Metasports Interactive, a mobile gaming company, has raised US$20 million in funding from London-based Metica. This money is meant to help the company grow its user base.
The funding will mainly be used for marketing and getting more players for its multiplayer cricket game called Hitwicket. It will also help the company expand its game into new international markets in the next stage of growth.
Kashyap Reddy, Co-Founder and CEO, Metasports Interactive, said, “With Hitwicket, our vision is to reach over a billion cricket fans globally and build a truly world-class gaming business from India. This partnership with Metica gives us the capital and the tools to move faster in international markets without diluting ownership. We’re proud to be among the first Indian gaming companies to access this kind of structured UA funding, and we see it as a model that can unlock real scale for studios with strong fundamentals.”
Phil Mohr, Chief Executive Officer, Metica, said, “User acquisition funding is reserved for companies that demonstrate strong unit economics and repeatable growth. Metasports Interactive stood out because of Hitwicket’s ability to scale efficiently across both India and global markets. We see a major opportunity not only to provide growth funding, but also to support growth through our technology by helping optimise in-game revenue to increase lifetime value. We’re excited to partner with Metasports Interactive as they build a globally competitive gaming business from India.”
Founded by Kashyap Reddy and Keerti Singh, Metasports Interactive, through its main game Hitwicket, has already built a strong global player base of over 18 million users in 109 countries. The game is also doing well in terms of earning money from players, keeping users engaged for a long time, and collecting good-quality data about its users. Because of this strong performance, Metica decided to invest money at a large scale.
With this new funding, Metasports Interactive plans to grow its business by about 8 times in the next 18 months. It will do this by increasing marketing in key international markets, using AI to target the right users, and continuing to improve and develop the game so it becomes even better and more engaging.
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