Get All Access for $5/mo

LightFury Games Raises USD 8.5 Mn Funding from Blume Ventures, Mixi, and Gemba Capital Utilising the money, the startup intends to hire people in India and the UK to build AAA games, which are usually high-profile, high-budget projects.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Karan Shroff, Co-founder of LightFury Games/LinkedIn

Gaming startup LightFury Games has announced the raising of USD 8.5 million in a seed round from Blume Ventures, Mixi Inc, and Gemba Capital.

The fundraising round also included participation from angel investors Kunal Shah and Gaurav Munjal.

As per the official release, the raised funds will be used to build AAA titles with an initial focus on mobile games and later expand to other platforms, including consoles. AAA games are titles that typically have big budgets for both development and marketing purposes.

Additionally, the money raised will be used to open gaming studios in the UK and India and to employ top talent for these locations.

"Creating successful AAA titles in the Indian market and establishing a Tencent-like presence originating from India, is what we are excited to bring to the fore," said Karan Shroff, Co-founder of LightFury Games.

"It would necessitate building the finest expertise and leveraging state-of-the-art technological innovations to ensure top-tier gameplay quality," added Shroff, who was earlier the Chief Marketing Officer and Partner at Unacademy.

Tana Balachandran, a former senior vice president at Unacademy, Anurag Banerjee, who also serves as the company's chief product and technology officer, and Shroff cofounded LightFury.

In September 2022, Shroff left Unacademy following a three-year tenure with the edtech unicorn. Prior to this, he spent more than four years leading Xiaomi India's brand marketing.

"The ability to piece together the talent and bring in believers from the gaming and consumer universe makes it one of our most exciting investments we've made in this space," said Karthik Reddy, Co-founder and Managing Director at Blume Ventures.

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
Business News

Meta Makes $1 Million Dollar Donation to Donald Trump's Inaugural Fund

Meta CEO Mark Zuckerberg also reportedly gave Trump a pair of Ray-Ban Meta smart glasses.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Leadership

Should I Stay or Should I Go? 8 Key Points to Navigate the Founder's Dilemma

Here are eight key signs that help founders determine whether to persevere or let go.

Marketing

Your Most Powerful Marketing Weapon Is Hiding in the Finance Department — Here's Why

Transform your marketing leadership by turning finance from a barrier into a strategic ally. Learn how aligning with your finance team can drive unprecedented growth and innovation.

Starting a Business

They Bought an Ice Cream Truck Off eBay for $5,000. Now Their Company Has 70 Shops and Sells Treats in Over 12,000 Stores.

For the episode of "The Founder CEO," the co-founder and CEO of Van Leeuwen Ice Cream explains how one ice cream truck grew into a successful nationwide brand.

Leadership

I've Spent 37 Years in Business — Here's How I Beat the Odds and Stayed Ahead

For over thirty years, I have led a successful media production and communication consulting company. Only 25% of new businesses survive for 15 years or more, so I have beat the odds. But having staying power is not a matter of luck.