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Mobile gaming company Homa Games has reportedly raised USD 50 million in a Series A round led by early-stage venture capital fund, Northzone. The funding round comes just seven months after its seed round which was led by Eurazeo and Headline.
Homa Games is planning to recruit over 100 people in the next 12 months to double down on its tech vision, complete new strategic acquisitions, and partner with global brands such as Hasbro.
The company recently hit a record high of 500 million installs, which marked a 50% increase from February 2021, when it had managed to generate 250 million downloads.
Homa Games mainly focusses on the development of casual, hypercasual, and board games segment of the mobile gaming sector that requires a technology-driven and methodical approach. The startup has created its own tech stack that boosts the performance of each game.
This makes the process highly convenient, as game developers can build a prototype using Unity and present it to Homa Games, after which, the company can test the viability of each prototype and then publish it on Play Store & App Store.
It is worth noting that hypercasual mobile games allow developers to substantially shorten the development period of a game and focus on one key concept that will make it highly enticing to users. All of Homa Games’ highly successful launches that were listed in the top 20 most downloaded games in the Play Store and App Store have been developed in eight days or less, cited credible sources.
According to the company, the hypercasual games are monetized through interstitial ads, subscriptions, and in-app purchases. Players are given the option to watch an ad to progress faster in the game.
The company has released a total of 40 games to date. It recently hit a record high of 500 million installs, which marked a 50% increase from February 2021, when it had managed to generate 250 million downloads. It expects to release 20 more games by the end of this year.
Source Credits –
https://techcrunch.com/2021/10/10/mobile-gaming-startup-homa-games-raises-50-million/
Shikha currently manages the content team at BuinessNewsUpdate. An electrical & electronics engineer by education, she has prior experience in content & technology writing, content marketing, market research, and business development domains. Her other interests inclu Read more...
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