Shunwei Capital from China is going to invest $ 2 million in the gaming startup Mech Mocha, located in the Indian city of Bangalore.
This was reported to the Economic Times by sources close to the deal. Accel India plans to get a share in the startup together with Shunwei Capital.
This will not be the first deal for Mech Mocha. During the last round, the company raised from $3 million to $4 million. In December 2015, $1 million was invested in it.
The Mech Mocha gaming startup has less than 20 people. The main project of the company is a two-dimensional runner Chhota Bheem Himalayan Game, which has collected more than 1 million downloads on Google Play.
Shunwei Capital is an investment company founded by Lei Jun, CEO of Xiaomi, a company specializing in the production of mobile equipment.
The Chinese interest in the Indian market is understandable. Over the past two years, Xiaomi has earned $1 billion on it. In the third quarter of 2016 alone, it sold 2 million devices in this country. At the same time, the Chinese company is being squeezed by OPPO and vivo in its home market.
Recently, the Indian market has been increasingly flashing in the news headlines. In December, Starbreeze Studios bought Indian outsourcing studio Dhruva Interactive for $8.5 million. The natives of Zynga raised $4 million in November to launch a studio in India.
In the third quarter of 2016, India was ranked third in the world in total downloads from the App Store and Google Play. However, the company did not enter the top ten countries by revenue.
Sources: Economic Times, Pocket Gamer