Mumbai-based game development startup GameEon Studios raises $1 million

Mumbai-based game development startup GameEon Studios has raised $1 million in a funding round led by SucSEED Indovation Fund, ICE VC, IAN, CD Equifinance, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, and Tal64.

Prior to this round, the startup raised $200,000 in a funding round in January 2022, led by IAN Group. The latest round brings its all-time raise to $1.5 million.

Purpose of fundraising

Founded by Nikhil Malankar (CEO) and Kaustubh Jadhav (COO), GameEon Studios plans to use the raised capital to accelerate the development of AA and AAA games for PC and console platforms. 

The studio has already developed other games, such as Kites Mumbai and Box Cricket, which have gained recognition for their blend of cultural elements and interactive storytelling.

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Focused on cultural storytelling

The startup is also set to release early chapters of its much-anticipated game, Mumbai Gullies, which reflects the vibrant culture of Mumbai.

Notably, it has been engaged in product prototyping and market testing, conducting trials across 12 countries and gathering insights from over 5,000 gamers worldwide

"Mumbai Gullies is more than just a game; it’s a celebration of Mumbai’s vibrant culture, and we’re thrilled to be building this experience for a global audience," said Malankar, who is also the CEO of GameEon Studios. 

"We believe in crafting experiences that resonate not just in India but across the world, and this funding will help us bring that vision to life."

Mrunal Jhaveri, Founder of ICE VC, said, “What excites me most about GameEon Studios is their bold vision to merge culturally rich narratives with world-class gaming mechanics. Mumbai Gullies is more than just a game, it’s an opportunity to showcase India’s vibrant culture to a global audience while setting new standards for the Indian gaming industry.”