Chinese venture capital firm Shunwei Capital is in advanced talks to make its debut investment in India, in gaming startup Mech Mocha Game Studios Pvt Ltd, a financial daily reported on Friday.
Shunwei Capital is investing $2 million along with venture capital firm Accel Partners, The Economic Times reported citing two people aware of the development.
Mech Mocha’s latest funding round is pegged at $3-4 million, though the final amount may change, the report said citing another person familiar with the matter.
The new funding round comes almost a year after the company raised $1 million from Blume Ventures and e-commerce firm Flipkart.
“We are in talks with multiple investors, we have conversations going on but nothing has been closed or confirmed yet. It’s very early stage and we are still figuring out our strategy but we will be targeting games for the Indian market,” Arpita Kapoor, co-founder, Mech Mocha, said in the report.
Kapoor had launched the startup along with Mohit Rangaraju in 2014. Mech Mocha’s first game, Puppet Punch, clocked 100,000 downloads in the first four days of launch in January 2015. The company develops and publishes freemium games, with Chhota Bheem–Himalayan Game being its first offering for Indian market.
In November 2016, The Economic Times had reported that Shunwei Capital was keen on investing in Indian startups in partnership with domestic VC firms. Shunwei invests in mobile Internet, Internet of things and tech companies.
Shunwei Capital had closed its third fund in July 2015 with a capital commitment of $1 billion, a report by Chinamoneynetwork.com said previously.
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