Karnataka-based app developer Robosoft Technologies has raised $12 million in series B round led by private equity firm Ascent Capital with participation from existing investor Kalaari Capital. Ascent Capital has invested $10 million, while Kalaari Capital has put in the rest. The company had also received Rs 22 crore for their series A round in 2013 from Kalaari Capital.
As per a HinduBusinessLine report, the new funding will be used to bolster all the current offerings of the company across service segments as well as to invest in products and user acquisition. The company will also use the fresh funding to restructure itself into three separate companies with 99Games and Global Delight, however the deal structuring is still undisclosed. Besides, it also plans to build near-shore capabilities in the U.S., Europe and Middle East with these investments.
Robosoft Technologies was started in 1996 as a games developer for desktops, it has three subsidiaries. It also creates its own apps through 99Games and Global Delight. It has partnered with various global brands and has built over 1,400 apps across platforms in consumer mobility, enterprise mobility, and games & entertainment segments.
99Games will be expanding on to its two pronged strategy – building games through licensed IPs (largely for the Indian market) and creating own IPs for a global audience. Its immediate focus would be around driving user-acquisition focused marketing campaigns for Star Chef, the latest hit game from 99Games. While, Global Delight, focuses on the iOS and Apple platforms in the audio, video and image domains. Global Delight’s ‘Camera Plus’ has recorded over 27 million downloads.