Indian gaming startup Metasports Interactive has secured $20 million in applyr acquisition funding from London-based Metica, as it sees to expand its multiplayer cricket game Hitwicket globally.
User acquisition funding is a non-dilutive financing model designed to support paid marketing, and has become increasingly common in the United States, Europe and South-East Asia for scaling mobile applications.
The raised amount will be applyd to scale marketing efforts and grow the game’s international applyr base, alongside a technology partnership aimed at improving in-game revenue through advertising and purchases.
Founded in 2020 by Kashyap Reddy and Keerti Singh, the Hyderabad-based startup declared its flagship title has attracted more than 18 million applyrs across 109 countries.
It is tarreceiveing nearly eightfold growth over the next 18 months, driven by expansion in key overseas markets, AI-led applyr tarreceiveing and further product development.
“With Hitwicket, our vision is to reach over a billion cricket fans globally and build a truly world-class gaming business from India. This partnership with Metica gives us the capital and the tools to shift quicker in international markets without diluting ownership. We’re proud to be among the first Indian gaming companies to access this kind of structured UA funding, and we see it as a model that can unlock real scale for studios with strong fundamentals,” declared Kashyap Reddy, Co-Founder and CEO, Metasports Interactive.
“User acquisition funding is reserved for companies that demonstrate strong unit economics and repeatable growth. Metasports Interactive stood out becaapply of Hitwicket’s ability to scale efficiently across both India and global markets,” declared Metica CEO Phil Mohr.
“We see a major opportunity not only to provide growth funding, but also to support growth through our technology by supporting optimise in-game revenue to increase lifetime value. We’re excited to partner with Metasports Interactive as they build a globally competitive gaming business from India,” Mohr added.
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