Debt financing
Gaming studio Hitwicket raises $20-M from Metica
Hyderabad-based sports gaming studio Hitwicket has raised USD 20 million in “user acquisition” funding from London-based Metica.Founded in 2020 by Kashyap Reddy and Keerti Singh, Hitwicket - operated by Metasports Interactive - is a multiplayer cricket game with over 18 million users across 109 countries. The company plans to use the new funds to accelerate global growth, focusing on scaling marketing and user acquisition. Metica will also use its platform to optimise Hitwicket’s in-game revenue performance through advertising and in-app purchases.Prior to this, the startup had raised USD 8 million from investors including Prime Venture Partners, Singapore's Horizon Ventures and Harsha Bhogle.
For FY25, Hitwicket had reported about INR 24 Cr in Operating Income and about INR 13 Cr in Net Loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
