IDG Ventures India has invested an undisclosed amount in Bangalore based startup PlaySimple, a mobile gaming firm. Yezdi Lashkari, an angel investor and former top executive at gaming firm Zynga also participated in the round.
The funds will be used to build a portfolio of mobile casual games targeting the global markets.
Siddharth Jain founded PlaySimple along with his Zynga colleagues Suraj Nalin and Preeti Reddy. PlaySimple has released the GuessUp game which is available on android and iOS.
At Zynga, the founders led game releases like Mafia Wars, Bubble Safari, and delivered many innovations around gameplay, engagement, and analytics.
“Our vision is to build a world class mobile entertainment company out of India. We believe that there is a huge opportunity out there and now is a great time to go after it,” said Siddharth Jain.
“Globally, mobile gaming is a very large, growing market. Gaming is a hits business, but the ones that succeed do take off rapidly towards profitable growth in a short period of time,” said Karthik Prabhakar, senior associate at IDG Ventures India Advisors.
IDG Ventures manages US$ 4 billion globally with over 200 portfolio companies and ten offices across Asia and North America. It is operational in five countries- China, Vietnam, India, Korea, and The United States (San Francisco). IDG Ventures India helps its investee companies understand their markets better and penetrate them faster than their competition.