F2P mobile game studio LILA Games raises $10M in Series A led by Rainfall Ventures
Bengaluru-based F2P mobile game studio LILA Games on Wednesday announced a $10 million Series A funding round led by Rainfall Ventures. It also saw participation from Bitkraft Ventures, Galaxy Interactive, Sequoia Capital India, and Krafton.
Besides, angel investors, including Ryan Wyatt (CEO of Polygon Studios), Tanay Tayal (Co-founder and CEO of Moonfrog Labs), and Thomas Vu (Producer of Arcane: League of Legends), also participated.
According to a statement, LILA Games will use the fresh investment to develop its first F2P shooter game title, with deep social hooks, and build its Bengaluru-based team.
Speaking on the funding, Joseph Kim, CEO of LILA Games, said,
“LILA Games aspires to build a different kind of organisation with a culture that enables learning, focuses as much on organisational improvement and product improvement, and provides equal opportunities. We strongly believe the emergence of India as an upcoming global leader in gaming, and its potential to develop best-in-class talent in the F2P gaming industry will give us long-term structural advantage.”
Founded in 2020 by Joseph Kim, Paul Leydon, and Avinash Pandey, the mobile gaming studio seeks to build highly emotional game products. It is on a mission to create a new kind of organisation focused on creating opportunities for people to become their absolute best. At present, it is working on a unique FPS shooter title.
LILA Games’ founders have collectively developed multiple top-grossing mobile games that have amassed hundreds of millions of players.
In November 2020, the gaming startup secured $2.8 million in its seed round to expand its hiring and establish its studio in India.
“Very rarely have I seen a team that is so obsessed with building a company around a vision with culture first and a level of executional excellence that stands best in class. LILA’s first game ‘BLACK’ will redefine the mobile shooter genre, which I can say with certainty and excitement while I witness the game coming together,” commented Jens Hilgers, Founding General Partner at BITKRAFT Ventures.
LILA Games seems to be a captivating startup with inspiring new development on entertainment platform. I’m certain this startup would keep on succeeding in its excursion ahead. All the best to the whole group of LILA Games. This will give them an enormous achievement in the future.Shishir Gupta, Founder and CEO, StartupLanes
Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
You can subscribe to our news posts by entering your email in the box on the right side of this page.
Check out our YouTube channel for insightful content from the Indian startup ecosystem.
Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.
The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.
Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.