Mobile Gaming startup Mayhem Studios undisclosed funding from Lumikai
Bengaluru-based mobile gaming studio Mayhem Studios has secured an undisclosed amount of funding from Lumikai, a venture fund specializing in gaming and interactive media.
The startup intends to use the funds to scale its operations, advance game development, grow its team of developers, and enhance its technological capabilities.
Last year, Mayhem Studios secured roughly $20 million in funding from investors such as Peak XV Partners (formerly Sequoia India), Steadview Capital, Truecaller, and Hashed Emergent.
Mayhem Studios was founded by MPL in May 2022 with the goal of creating AAA mobile games for both domestic and international markets.
AAA games are high-budget titles recognized for their intricate gameplay and elaborate storylines.
Mayhem Studios' CEO Ojas Vipat mentioned,"Their extensive industry knowledge and expertise will be crucial as we aim to elevate India's gaming industry globally. Underworld Gang Wars is only the start of our ambitious vision to develop world-class games that connect with players around the world."
Mayhem Studios is currently working on its debut title, Underworld Gang Wars (UGW), a battle royale game steeped in Indian culture. UGW showcases iconic Indian locations, unique characters, and culturally significant elements, offering players a distinctive and immersive experience.
The game features two opposing gangs, The Velvets and The Bhokal Toli, and allows players to select from a range of weapons, including traditional Indian armaments, to participate in the battle royale.
Salone Sehgal, Founding General Partner at Lumikai, remarked, “Mayhem Studios' vision of creating a genuinely Indian experience and developing world-class gaming IPs from India aligns seamlessly with our belief in the potential of India's video gaming industry to captivate global audiences. We’re thrilled to support their journey and help bring this promising project to fruition.”
India's gaming market is expanding quickly, with the battle royale genre led by Krafton's 'Battlegrounds Mobile India' and Garena's 'Free Fire'. Other major titles include Epic Games' 'Fortnite', Microsoft's 'Call of Duty', and Respawn's 'Apex Legends'. Pune-based SuperGaming is also set to release an Indian battle royale game, 'Indus', on multiple platforms later this year.
Niko Partners reports that India's gaming market is the fastest-growing in Asia, with combined mobile, PC, and console revenue expected to hit $943 million in 2024 and exceed $1 billion in 2025. By 2028, the market is projected to reach $1.4 billion, growing at an 11.1% CAGR.
The startup intends to use the funds to scale its operations, advance game development, grow its team of developers, and enhance its technological capabilities.
Last year, Mayhem Studios secured roughly $20 million in funding from investors such as Peak XV Partners (formerly Sequoia India), Steadview Capital, Truecaller, and Hashed Emergent.
Mayhem Studios was founded by MPL in May 2022 with the goal of creating AAA mobile games for both domestic and international markets.
AAA games are high-budget titles recognized for their intricate gameplay and elaborate storylines.
Mayhem Studios' CEO Ojas Vipat mentioned,"Their extensive industry knowledge and expertise will be crucial as we aim to elevate India's gaming industry globally. Underworld Gang Wars is only the start of our ambitious vision to develop world-class games that connect with players around the world."
Mayhem Studios is currently working on its debut title, Underworld Gang Wars (UGW), a battle royale game steeped in Indian culture. UGW showcases iconic Indian locations, unique characters, and culturally significant elements, offering players a distinctive and immersive experience.
The game features two opposing gangs, The Velvets and The Bhokal Toli, and allows players to select from a range of weapons, including traditional Indian armaments, to participate in the battle royale.
Salone Sehgal, Founding General Partner at Lumikai, remarked, “Mayhem Studios' vision of creating a genuinely Indian experience and developing world-class gaming IPs from India aligns seamlessly with our belief in the potential of India's video gaming industry to captivate global audiences. We’re thrilled to support their journey and help bring this promising project to fruition.”
India's gaming market is expanding quickly, with the battle royale genre led by Krafton's 'Battlegrounds Mobile India' and Garena's 'Free Fire'. Other major titles include Epic Games' 'Fortnite', Microsoft's 'Call of Duty', and Respawn's 'Apex Legends'. Pune-based SuperGaming is also set to release an Indian battle royale game, 'Indus', on multiple platforms later this year.
Niko Partners reports that India's gaming market is the fastest-growing in Asia, with combined mobile, PC, and console revenue expected to hit $943 million in 2024 and exceed $1 billion in 2025. By 2028, the market is projected to reach $1.4 billion, growing at an 11.1% CAGR.
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