India-based mobile game developer Gamepind has secured $16m in funding from mobile commerce platform One97 Communications and lottery and gaming platform AGTech Holdings.
Formed as a subsidiary of Acumen Game Entertainment, a joint venture between One97 and AGTech, Gamepind develops casual and social quiz games that are available through One97’s Paytm commerce app, and which offer loyalty rewards based on gameplay.
The funding was announced alongside the appointment of Sudhanshu Gupta, a former Paytm vice-president who played a significant role in the creation of its online marketplace. as Gamepind’s chief operating officer.
Madhur Deora, Paytm’s chief financial officer, said: “Gamepind has ambitious and innovative plans for the fast-growing mobile gaming ecosystem in India.
“Sudhanshu has been with Paytm for over five years and I am delighted to welcome him as chief operating officer of the Gamepind team. I am confident that under his leadership Gamepind will grow to become the market leader in the gaming industry in India.”