GHack Technologies, which owns and operates gaming platform EWar Games, raised $200,000 in equity funding from the House of Jindals, the angel investment arm of Bengaluru-based Jindal Steel, and Jeet Banerjee, founder of sports management firm Gameplan.
The Bengaluru headquartered company will deploy the fresh capital to optimise the quality and user experience of its mobile app, and strengthen its marketing and brand promotion efforts across mediums, the company said in a statement.
Parth Chadha and Rahul Singh set up EWar Games in 2018. The app has a user base of over 5,00,000, who play more than 45,000 games on the platform per month, the company claimed. Games such as pro cricket, knife dart, candy jam, drift boss, flip jump and smash are available on the platform, it said.
Chadha earlier worked as an associate at JP Morgan Chase & Co, while Singh was a UI developer at Bellwether and a web UI developer at NMBR Systems.
“Within a very short span of time, the e-sports application has become overwhelmingly popular and is witnessing three-fold month-on-month growth. EWar now aims to cater to a user base of over 1 million in the next two months and wants to position itself as the most customer-centric gaming platform,” Chadha said.
The company aims to raise more capital soon, the statement added.
The Indian mobile gaming market is expected to be worth $1.1 billion by the end of 2020, and the number of gamers will go up to around 628 million by then, according to the National Association of Software and Service Companies (NASSCOM).
“The trend of e-sports and games in India has grown notably in recent times. Our platform wants to be an ultimate place for all such players to play, stream, and get rewarded consistently,” Singh said.
EWar Games competes with companies such as HalaPlay, Dream 11 and Myteam 11 in the segment.
There have been some deals in the online gaming segment in the past one year.
Earlier this month, Gurugram-based Indipepper Media, which owns skill-based gaming platform Zupee, raised $8 million in a Series A round led by venture capital firm Matrix Partners India.
In September, mobile gaming startup Nazara Technologies acquired a majority stake in Delhi-based video game developer Sports Unity. In the same month, online gaming platform SoStronk raised an undisclosed amount in funding from venture capital firm IP Ventures.
In May, e-sports startup GamingMonk Entertainment raised $100,000 (Rs 69 lakh then) from Japanese firm GameWith, which owns and operates a game information website.