Gaming startup MetaShot secures Rs 11 crore funding from Sauce.vc, others

MetaShot, a Bengaluru-based console gaming startup, has secured Rs 11 crore in equity and debt funding to support its expansion. The investment round was led by early-stage venture capital firm Sauce.vc, along with Sharrp Ventures and Panthera Peak Capital.

The newly acquired funds will be utilized to strengthen MetaShot’s team, advance research and development, drive growth, and enhance brand-building efforts. Established in 2021 by Prince Thomas, Ranjit Kumar Behera, and Ajith Sunny, MetaShot has developed a smart metaphysical cricket bat designed to offer players a console-like gaming experience.

This Smart Bat incorporates advanced sensors that track a player’s real-world movements, converting them into virtual gameplay within the MetaShot ecosystem. According to Manu Chandra, Partner at Sauce.vc, MetaShot’s innovative approach makes gaming more social, accessible, and engaging across all age groups, making it an ideal product for gifting and export markets.

Launched for sale in August 2023, MetaShot’s Smart Bat is currently available across India through e-commerce, quick commerce, and offline retail channels. The company has recently expanded to the Middle East and is preparing to enter the U.S. market, aiming for a fivefold revenue increase this financial year.

Since its launch, MetaShot has recorded over 8 lakh matches, highlighting strong customer interest in its unique blend of physical and virtual gaming. Co-founder Prince Thomas envisions MetaShot evolving into a platform that hosts a wide variety of games, seamlessly integrating real-world actions with digital gameplay.

The global console gaming industry, currently valued at $50.9 billion, is projected to grow to $91.24 billion by 2033. In India, the market, currently worth $2.2 billion, is expected to expand to $8.6 billion by 2028, reflecting the immense growth potential for innovative gaming solutions like MetaShot.

Source: Money Control