March 12-2015
MoonFrog Labs obtains $15m funding from Tiger Global and Sequoia Capital

MoonFrog Labs, a Bengaluru based mobile gaming start-up has raised $15 million from New York-based investment firm Tiger Global Management and Sequoia Capital to create mobile games across genres such as action, role-playing, strategy and casino.

The company was founded in 2013 by Tanay Tayal, Ankit Jain, Kumar Puspesh, Oliver Jones and Dimpalkumar Maisuriya. Moonfrog has so far launched two games including Teen Patti Gold and claims that it has been downloaded more than two million times. The three card poker game comes in four languages English, Hindi, Gujarati, and Marathi.

“There is a huge gap in local content available to Indian gamers. Our aim is to bridge this gap and provide exciting, engaging experiences for India’s growing mobile player base. This round of funding is a vote of confidence in our ability and will help us grow our team and redefine mobile entertainment in the country,” said Moonfrog Labs co-founder Tanay Tayal.

The fresh round follows the $1 million seed capital that Sequoia Capital had invested in the company in 2014. Moonfrog Labs intends to utilise the fund to grow its talent pool and develop next generation mobile games for Indian audiences, the company said in a release.

“The team at Moonfrog has exceptional global experience and track record of execution. We are excited to support the company as it develops and expands its game offerings for the Indian audience,” said Tiger Global Management partner Lee Fixel.

Card based gaming genre has been hot for receiving funding in India and start-ups with such games have generated much traction when it comes to funding. Octro is one such company which was backed by Sequoia with $15 million in December 2014.Octro is the creator of popular games like Teen Patti and Rummy.