Virtual Worlds News: Two VCs Invest in Indian Virtual World Game Developer

June 14, 2007

Two VCs Invest in Indian Virtual World Game Developer

IDG Ventures and SoftBank China & India Holdings have invested in Kreeda Games, a massively multiplayer virtual world online game development company, reports The Economic Times. The exact figure is unknown, but the sum has been said to be less than $10 million. By the end of the year, Kreeda plans to release three games sourced from other countries and localized for India.

Kreeda plans to generate revenue from monthly subscriptions, hourly charges, advertising, and microtransactions. The first game, Dance Mela, is free to play with options to customize the user's avatar and enhance play.

Joey Seiler
www.VirtualWorldsNews.com
joey (at) showinitiative.com
(512) 535-8650
skype: joey.seiler.vwnews

Posted at 04:16 AM in Investment | Permalink

Technorati Tags: India, Kreeda, VC

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