Gaming startup LightFury raises $8.5 million funding led by VC firm Blume Ventures

LightFury, a gaming startup, has raised $8.5 million funding in its first external round, the company announced on Wednesday, April 17. The round was led by VC firm Blume Ventures and other key investors.

Other investors who participated in the funding round include MIXI, Gemba Capital, and Angels, with participation from individuals such as Kunal Shah and Gaurav Munjal.

The gaming company plans to use the money to build AAA titles and get top talent for their studios in India and the UK.

AAA games, known for their high level of polish and quality, are developed by top gaming studios with significant financial and technical resources.

"The ability to piece together the talent and bring in believers from the gaming and consumer universe make it one of the most exciting investments we've made in this space," said Karthik Reddy, co-founder and managing partner at Blume Ventures.

LightFury was founded by former Unacademy chief marketing officer Karan Shroff, gaming industry veteran Anurag Banerjee, and Tina Balachandran, former executive of Unacademy and Tencent Games.

"The size of the gaming market in India is on the rise and it is an excellent time for us to bring our expertise into the industry," said Karan Shroff.

"We intend to utilise the capital to hire top-tier talent in the country to put India on the global map," Shroff added.