Bengaluru-based console gaming startup MetaShot, 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.
Founded in 2021 by Prince Thomas, Ranjit Behera and Ajith Sunny in Bengaluru, the company offers cricket console-like games. The company claims to transform the gaming industry by bringing the console-gaming experience to a wider audience.
“Our vision for hashtag#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,” said Thomas.
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.
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.
