IDG Ventures has invested an undisclosed amount in Bengaluru based mobile game start-up company, PlaySimple. The investing round also saw participation from Yezdi Lashkari, an angel investor and a former top executive at Zynga.
PlaySimple was cofounded by Siddharth Jain along with Preeti Reddy and Suraj Nalin all of who were previously employed at Zynga and had releases like Mafia Wars, Bubble Safari under their belts. PlaySimple has already a game in the marketplace; ‘GuessUp’ which has close to 5000 downloads.
“Our vision is to build a world class mobile entertainment company out of India. We believe that there is a huge opportunity out there and now is a great time to go after it,” said Jain in a chat with a leading daily.
Investment received will be utilised by PlaySimple to grow their gaming portfolio and build their team, which the company has already started hiring people for. The company is targeting global markets especially English speaking countries.
IDG launched its seed program earlier this year to discover interesting investment opportunities at a very early stage.
“Globally, mobile gaming is a very large, growing market. Gaming is a hits business, but the ones that succeed do take off rapidly towards profitable growth in a short period of time,” said senior associate at IDG Ventures India Advisors, Karthik Prabhakar.
In November, another Bangalore-based social gaming startup HashCube Technologies had raised Rs 4.2 crore from Mumbai-based gaming company Nazara Technologies and early this year Octro received $15 million from Sequoia Capital India.