Blume, First Light invest $500k in India's MadRat Games
Blume Ventures and First Light Ventures have invested $500,000 in Bangalore-based gaming start-up MadRat Games.
Founded by Rajat and Manuj Dhariwal and Madhumita Halder in 2009, the firm specializes in educational games. Its flagship product is Aksharit, a Hindi word game, is currently used by around 24,000 schools in Chhattisgarh to make Hindi learning easy for children.
MadRat has a 15-member team and develops mobile and web apps in addition to board games. Last year, Nokia launched one of its models with MadRat games pre-installed in half-a-million handsets. The company claims to have generated around INR11 million ($200,000) in revenue in the past three years.
Adit Parekh, a prinicpal with Blume, will be joining the board at MadRat.
"The main reasons behind the investment are the team and the market." said Parekh in a statement. "The team provides a good combination of game play, design and operational expertise gained from their vast background in technology and teaching."
Rajat says the differentiating aspect of MadRat Games is its focus on innovation in designing gameplay.
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