In its most recent investment round, which was headed by the SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, and Tal64, the game development startup GameEon has successfully raised $1 million.

Prior to this, the game development studio GameEon had raised $500K for market research and product prototyping. It carried out trials in 12 countries and gathered feedback from more than 5,000 players worldwide.

According to a press release from GameEon, the additional funding will be utilized to expedite the development of AA and AAA games for PC and console as well as the release of the first few chapters of Mumbai Gullies.

Nikhil Malankar and Kaustubh Jadhav co-founded GameEon in the year 2021. The company focuses in making immersive stories and culturally rich experiences for PC, console, and mobile games.

The Mumbai-based company claims to have created video games such as Box Cricket and Kites Mumbai.

The platform is also developing Mumbai Gullies, a game that combines game production with deeply ingrained cultural storytelling that is modeled after GTA Vice City.

According to market studies, the gaming business is predicted to reach $300 billion by 2026 and is still growing at a quick pace worldwide.

Speaking to this significant funding round, Mrunal Jhaveri, Founder of ICE VC states, “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.”