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Exclusive: Accel, Shunwei lead $3.8 mn round in gaming startup Mech Mocha

06 April, 2017

Bangalore-based mobile gaming company Mech Mocha Game Studios Pvt. Ltd has raised Rs 25.5 crore (around $3.8 million) in its Series A round led by venture capital firms Accel Partners and China’s Shunwei Capital.

Accel has invested around Rs 11 crore ($1.7 million) while Shunwei put in Rs 10 crore ($1.5 million), filings with the Registrar of Companies show.

Milestone Trusteeship Services Pvt. Ltd, a debenture trustee registered with market regulator Securities and Exchange Board of India, and Australia-based S Deo Corp Pty Ltd also participated in the round.

When reached for comment, Mech Mocha co-founder Arpita Kapoor said the company was “finalising multiple things and can’t comment on the specifics as of now.”

The fresh funding comes almost a year after the company raised $1 million from Blume Ventures and e-commerce firm Flipkart.

Mech Mocha was launched by Kapoor and Mohit Rangaraju in 2014. Its first game, Puppet Punch, clocked 100,000 downloads in the first four days of launch in January 2015. The company develops and publishes freemium games, with Chhota Bheem-Himalayan Game being its first offering for the Indian market.

Team Mech Mocha

Shunwei Capital, which invests in mobile Internet, Internet of things and tech companies, was reported to be keen on investing in Indian startups, in partnership with domestic VC firms. The Chinese VC firm had closed its third fund in July 2015 with a capital commitment of $1 billion, a report by Chinamoneynetwork.com said previously.

In February this year, it had invested $3 million in Mumbai-based Truebil, a marketplace for pre-owned cars.

In January, The Economic Times reported that Mech Mocha was in advanced talks to raise $3-4 million from Shunwei and Accel Partners.

The gaming startup space has seen some investment activity in the past few months.

Earlier this year, Udupi-based gaming startup 99Games Online Pvt. Ltd. raised an undisclosed amount of funding from Japanese investment firm Dream Incubator. Existing investors Ascent Capital and Kalaari Capital also participated in the round.

In November last year, mobile gaming startup PlaySimple Games secured $4 million (nearly Rs 27 crore) in a Series A round led by SAIF Partners and IDG Ventures India. In the same month, Mumbai-based mobile games developer Nazara Technologies said it may opt for a public listing in 2018. Around the same time, social media giant Facebook Inc. launched a feature called Facebook Instant Games, which will allow users to play games with messenger contacts.

In September 2016, mobile games publisher Flixy Games Pvt. Ltd raised $425,000 (Rs 2.8 crore) in seed funding from Rebright Partners, a Japan-based venture capital firm.

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Exclusive: Accel, Shunwei lead $3.8 mn round in gaming startup Mech Mocha

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