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NewsVoir
Bengaluru (Karnataka) [India], June 13: HighXP, a casual gaming studio building social games has raised USD 2.2 million in seed funding. The funding was led by 3one4 Capital with participation from Prime Venture Partners and Gemba Capital. Several noted angel investors also participated in HighXP including Rahul Bhardwaj - Co-Founder COO Junglee Games, Owl Capital, Anuj Tandon - Gaming Investor & CEO Gaming Jetsynthesys, and Giri Patil - VP Engineering Propertyfinder. The investment will play a crucial role in accelerating the growth of HighXP's debut game, Doodle Me, available for free on the Google Play store and Apple Store and assist the studio in launching more games. The startup will use the fresh capital to invest in new talent and expand its team across all functions. Founded by Shankara Seethappa and Raghu Sankar, HighXP is a casual gaming studio that builds fun and engaging social-casual games for a global audience. The founders have played instrumental roles in creating and nurturing more than 20 games at renowned organizations such as Zynga, Big Viking Games, and Microsoft. Leveraging their expertise, HighXP aims to develop captivating social-casual games that resonate with a global audience. The startup's inaugural game, Doodle Me, is a social drawing and guessing game designed for players aged 5 and above. The casual mobile gaming industry is experiencing rapid growth, with an increasing number of players worldwide. According to an industry report by SuperData, there are over 1.2 billion gamers who engage in casual games annually, with approximately 58.86% of them playing games on mobile devices. In line with this trend, Sensor Tower projects that player spending on mobile games will reach an astounding USD 117 billion by 2026. Moreover, the global number of game downloads is expected to reach 181 billion by 2026. Closer to home, the Indian mobile gaming industry is also flourishing. The Ministry of Electronics and Information Technology (MeitY) estimates that the revenue of the Indian mobile gaming industry is expected to reach USD 5 billion by 2025. Supporting QuotesShankara Seethappa, CEO and Co-founder, HighXP, "We are thrilled to receive this investment, which will enable us to continue developing engaging and fun games for our players. We are grateful to have the support of esteemed investors who believe in our vision. With this funding, we look forward to expanding our team and launching new games that will captivate players around the world." Raghu Sankar, CPTO and Co-founder, HighXP, "The gaming industry has always been our passion, and we are proud to bring that expertise to HighXP. The funding we have raised will play a crucial role in accelerating our growth and expanding our game portfolio. We are excited to build on our experience and deliver fun and captivating social-casual games that resonate with players globally." Sonal Saldanha, VP, Investments, 3one4 Capital, "India has so much to offer in terms of gaming talent. HighXP is a tremendous opportunity for us to work with a seasoned team building mobile games that will be loved by audiences the world over. Raghu & Shankara are engineers turned product owners from Zynga and Big Viking Games, and a duo that are very good together. We're excited to back their bold vision for casual games that are natively social." Shripati Acharya, Managing Partner, Prime Venture Partners, "HighXP has all the ingredients to become a major player in the industry, and we are excited to support them in their mission to captivate the global gaming community. The founders' extensive experience in the gaming industry, coupled with their track record of creating and growing successful games, gives us immense confidence in the potential of HighXP. We believe that their focus on building social-casual games aligns perfectly with the growing demand for interactive and engaging gaming experiences." Adith Podhar, Founding Partner, Gemba Capital, "We feel this is the right time to build large global gaming studios from India. The HighXP team has access to great gaming talent and the experience and insights needed to build games and scale them globally. Quintessentially, we feel the SaaS story will now play out for Gaming in India - build in India for the world." HighXP is a leading casual gaming studio focused on creating social games that provide a fun and engaging experience for players worldwide. Founded by Shankara Seethappa and Raghu Sankar, industry veterans with over 18 years of combined experience in the gaming industry and have managed USD 89M game P/Ls annually, HighXP is driven by a passion for developing innovative and captivating games. HighXP's debut game, Doodle Me, a social drawing and guessing game, is soft launched in select geographies including India and is available for free on the Google Play store and Apple Store. Prime Venture Partners is an early-stage VC fund managed by partners with deep experience both as entrepreneurs and operators. Led by Amit Somani, Sanjay Swamy & Shripati Acharya, the fund is focused on building disruptive product companies out of India, and addresses a much needed gap in the Indian startup ecosystem - by bringing a combination of first-hand entrepreneurial experience, operating expertise and meaningful capital. Prime is a high conviction, high support investor and believes in backing star teams with differentiated ideas. Prime has a rich portfolio of category creating companies including Quizizz, MyGate, PlanetSpark, Dozee, NiYO, Sunstone Eduversity, KredX, WheelsEye and more. For more information, please visit www.primevp.in. Gemba Capital is a sector agnostic micro-VC Fund investing in tech startups in seed and pre-seed rounds. The Fund aims to back mission-driven high-quality founders that possess an unwavering ambition to build large world class companies. Led by Adith Podhar, the fund's investing style is more focused on "Founder Market Fit". Gemba is a high conviction thesis led investor and not afraid to make counter narrative and contrarian investments. Some of the startups Gemba has backed are Wint Wealth, Plum Insurance, Grip invest, Strata, Showroom, Zuper, Unnati, Threado, Smartstaff and more. For more information, please visit www.gembacapital.in. (Disclaimer: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)
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