Bangalore-based offline game maker MadRat Games has raised around $1 million investment led by series of investors including Flipkart founder Sachin and Binny Bansal, Pine Labs and GlobalLogic.
Other investors who participated in this funding round include Sanjay Singh, Tarun Upadhyay and Manoj Agarwala.
MadRat Games was founded in 2010 by three IITians – Manuj Dhariwal, Rajat Dhariwal and Madhumita Haldar. It had previously raised $500,000 from First Light Ventures and Blume Ventures in December 2012.
The company plans to use the fresh investment raised for marketing, branding and expansion. MadRat Games CEO Rajat Dhariwal told ET that they plan to open an offline experience store in Bangalore and use customer data from retail stores for future marketing and product design.
MadRat Games focuses on educational board games and claims to have launched more than 70 game titles including Aksharit (Hindi word board game), Jigsaw puzzles like Worldopedia, Mysteries of Amazon, Statue of Liberty, The Great Pyramid and modular toys. The company claims to have sold more than 275,000 units until now.
“Innovation is at the core of MadRat’s approach to disrupt the market and led by a team of very talented individuals they enjoy a strong competitive advantage in the industry,” said Sachin Bansal.
MadRat is now selling through 2,000 stores across India.
