Indian MMO firm gets investment boost

Indian MMO firm gets investment boost
Michael French

By Michael French

June 14th 2007 at 2:45PM

Kreeda gets backing from IDG Ventures and SoftBank China & India Holdings.

India's Kreeda games has received investment cash from IDG Ventures and SoftBank China & India Holdings.

Kreeda is focused on making MMOs and recently launched a portal - the money will help its projects including the upcoming game Dance Mela, a Bollywood rhythm action title.

A report in the India Times points out that the investment is less than $10m. The investors say the Indian online games market is worth over $5m already, and Kreeda execs and its new VC friends say they hope to echo the growth of the Chinese and Korean markets.

Kreeda's business model advocates a mix of monthly subs, hourly charges and in-game advertising and item sales. Dance Mela will launch with a free to play model.