Gaming startup LightFury Games raises $8.5M in a seed round led by Blume Ventures

LightFury Games, a nascent gaming startup co-founded by Karan Shroff, Tina Balachandran, and Anurag Banerjee, has raised $8.5 million in seed funding. 

The funding round was led by Blume Ventures with additional investment from Mixi, a Japanese mobile entertainment firm, and Gemba Capital, a micro venture capital firm. The startup was officially launched in April of this year.

Developing high-budget, high-quality AAA video games

The startup plans to use the raised capital for developing high-budget, high-quality AAA video games, initially focusing on mobile platforms with plans to expand to consoles later.

AAA titles are known for their extensive budgets, both in development and marketing. The funds will also facilitate the opening of two state-of-the-art gaming studios, one in Bangalore, India, and another in London, UK. These studios aim to attract top industry talent to bolster their development capabilities.

Who are the founders?

Karan Shroff is the co-founder and CEO LightFury Games. Previously, Shroff involved with Unacademy as a partner and chief marketing officer, and prior to that, he led brand marketing at Xiaomi India.

Tina Balachandran, who serves as the Chief People and Operations Officer at LightFury Games, was a former senior vice president at Unacademy. Anurag Banerjee, another co-founder, holds the role of chief product and technology officer at LightFury Games, bringing a wealth of experience from the gaming industry.

Leadership comments 

Karan Shroff, Chief Executive of LightFury Games, expressed his enthusiasm for setting a new standard in the Indian gaming market. "Creating successful AAA titles in the Indian market and establishing a Tencent-like presence originating from India is what we are excited to bring to the fore," Shroff stated.

He also highlighted the strategic importance of building expert teams and incorporating advanced technological innovations to ensure exceptional gameplay quality.

Karthik Reddy, Co-founder and Managing Director at Blume Ventures, said, "The ability to piece together the talent and bring in believers from the gaming and consumer universe makes it one of our most exciting investments we've made in this space."