Bengaluru-based gaming startup MetaShot has raised $400,000 in a pre-seed funding round led by Inflection Point Ventures, with participation from an early-stage gaming focussed fund and prominent angel investors, including founders of Dineout - Ankit Mehrotra, Sahil Jain and Khalid Qazi, among others.
Founded by Prince Thomas, Ranjit Behera, and Ajith Sunny, MetaShot has developed a smart metaphysical gaming device with advanced sensors and proprietary technologies which now enables a console-like game experience at mass affordable pricing
The current round of funding would help the startup to expand the team, invest towards growth and marketing and for research and development (R&D) efforts, the startup said.
The gaming platform allows users to play with friends or strangers from around the world. It aims to carve a new audience segment with its unique metaphysical gaming experience.
Vikram Ramasubramanian, Partner, Inflection Point Ventures, said, “MetaShot is bringing a near real-life cricketing experience to the gamers. Cricket is loved in India in all seasons and for all reasons. We see that with the right marketing and business strategy that Metashot has demonstrated, they can tap into billions of cricket lovers in the country and explore strategic partnerships to drive their brand recall. The potential is immense, and we believe IPV can help MetaShot with this Moon shot of an opportunity.”
Prince Thomas said MetaShot aims to transform the $72 billion worldwide gaming console industry through the introduction of approachable metaphysical gaming, a concept still in its infancy on a global scale and in India.
"Our objective is to infuse the delight of physical sports into the heart of every household. Through our inaugural product, our goal is to deliver the thrill and exhilaration of authentic cricket right into the living rooms of a nation fervent about the sport. Intriguingly, MetaShot was conceived, crafted, and brought to life entirely within the borders of India. We extend our gratitude to our investors for their belief in our journey and their support of our mission," Prine said.
The Indian gaming gadget market, currently valued at $1.2 billion, is projected to experience a significant CAGR of 14.1%, reaching an estimated worth of over $6.3 billion by 2032. Globally, the gaming gadget industry stands at $71.2 billion today and is anticipated to grow substantially to $157 billion by 2032.