Console gaming startup MetaShot has raised Rs. 11 crore through a combination of equity and debt financing, led by Sauce.vc, with participation from Sharrp Ventures and Panthera Peak Capital. Previously, the Bengaluru-based company secured $988K from Inflection Point Ventures and other investors.

According to a press release, the funds will be used for team expansion, research and development, growth initiatives, and brand building.

MetaShot was founded in 2021 by Prince Thomas, Ranjit Kumar Behera, and Ajith Sunny to make console gaming accessible to a wider audience through innovative, homegrown technology.

The company’s flagship product, the MetaShot Smart Bat, tracks real-world shots and converts them into virtual shots within the MetaShot game. The technology is backed by a pending patent.

The startup began selling the Smart Bat in August 2023, and it is now available across India via e-commerce platforms, quick commerce channels, and offline stores. MetaShot recently entered the Middle Eastern market and plans to launch in the USA soon. The company was also featured in the Shark Tank India Season 4 trailer.

"MetaShot has already witnessed over 8 lakh matches in a short span, highlighting strong customer interest in this unique blend of physical and virtual gaming," said Thomas, CEO of MetaShot.

Globally, the console gaming market is valued at $50.9 billion and is expected to grow to $91.24 billion by 2033. In India, it is currently worth $2.2 billion and is projected to reach $8.6 billion by 2028.

MetaShot envisions becoming a platform offering a variety of games that blend the physical and virtual worlds. The startup expects to achieve 5x revenue growth this fiscal year and has recorded over 8 lakh matches on its platform in a short time.