Flipkart, Globallogic & Pine Labs invest 1 million in MadRat games

Flipkart, Globallogic & Pine Labs invest 1 million in MadRat games

Author | exchange4media News Service | Friday, Nov 21,2014 10:58 AM

 Flipkart, Globallogic & Pine Labs invest 1 million in MadRat games

MadRat games has raised around 1 million in a round of funds from Sachin and Binny Bansal (founders of Flipkart) and Pine Labs and Globallogic. The amount will be used mainly for branding, marketing and expansion. Other investors include the founders of IT outsourcing firm GlobalLogic - Rajul Garg (Also Co-Founder of SunStone Business School), Manoj Agarwala, Sanjay Singh and Tarun Upadhyay.

MadRat Games provide innovative toys & games to engage kids and help in their overall development. Since inception in 2010, the company has sold over 275,000 units and has partnered with Nokia, Google, Intel, Cornell & Government of India for original game development.  They have launched 70+ game titles in last year. The company has earlier raised a round of funding in 2012 from Blume Ventures and First Light Ventures.

Expressing the company’s view, Rajat Dhariwal, CEO MadRat Games said “The toys & games industry in India is pre-historic with no major product or business innovation since the last decade. The big global players dump age-old products in the country and the small local players sell cheap replicas. The game form factors have not changed, there is absolutely no use of new technologies and the focus on learning is extremely low. Hence, a huge potential of game-based learning market has remains untapped. MadRat games aims to tap this market and encourage a patient and joyful form of parenting.”

Commenting on the investment, Sachin Bansal, Flipkart said, “Innovation is at the core of MadRat’s approach to disrupt the market and led by a team of very talented individuals they enjoy a strong competitive advantage in the industry. The whole industry is likely to benefit from this disruption.”

Rajul Garg, co-founder of GlobalLogic and Sunstone Business School, also an investor in the round said “Our country is in a dire need of innovations in education, in this case, through toys and games for children.  I am confident in the MadRat Games team's ability to capture this space and build a formidable business.”

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