Sequoia commits $15m to India gaming company
Sequoia Capital has provided $15 million in Series A funding to Octro, an India-based mobile games developer.
The company, which was founded in 2006, takes classic games that have existed offline for generations and develops them for mobile platforms. Two titles in the Octro portfolio - Teen Patti and Rummy - rank in the top five games in multiple categories on Google Play. Its most recent release is Tambola.
"Indian games like Tambola, Teen Patti and Rummy have been a part of people's lives for years. Octro has made these culturally relevant games come to life on the mobile. We look forward to working closely with the team and leveraging our network to help the company scale greater heights," said Mohit Bhatnagar, managing director at Sequoia, in a statement.
The VC firm recently closed its fourth India-focused fund at $530 million. It will primarily invest in the technology, consumer and healthcare sectors. Within technology, mobile, online payment, big data, software-as-a-service, cloud computing and enterprise software are of particular interest.
Capital committed to Sequoia's India funds now stands at more than $2 billion and the firm has backed over 75 companies.
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