In a significant move in the gaming industry, startup LightFury has successfully raised $8.5 million in its first external financing round. Announced on Wednesday, April 17, the funding effort was spearheaded by Blume Ventures, a notable venture capital firm, alongside other prominent investors.
Participating in this round were MIXI, Gemba Capital, and Angels, with individual contributions from well-known figures such as Kunal Shah and Gaurav Munjal.
LightFury intends to channel these funds into the development of AAA titles, aiming to enhance its studios in India and the UK. AAA games are recognized for their exceptional quality and polish, typically produced by leading studios equipped with extensive financial and technical resources.
Karthik Reddy, co-founder and managing partner at Blume Ventures, expressed his enthusiasm for the investment. "The ability to assemble a skilled team and attract support from experts within the gaming and consumer sectors makes this one of our most thrilling ventures in the field," he stated.
The founders of LightFury, Karan Shroff, Anurag Banerjee, and Tina Balachandran, bring a wealth of experience from their previous roles at companies such as Unacademy and Tencent Games. Shroff, who served as the chief marketing officer at Unacademy before co-founding LightFury, highlighted the burgeoning potential of India's gaming market. "The gaming sector in India is expanding rapidly, making this the perfect time to leverage our collective expertise," he noted.
Shroff further emphasized the strategic use of the new capital, aiming to recruit top-tier talent to establish India as a significant player on the global gaming stage.
