GameEon Studios Secures $1 Mn In Latest Funding

BW Online Bureau Sep 12, 2024

This investment will accelerate the creation of AA and AAA games for PC and console, with select titles also being available on mobile platforms

GameEon Studios, a Mumbai-based game development studio, raised USD one million in its latest funding round to further expand and develop the much-anticipated 'Mumbai Gullies' franchise.

This investment will accelerate the creation of AA and AAA games for PC and console, with select titles also being available on mobile platforms, as per the press release.

"Mumbai Gullies is more than just a game; it’s a celebration of Mumbai’s vibrant culture, and we’re thrilled to be building this experience for a global audience," said Nikhil Malankar, CEO of GameEon Studios. "We believe in crafting experiences that resonate not just in India but across the world, and this funding will help us bring that vision to life."

Founded by Nikhil Malankar (CEO) and Kaustubh Jadhav (COO), GameEon Studios has raised USD 500 thousand for product prototyping and market testing, conducting trials in 12 countries and gathering insights from over 5,000 gamers globally.

This round saw participation from investors including SucSEED Innovation Fund, ICE.VC (Mrunal Jhaveri), IAN, CD Equifinance, Nexus Global Opportunities Fund, Vivek Goel (Founder and Director, Tailwind Financial Services), Patni Family (via Bombay Founders’ Club) and Tal64. The funds will be used to finalize and launch the early chapters of Mumbai Gullies, a franchise that promises to combine cutting-edge game development with deeply rooted cultural storytelling.

Mrunal Jhaveri, Founder of ICE VC, said “What excites me most about GameEon Studios is their bold vision to merge culturally rich narratives with world-class gaming mechanics. Mumbai Gullies is more than just a game, it’s an opportunity to showcase India’s vibrant culture to a global audience while setting new standards for the Indian gaming industry.”

As gaming continues to grow rapidly in India and globally, the sector is set to generate over USD 300 billion worldwide by 2026. With an increasing number of gamers and studios emerging in India, GameEon Studios is at the forefront of this growth, offering a blend of cultural storytelling and world-class gaming mechanics, said the press release.