Gaming company Atirath has raised funds from Kalaari Capital in a seed round, according to a statement. The amount of fund raised was not disclosed. The proceeds will be used to strengthen products to evolve and develop the economic model of game metaverse and towards expansion plans.
“Game development company Atirath has raised an undisclosed amount of seed funding from Kalaari Capital,” the statement said. Atirath develops games in casual and strategy genre, bringing sub-continent cultural elements with global appeal. India is among the top five mobile gaming markets in the world. Moreover, high internet penetration rate, mobile first phenomena and low cost of internet are fuelling demand.
Vamshi Reddy, Partner at Kalaari Capital, said “We will see new forms of monetisation layers coming up, especially with the onset of Play2Earn and the amalgamation of NFTs and Crypto in Gaming.” Atirath Gaming Technologies has a team size of 15 members based out of Hyderabad, developing casual/strategy genre-based gaming metaverse platform.
Shiva Bayyapunedi, co-founder of Atirath noted that “Players are no longer passive and new platforms will be enabling them to contribute and monetise from the success of games. We are building game metaverse in strategy genre with Indian mythology theme with unique game play features”.
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