Highlights
MetaShot Secures Rs 11 Crore in Funding
The console gaming startup MetaShot has successfully raised Rs 11 crore through a mix of equity and debt financing, with Sauce.vc leading the investment alongside Sharrp Ventures and Panthera Peak Capital. Previously, the Bengaluru-based firm had raised $988K from Inflection Point Ventures and other investors.
According to a press release from MetaShot, the funds will be allocated towards the following:
- Team Expansion
- Research and Development (R&D)
- Business Growth
- Brand Development
About MetaShot
Founded in 2021 by Prince Thomas, Ranjit Kumar Behera, and Ajith Sunny, MetaShot’s goal is to revolutionise the gaming sector by making console gaming accessible to a larger audience through proprietary technology that is currently awaiting patent approval. The company’s innovative product, the Smart Bat, captures a user’s physical shots and converts them into virtual shots within the MetaShot game.
MetaShot began selling the Smart Bat in August 2023, and the product is now widely available across India via e-commerce platforms, quick commerce services, and offline retail channels. The company has also recently ventured into the Middle East and intends to expand into the USA shortly. Notably, MetaShot featured prominently in the trailer for Shark Tank India Season 4.
Market Insights
Market research indicates that the global console gaming industry is currently valued at $50.9 billion, projected to grow to $91.24 billion by 2033. Within India, this market stands at $2.2 billion, with a growth forecast reaching $8.6 billion by 2028.
Future Aspirations
MetaShot aims to develop a comprehensive platform featuring a wide variety of games that blend the physical and digital realms. The startup anticipates a remarkable growth rate, projecting a fivefold increase in revenue this financial year compared to the last. Additionally, it claims to have facilitated over 800,000 matches on its platform in a relatively short timeframe.