Indian mobile game studio Moonfrog raised $15 million during the investment round A.
The funds came from two venture funds: Tiger Global and Sequoia Capital. In 2014, Moonfrog received $1 million in seed investments from them.
Two factors obviously influenced the size of investments. The first is the presence of big names in the studio team: the Moonfrog management team previously worked on Empires & Allies, Mafia Wars and Castleville games at Zynga. The second factor is that with the money received before, the Indian studio has already managed to launch the Teen Patti Gold game. Now it is at the top of the ratings of the local App Store for downloads.
Moonfrog plans to spend the funds received on further development and creation of new titles. The studio’s management notes that the Indian gaming market is very attractive for investors, because now it is rapidly developing and there is a shortage of high-quality projects.
A source: http://www.gamesindustry.biz
Other materials on the topic:
- The Finnish studio attracted investments in the amount of $4.1 millionMobile analytics service YouAppi received an investment of $3 million
- A-round — this name is usually assigned to the first significant round of venture investments.
This is an investment that allows the company to start production and sales or commercial operation of the service.