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Udupi-based Robosoft Tech gets funding from Ascent Capital

udupi-based-robosoft-tech-gets-funding-from-ascent-capital

Robosoft Technologies, a mobile solutions provider from Udupi, has secured a Series B funding from Ascent Capital, with participation from the existing investor, Kalaari Capital.

The funding is worth $12 million and most of it from Ascent Capital and a small part of it by Kalaari as a follow-on investment on their previous venture capital funding in the company in 2013.

Robosoft Technologies, CEO, Rohith Bhat  said that the new round of funding will be used to bolster all the current offerings of the company across service segments. It will also help the company to invest in products and user acquisition.

99Games and Global Delight, two subsidary companies of Robosoft will now be separate companies with these new investments and will not depend on Robosoft.

Robosoft partners with a host of clients in India and abroad, with a majority of business coming from the US-based clients. Robosoft plans to build near-shore capability in the US, Europe and middle-east with these investments.

99Games has a two-pronged strategy to build games through licensed intellectual properties (IPs), largely for the Indian market; and to create own IPs for a global audience.

“Robosoft has successfully demonstrated that an Indian company can create globally acclaimed mobile applications and games. We are excited to support this talented team build the next generation enterprise solutions and games for the global and Indian markets,” said Ascent Capital, founder and MD, Raja Kumar.

The immediate focus would be around driving user-acquisition focused marketing campaigns for Star Chef, the latest hit game from 99Games. Star Chef is growing over 30 per cent month-on-month in terms of monthly active users as well as monetization. The game, launched in August, is getting a great response worldwide.

Global Delight, on other hand focuses on the iOS and Apple platforms in the audio, video and image domains.

The new round of investments will be used for expanding to the Android platform, user acquisition and taking the current crop of products to the next level in innovation.

“Robosoft has positioned itself as a premium go-to company for complete mobiles solutions for the global market offering a complete range across strategy, design and engineering. We are confident of this strategy attracting the best of business partners globally.” Kalaari Capital, MD, Kumar Shiralagi.


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