Metasports Interactive raised $20mn funding for its game

Chennai: Metasports Interactive, a mobile gaming company has raised $20 million in funding from London-based Metica to support the growth of its competitive multi-player cricket game.The capital will be deployed towards scaling marketing and user acquisition, as it targets the next phase of global expansion, the company said in a statement. The funding comes along with a technology partnership with Metica to optimise in-game revenue performance, strengthening the unit economics. With this funding, Metasports Interactive is targeting growth over the next 18 months through marketing key international markets, AI-led targeting strategies and investment in products. Co-founded by Kashyap Reddy and Keerti Singh, Metasports Interactive's title Hitwicket, has a player base of over 18 million users. It said it has higher monetisation metrics, player retention, and the consistent quality of its user acquisition data. "User acquisition funding, a new financing model, has been gaining momentum in the gaming and consumer apps industry. As user acquisition is one of the biggest cost factors for these companies, this offers non-dilutive ways to scale," said Kashyap Reddy, chief executive of the company. It is popular across the United States, Europe, and Southeast Asia and has become a standard tool for scaling mobile titles efficiently.
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