Metasports Interactive Secures $20 Million Investment from London-Based Metica
Metasports Interactive Secures $20 Million in User Acquisition Funding
Metasports Interactive, the developer of the popular multiplayer cricket game Hitwicket, has announced a $20 million user acquisition funding from Metica, a London-based growth financing company. This significant investment was disclosed on April 27, 2023, and will be used to accelerate Hitwicket's global growth, focusing on scaling marketing and user acquisition.
The capital will also be utilized to deploy Metica's proprietary platform, which will optimize Hitwicket's in-game revenue performance through advertising and in-app purchases, and strengthen its unit economics. This move is expected to drive the company's growth over the next 18 months, with a target of roughly 8x increase.
Founded in 2020 by Kashyap Reddy and Keerti Singh, Metasports Interactive has established a substantial player base of over 18 million users across 109 countries with its flagship title Hitwicket. The startup has previously raised $8 million from investors such as Prime Venture Partners and Singapore's Horizon Ventures, and also counts renowned cricket commentator Harsha Bhogle as an investor.
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This partnership with Metica will enable Metasports Interactive to move faster in international markets without diluting ownership, aligning with its vision to reach over a billion cricket fans globally and build a truly world-class gaming business from India.
| Funding Round | Amount | Company |
|---|---|---|
| Previous Funding | $8 million | Metasports Interactive |
| Current Funding | $20 million | Metasports Interactive |
| LightFury Games Funding | $11 million | LightFury Games |
In contrast, Bengaluru-based LightFury Games recently raised $11 million in funding from India's top cricketers and firms, with a focus on building a big-budget cricket title, E-Cricket, set to debut later this year. Other local cricket titles include Dream Sports' Dream Cricket, Krafton-owned Nautilus Mobile's Real Cricket, and Nazara Technologies-owned Nextwave Multimedia's World Cricket Championship.
Metica's user acquisition funding model, which has become popular across the United States, Europe, and South-East Asia, is designed specifically to fuel paid marketing initiatives. The company's CEO, Phil Mohr, stated that user acquisition funding is reserved for companies that demonstrate strong unit economics and repeatable growth, and Metasports Interactive stood out due to Hitwicket's ability to scale efficiently across both India and global markets.
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Investor Takeaway
Investors should consider the growth potential of Metasports Interactive, especially with its focus on scaling marketing and user acquisition.
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