Circle of Games Raises USD 1 Mn from Nazara Technologies and The Hashgraph Association The gaming platform intends to use the fresh funding to fast-track its go-to-market strategy, improve platform capabilities, and widen its international presence in the US, EU, Middle East & Africa, and Asia in 2024.
By Entrepreneur Staff •
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Web3 multi-gaming platform Circle of Games (COG) announced that it has raised USD 1 million in equity funding from strategic investors Nazara Technologies FZ LLC (a wholly-owned subsidiary of Nazara Technologies Limited) and the Swiss-based organisation The Hashgraph Association.
COG intends to use the fresh funding to fast-track its go-to-market strategy, improve platform capabilities, and widen its international presence in the US, EU, Middle East and Africa, and Asia in 2024.
Recently, Nazara announced that it has pledged USD 100 million to invest in successful and innovative brands and IPs with cutting-edge technology in web3, virtual reality, and AIspace.
Rabilal Thapa, CEO and Co-Founder of Circle of Games, said, "This strategic partnership not only represents a significant endorsement of COG's mission and potential but also places the company in a prime position to exploit the expansive capabilities of Web3 gaming innovations globally."
"This collaboration goes beyond mere capital investment; Nazara will offer strategic guidance, support, and access to its extensive network to help the company grow, and Hedera will provide COG access to their vast collections of games, ecosystems, and substantial users, and their cutting-edge technology," he added.
Founded in 2022 by Rabilal Thapa (CEO), Rajeeb VC (CTO), and Rohit Tiwari (CMO), Circle of Games has garnered over 250,000 registered Android users, with its user base expanding rapidly. The platform is scheduled to launch its app on iOS devices by Q2.
The platform also plans to expand its gaming portfolio from the current six games to over ten games by Q4 2024.
The clientele of COG encompasses a global network of web3 projects and ecosystems, such as Chingari, Solana, Foundership, KGeN/IndiGGMetarun, TheFishVerse, NinjaGames, and other gaming guilds/DAOs. Through these alliances, COG gains quick access to a 500 million gaming community spread across more than 50 nations.
Kamal Youssefi, President of The Hashgraph Association, said, "We are pleased to further empower the global Web3 gaming industry through our co-investment with Nazara Technologies in Circle of Games – the leading Web3 multi-gaming app aiming to onboard the next billion users onto the Hedera network."
