a million US dollars from Indian Angel Network (IAN), India's largest and the oldest angel network, to fuel its growth over the next few quarters.

With this investment Gamiana will grow its customer base, enhance gaming software development for existing games--Jamia Online and Vinashi--and bid for new gaming contracts in overseas markets, IAN said in a media release.

Vishal Golia, co-founder of Gamiana says, "Gamiana approached IAN because it has a vast network of investors representing the who's who of successful Indian entrepreneurs."



"We, at Gamiana, will now be able to leverage the global presence, market insights and network of IAN's global members to fuel our growth," he said.

IAN member Chetan Shah, who joined the board of Gamiana, said "The passion and domain expertise that Vishal and Sumeet bring to Gamiana and their ability to execute the business plan built my confidence in this team."

Gamiana or House of Games, derived from Games and Aashiana (house), is one of the first companies in India to offer multi-player platforms and the ability to play games real time, IAN said.

This will address the new markets created by the synergies between the increase of internet on smart-phones, online gaming and social networking across the globe, the venture capital company added.

Gamiana's goal is to become a dominant player in India by tapping the expected increase in internet usage on smart phones. At the same time Gamiana is laying the foundations for its increasing its global footprint.

The company is focused on many developing markets like Brazil, Turkey, and the Philippines as it understands the challenges of Internet adoption there.

Additionally, the company will continue to develop real-time synchronous games across PC, Facebook and wireless platforms (including Android, iOS and others).

Gamiana's management team consists of international gaming veterans whose collective global experience spans decades in the development and publishing of online multi-player games.

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