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MetaShot co-founders
MetaShot, a Bengaluru-based console gaming startup, has raised Rs 11 crore in a combination of equity and debt funding led by Sauce.VC, along with Sharrp Ventures and Panthera Peak Capital.
The startup plans to use the raised capital for team expansion, R&D, growth, and brand building.
It previously raised $400,000 in a pre-Seed funding round in 2023 led by Inflection Point Ventures, with participation from an early-stage gaming focussed fund and prominent angel investors
What does MetaShot do?
Founded in 2021 by Prince Thomas, Ranjit Kumar Behera and Ajith Sunny, MetaShot is revolutionizing the gaming industry by bringing the console-gaming experience to a wider audience, using a homegrown technology with a pending patent.
The startup said that MetaShot Smart Bat seamlessly tracks a user's real-world shots, translating them into virtual shots within the MetaShot game.
"We see Metashot as the perfect way to connect with friends and loved ones over simulated sports. The games are simple, easy to play and make for a fun social experience for all ages. We are excited by the pipeline of games and feel the price point is perfect to make for gifting and export use case," said Manu Chandra, Partner, Sauce.vc.
MetaShot's market presence
MetaShot recently expanded into the Middle East and plans to soon launch in the USA. Notably, it was also featured in the Shark Tank India Season 4 trailer.
The startup's product is now available across India through e-commerce websites, quick commerce platforms and offline channels.
“We’ve already seen over 8 lakh matches on MetaShot in the short span of our journey, validating the customer's interest in this unique metaphysical play,” said Prince Thomas, Co-founder & CEO of MetaShot.
“Our vision for MetaShot is to become a platform that offers a diverse range of games, seamlessly merging the physical and virtual world. We thank Sauce.vc, Sharrp Ventures and Panthera Peak Capital for their confidence and commitment to supporting our vision and growth.”
In the current financial year, the startup is projected to grow 5x in revenue from the last financial year. Globally, console gaming is currently valued at $50.9 billion and is expected to reach $91.24 billion by 2033. In India, this market is valued at $2.2 billion and is projected to grow to $8.6 billion by 2028.