Cloud Gaming Platform Gaming Project Raises Half a Million Dollars in Seed Funding
The Gaming Project, India’s first cloud gaming platform, has raised $500,000 in seed funding from leading network FAAD along with Upsparks, BlackKite, SucSEED Indovation Fund among others. The round also saw participation from platforms like MaGEHold & Hem Angels.
Cloud gaming is a form of online gaming where the game runs on remote servers. Users can play any game they want without the hassle of having expensive physical gaming rigs.
The Gaming Project (TGP) democratizes access to AAA games with its cloud gaming platform that allows users to play any video game / AAA game on any device (mobiles, laptops). Such devices, even with modest configurations, can take advantage of TGP to play the most advanced console/PC games. Since March 2020 when The Gaming Project went live, it has registered over 300,000 users on its platform without any promotions.
The Gaming Project was aided by A&W Capital, a sports and gaming investment bank, and Huddle, an industry-independent accelerator for early-stage startups.
“Our goal until our first increase was to make sure we were spending as few resources as possible, but at the same time to reach a product market that was appreciated by all members of the gaming community and to really respond to whether cloud gaming is possible in India or not,” said Sarang Atri, co-founder of The Gaming Project.
“Since the beginning of our project, the inevitable question that always arose was whether the Internet infrastructure was good enough for this technology. Fortunately, our customers answered this question for us, by sticking with us and by providing their constructive feedback which in turn has helped us to improve our technology since our inception. Thanks to them and our investors, we will now be able to expand our services to all parts of India and across all platforms,” said Manan Mittal, co-founder and technical lead of The Gaming Project.
“With over 100 million online gamers, India alone represents a two billion dollar market opportunity for the esports industry. This market could be further expanded if there is a solution designed to smooth streaming without buying an expensive gaming rig. This is where our school of thought aligned with what Sarang and Manan are building at “The Gaming Project”. Their relentless focus on creating good product quality while keeping the customer supreme is what we believe is a deadly combination for them to scale bigger and faster in the times to come,” said Aditya Arora, CEO of FAAD Network.
“As an organization, we focus on hot and growing areas, and the gaming industry is growing exponentially. AAA games will increase the existing gaming industry by billions. This is a important industry to be a part of. The team at The Gaming Project are very dedicated and have a vision of how to take the industry to new heights. They are building something very exciting and unique and we are happy to contribute to their journey,” said Mohamad Faraz, Founding Partner, Upsparks.
Explaining why they invested, Vineeta Gupta, Vice President of Investments, SucSEEDIndovation Fund, said, “With the adoption of cloud infrastructure and the deployment of 5G in India expected by the end of 2022, the next big thing to do is – Cloud Gaming (expected to grow at a CAGR of 57% globally). We’re excited for millennial gamers to use The Gaming Project with on-demand gaming offerings like Netflix for gaming.