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November 19, 2014

Deal Alert: Flipkart founders invest in gaming start-up MadRat Games

Flipkart founders Sachin Bansal and Binny Bansal, have made an investment in an offline games start-up MadRat Games. The other investors who have participated in the funding round of about $1 million (about Rs 6.2 crore) include the founders of IT outsourcing firm GlobalLogic - Rajul Garg, Sanjay Singh, Manoj Agarwala and Tarun Upadhyay. MadRat, founded in 2010, started out by launching a Hindi word game Aksharit. The firm, which distributes its products primarily through offline stores, plans to use the funds for branding, marketing and expansion. Its existing investors Blume Ventures and First Light Ventures did not participate in this round. 

The company started by IIT graduates Rajat Dhariwal, Manuj Dhariwal and Madhumita Halder has launched over 70 board games, puzzles and toys. 

 
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