The Gaming Project raises half a million dollars in seed funding
The Gaming Project, India’s first cloud gaming platform, has raised $500,000 as seed funding from lead FAAD Network along with Upsparks, BlackKite, SucSEED Indovation Fund among others. The round also saw participation from platforms like MaGEHold & Hem Angels.
Cloud gaming is a form of online gaming where the game runs on remote servers. The users can play any game they want without the constraint of having expensive physical gaming rigs.
The Gaming Project (TGP) is democratizing access to AAA games with its cloud gaming platform that allows users to play any video games/AAA games on any device (mobiles, laptops). Such devices, with even modest configurations, can leverage TGP to play the most advanced console/PC based games. Since March 2020, when The Gaming Project went live, it has signed up more than 300,000 users on their platform without any promotions.
The Gaming Project was assisted by A&W Capital, a boutique sports and gaming focused investment bank and Huddle, a sector agnostic accelerator for early-stage start-ups.
“Our entire goal up until our first raise was to make sure we spend as few resources as possible, but at the same time achieve a product market fit that is appreciated by everyone in the gaming community and actually answer the question of whether cloud gaming is possible in India or not,” said Sarang Atri, Co-founder, The Gaming Project.
“Ever since the inception of our project, the inevitable question that always came up was whether the internet infrastructure was capable enough for this technology. Thankfully our customers answered that question for us, by sticking with us and providing their constructive feedback that in turn helped us improve our tech since our inception. Thanks to them and our investors, we will now be able to expand our services to all parts of India and across platforms as well,” said Manan Mittal, Co-founder & Tech Lead, The Gaming Project.
“With over 100 million online gamers, India alone is a two-billion-dollar market opportunity for the eSports industry. This market could be further extended if there is a solution built for smooth streaming without buying any expensive gaming rig. This is where our thought school aligned with what Sarang and Manan are building at ” The Gaming Project”. Their relentless focus on building the right quality of product while keeping customer supreme is what we think is a deadly combination for them to scale bigger and faster in the times to come” said Aditya Arora, CEO, FAAD Network.
“We as an organisation are focused on the trending and growing domains, and the gaming industry is evolving exponentially. AAA games will increase the existing gaming industry by billions. This is an important industry to be a part of. The team of The Gaming Project is very dedicated and has the vision of how to lead the industry to new heights. They are building something very exciting and unique and we are happy to be contributing to their journey.” said Mohamad Faraz, Founding Partner, Upsparks.
Speaking on why they have invested, Vineeta Gupta, VP-Investments, SucSEEDIndovation Fund, said “With adoption of cloud infrastructure and 5G roll out in India expected by end of 2022, the next big thing in making is – Cloud Gaming (which is expected to grow at 57% CAGR globally). We are excited about millennial gamers using The Gaming Project with on-demand games offering like Netflix for Games.”