Bengaluru-based console gaming startup MetaShot has raised INR 11 crore in a combination of equity and debt financing, led by Sauce.vc, with additional backing from Sharrp Ventures and Panthera Peak Capital.
This follows the company’s previous fundraising round in which it secured $988K from IPV and other investors.
The latest funding will be used for team expansion, research and development (R&D), business growth, and brand building, as per a company statement.
Founded in 2021 by Prince Thomas, Ranjit Kumar Behera, and Ajith Sunny, MetaShot is focused on transforming the gaming landscape by bringing a console-gaming experience to a broader audience.
The company uses a homegrown, patent-pending technology.
Its flagship product, the Smart Bat, tracks a user’s real-world shots and translates them into virtual shots within the MetaShot game.
Launched in August 2023, the MetaShot Smart Bat is now available across India through various e-commerce platforms, quick commerce services, and offline retail channels.
The smart bat provides up to 6 hours of playtime, USB-C charging, and Bluetooth connectivity with mobile phones.
The company has also expanded into the Middle East and plans to enter the U.S. market soon.
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According to market research, the global console gaming market is valued at $50.9 billion and is expected to grow to $91.24 billion by 2033.
In India, the market stands at $2.2 billion, with projections indicating growth to $8.6 billion by 2028.
MetaShot aims to be a leading platform offering a wide variety of games that blend the physical and virtual worlds.
In the current financial year, the company expects a 5x revenue growth compared to the previous year and has already seen over 8 lakh matches played on its platform in a short time.
MetaShot is all set to be featured on Shark Tank India Season 4, following its appearance in the trailer!
