BangaloreMobius, a technology product company that develops gaming solutions announced today that new investors Naresh Naik, Kishore Ganji, and Rajesh Manthena will be making an investment in the company. Naresh is an ex MD at Morgan Stanley and currently runs Irep Credit Capital/ Kishore Ganji is a serial Angel investor and founder, CEO at Astir IT Solutions. He has invested in more than 90 startups and is a veteran in mentoring and building startups. Rajesh Manthena is a part of Hyderabad Angels and is a serial entrepreneur in the Healthcare business. Presently he is the vice chairman at AOI Hyderabad.
“Mobius’ ability to leverage best-in-class technology processes and deep industry expertise has enabled it to rapidly grow revenues. With its proven business model, Mobius has been able to scale better than its peers in the industry while being capital efficient. We are thrilled to have recently brought on board industry experts Prashanth Joshua and Arjun Agarwal to take this business to the next level. With their experience, we are confident of building Mobius into India’s most successful gaming company” said Naresh Naik
“We’ve made great progress over the past one year as evidenced by the platform’s consistent growth. This round of financing will be instrumental as we continue to invest in our technology, people, products, and customer acquisition in order to further fuel our growth..’’ said Prashanth Joshua – CEO Mobius. In the first year of business, Mobius was able to generate INR 25 crores in transactions on its gaming platform 777Games. This is an unparalleled feat in the gaming industry when compared to first-year growth rates.
We have established very healthy unit economics and have been able to scale our business funnels at very low user acquisition costs. This year we are launching new products on the platform and a next-gen upgrade which will position us as the best gaming platform in India. Our investment in building a tech stack that’s a niche to gaming and an incredible team with stellar backgrounds in Gaming, Fortune500 firms, IIT’s have been the key factors for our success.
Categories: Venture Capital