Indian Online Dev Kreeda Gets Major Investment

Author: by Staff

According to a new India Times report, India-based MMO developer Kreeda Games has closed a round of investments, thought to be somewhere under $10 million from IDG Ventures and SoftBank China & India Holdings. The deal is to help fund the studio's online games, including forthcoming title Dance Mela. The VC groups have pegged the Indian online gaming market at a value on the order of $5.1 million dollars, said the India Times report. Kreeda's first title, Dance Mela is expected to be released in August, with a "complete Bollywood soundtrack," and expects to have "multi-millions" of subscribers by next year, as the firm expects the Indian online game market to expand majorly. Kreeda has no firm take on revenue models -- Dance Mela is said to be free to play, with monthly membership subscriptions, hourly charges, in-game advertising and in-game item sales planned for future games the developer says it will introduce when the market is "ready."