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Indian Angel Network (IAN) has announced investment in HashCube, a Bangalore-based social gaming company.
The New-Delhi-based investor group is said to have invested around Rs 5 crore in the company. The venture fund said it would announce its futher investment plans later this month.
IAN investors who participated in the funding are Mr Sharad Sharma, Mr Rajan Anandan and Mr Hemant Kanakia.
HashCube, founded by Mr Deepan Chakravarthy and Mr Ramprasad Rajendran, makes puzzle games such as Sudoku Battle and Sudoku Quest on social networking sites and mobile platforms. Currently, it has over 2 million users and fresh funds will be used for promoting and expanding its portfolio.
Mr Sharad Sharma, the IAN member who joins the HashCube board said, “Hashcube has the potential to be one of the big winners. We were impressed by their passion for relentless improvements in their games portfolio.”
Blume Ventures, an angel and seed venture fund that backs start-ups with funding as well as mentoring, has co-invested with IAN in HashCube.
IAN has over 200 members and funded over 35 start-ups across multiple sectors like IT, mobile, healthcare and education, both in India and overseas.
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