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Bengaluru-based mobile gaming studio Mayhem Studios raises funding from Lumikai

IndianStartupNewsIndianStartupNews · 11m ago
Bengaluru-based mobile gaming studio Mayhem Studios raises funding from Lumikai
Medial

Bengaluru-based mobile gaming studio Mayhem Studios has secured an undisclosed amount of funding from Lumikai, a venture fund focused on gaming and interactive media. The capital injection will be used to scale operations, enhance game development, expand the development team, and improve technological capabilities. Mayhem Studios previously raised around $20 million from investors including Peak XV Partners, Steadview Capital, Truecaller, and Hashed Emergent. The company is currently working on its first title, a battle royale game called Underworld Gang Wars, which incorporates Indian culture and characters. India's gaming market is experiencing rapid growth and is projected to reach $1.4 billion by 2028.

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Lumikai invests in MPL’s Mayhem Studios

EntrackrEntrackr · 11m ago
Lumikai invests in MPL’s Mayhem Studios
Medial

Mayhem Studios, a mobile game development studio by MPL (Mobile Premier League), has secured an undisclosed amount of investment from Lumikai. The platform is backed by investors including Peak XV Partners (previously Sequoia India), Steadview Capital, Truecaller, Hashed Emergent, Base Partners and Moore Strategic. Mayhem Studios had previously raised $20 million in Series A round co-led by its existing investors back in April last year. The proceeds will be allocated towards scaling their operations, accelerating game development, expanding its team of developers, and enhancing technological capabilities. Mayhem Studios said in a press release. Launched in 2022 by Ojas Vipat, Mayhem Studios is a gaming platform and currently developing its flagship product, Underworld Gang Wars (UGW), a AAA battle royale game. UGW integrates Indian culture and aesthetics into the gameplay. The game features iconic Indian locations, distinctive characters, and culturally relevant elements, offering players a fresh and immersive experience. According to the Bengaluru-based company, it has exited the closed beta for the game in May this year and is planning for open beta and claims to have 7.5 million registrations on its platform. The other notable startups in this space are Ubisoft, Zynga, Playsimple, Moon Frog, Playmotion, et al. Lumikai is an interactive media and gaming focused venture fund which has backed prominent startups like Bombay Play, Elo Elo, All Star Games, Supernova, Autovrse, Vobble and others.

VC Lumikai eyes 10-12 deals via India Fund-II

Economic TimesEconomic Times · 1y ago
VC Lumikai eyes 10-12 deals via India Fund-II
Medial

Lumikai, a gaming and interactive media venture capital firm, plans to make 10-12 investments in pre-seed and Series A companies from its $50 million India fund II. The firm currently has $58 million in assets under management from 15 portfolio companies, with over 70% of them generating revenue. Lumikai is focused on interactive media sub-sectors, including content, platforms, tools and technology infrastructure, and systems of play. The Indian gaming industry has seen increased interest from various investors, leading to a surge in game development studios and the return of experienced talent. However, Lumikai sees limited potential in real money gaming and has adjusted its growth forecast for the sector.

Lumikai leads $1.2 Mn seed round in AskMyGuru

EntrackrEntrackr · 2m ago
Lumikai leads $1.2 Mn seed round in AskMyGuru
Medial

Interactive spiritual-tech platform AskMyGuru has raised $1.2 million in a seed funding round led by interactive media and gaming VC fund Lumikai, which invested $800K, along with participation from MPL and select angels, including ex-Match Group Americas CEO Amarnath Thombre. The proceeds will be utilized to enhance the product roadmap, advance its proprietary Ved Vyas AI engine, and expand language support beyond English, Hindi, Kannada, Tamil, and Telugu, AskMyGuru said in a press release. Co-founded in 2025 by Krishna Mohan Vedula and Vivek Sadamate, AskMyGuru is rooted in the teachings of the Vedic Shastras and aims to reimagine spirituality and astrological guidance through new-age interactive experiences. The platform blends AI, gamification, and deeply researched Indic knowledge systems to shape a new genre of spiritual tech that is both culturally resonant and globally relevant. AskMyGuru aims to redefine the spiritual industry for the digital age while empowering gurus with sustainable income through the platform. It reimagines spiritual guidance as an immersive digital journey, creating meaningful connections through thoughtfully designed interactions. The startup embodies “Systems of Play,” i.e., products disrupting legacy industries with lean-forward, interactive, and gamified experiences. AskMyGuru also plans to deepen its domain expertise across financial, relationship, and career guidance. It may compete directly or indirectly with other platforms in this space, such as Astrosage and Astrotalk. Lumikai is an interactive media and gaming VC that invests in companies at the intersection of technology, culture, and new media. It has backed some of India’s leading interactive media companies, including Elo Elo, Bombay Play, All Star Games, Studio Sirah, Supernova, Autovrse, Vobble, and Mayhem Studios, amongst others.

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