The Hindu Business Line : Games2win raises $5 m from Clearstone, SVB Financial

Mumbai March 29 Games2win India has raised around $5 million from venture capital firms Clearstone and SVB Financial Group. Clearstone is the lead investor in the company.

"The investments received will be used to bring international games into India, build infrastructure, team building, joint ventures with companies in India and also for building downloadable games that can be sold worldwide," said Mr Alok Kejriwal-Founder and CEO of Games2win.

Two directors from Clearstone will be on the board of Games2win following the fund raising.

Unique Blend

"Internet users in India are still highly underserved when it comes to online entertainment that's relevant and compelling.

With its unique blend of topical, irreverent and action-packed games we are confident that Games2win will be a dominant player in the rapidly growing online gaming marketplace in India," said Mr Rahul Khanna, Director, Clearstone.

Games2win India Pvt Ltd was spun out as a separate entity in late 2006 from Contests2win.com.

India as a stand-alone business in the online gaming marketplace, Games2win has been operating its casual games Web site, www.games2win.com for the past 6 months.

The site attracts Indian and international gamers who are served exclusive games created by in-house studios of g2w.