Dhruva Interactive To Raise $5 Million

Bangalore-based game development company Dhruva Interactive has been in the market to raise venture capital funds for sometime. It looks like they are close to clinching the deal now. The company is in advanced talks with a couple of VC funds including Clearstone Venture Partners and some global media houses to raise about $5 million, reports The Economic Times, quoting Rajesh Rao, the CEO.
Dhruva is essentially a game outsourcing company with three-fourth of the revenues coming from that line. The company has been nursing the ambition to become a game publisher and it hasn’t made much headway there unlike its Mumbai rival Indiagames. The latter -predominantly a mobile gaming company – recently moved to online gaming in a big way by tying up with telcos like Bharti Airtel and MTNL.
Dhruva is raising the new round to make games for Indian market, in other words, publish their own games and market them here. The company employs about 110 people in its Bangalore centre. The company had received $0.5 million funding from Eric Mottet, the co-founder of global game development company Atari, in 2001. Dhruva has been in operation for the last nine years.
Indiagames is also looking to raise about $25 million from VCs to bankroll its B2C online gaming play. The others who are in advanced stages of talks with VCs inlcude Hungama Mobile and Kreeda.

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