Spill Games Raises Rs 100 Crore to Elevate Mobile Gaming

Bengaluru-based mobile gaming startup Spill Games has successfully secured approximately Rs 100 crore (equivalent to $10.5 million) through a Series A funding round, which was led by Elevation Capital, alongside contributions from existing investors Centre Court Capital and PeerCapital. Post this funding round, the company’s co-founders now collectively hold a 41.23% ownership in the firm. This financing round has valued Spill Games at around Rs 400 crore, indicating a significant increase of 3.5X from its seed valuation of Rs 115 crore in April 2026, when the company raised close to Rs 27 crore.

According to regulatory documents accessed by Startup Superb, Spill Games has issued 6,094 compulsory convertible preference shares (CCPS) at a price of Rs 1,65,110 per share, in addition to 10 equity shares. Elevation Capital contributed Rs 80 crore during this round, while Centre Court Capital and PeerCapital invested Rs 12.6 crore and Rs 8 crore, respectively.

Strategic Use of Funds

As stated in the filing, the newly raised capital will be directed towards scaling successful games, broadening the game portfolio, investing in user acquisition, enhancing its artificial intelligence and technology capabilities, and selectively recruiting talent. The company generates revenue from its games primarily through advertising and in-app purchases.

Founders and Company Background

Founded in 2024 by former executives from PlaySimple Games, Om Misra, Tapan Ranjan, and Harsh Garg, Spill Games is focused on developing an AI-driven mobile gaming studio, which targets free-to-play casual, puzzle, and hybrid-casual games for a global audience. Following this funding round, Elevation Capital has emerged as the largest external shareholder of Spill Games, holding a 20% stake, while Centre Court Capital and PeerCapital hold 11.78% and 8.93%, respectively. Other stakeholders include All In Capital and M-League Limited with 7.48% and 2.70% stakes, respectively. Furthermore, CRED founder Kunal Shah possesses a 0.68% share in the company.

The three co-founders maintain a collective 41.23% stake in Spill Games, with Misra owning 14.02%, while Garg and Ranjan each hold 13.61%.