Mobile Game Development Startup LILA Games Raises $10 Million in Series A The Bengaluru-based company will use the investment to develop its first title and to further build out its India team
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LILA Games, a F2P mobile game studio, announced a $10 million Series A financing round. The round was led by Rainfall and included participation from BITKRAFT Ventures, Galaxy Interactive, Sequoia Capital, and KRAFTON, Inc. Angel investors including Ryan Wyatt, CEO of Polygon Studios, Tanay Tayal, Co-founder and CEO of Moonfrog Labs, and Thomas Vu, producer of Arcane: League of Legends also participated in the round.
The Bengaluru-based startup will use the investment to develop its first title and to further build out its India team. LILA Games was founded by Joseph Kim, former Chief Product Officer at SEGA and Studio Lead at FunPlus; Paul Leydon, former lead game designer at FunPlus and MZ, and Avinash Pandey, previous Co-Founder of JUNE Gaming & Ycombinator Alumni. The tam has previously launched mobile game titles such as King of Avalon and Game of War.
"LILA Games aspires to build a different kind of organization with a culture that enables learning, focuses as much on organizational improvement as well as product improvement, and provides equal opportunities. We strongly believe that the emergence of India as an upcoming global leader in gaming, and its potential to develop best-in-class talent in the F2P gaming industry will give us long-term structural advantage," said Joseph Kim, CEO, LILA Games.
"Very rarely have I seen a team that is so obsessed with building a company around a vision with culture first and a level of executional excellence that stands best in class. Our confidence in LILA Games' vision is unchanged but our confidence in the team has only been growing ever since we led the Seed Round early last year. LILA's first game "BLACK' will redefine the mobile shooter genre, which I can say with certainty and excitement while I witness the game coming together," added Jens Hilgers, founding general partner, BITKRAFT Ventures.