financetom
Business
financetom
/
Business
/
QuriousBit to utilise $2 million seed fundraise for hiring and developing tech infrastructure
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
QuriousBit to utilise $2 million seed fundraise for hiring and developing tech infrastructure
Sep 27, 2023 2:05 PM

QuriousBit, a casual puzzle game development studio, has secured $2 million in seed funding from Lumikai and General Catalyst.

In an interview with CNBC-TV18, Ramakrishna Reddy Y L, the founder of QuriousBit, shared their plan to use the funds to assemble a top-notch team and establish a robust technological infrastructure to withstand market fluctuations.

"We are going to use these funds to get a stellar team on board. We are also very clear about hiring people who fit with our culture. We will also be investing a lot of our energies, time and money in building tech infrastructure and analytical systems to make us immune to the changes in the market," Reddy said.

Notably, both of QuriousBit's founders, Ramakrishna Reddy Y L and Shubham Joshi, were previously key members of the core team at Playsimple. In 2021, Playsimple Games was acquired by MTG for a sum exceeding $500 million.

QuriousBit's ambition is to replicate the successful strategies employed by breakout puzzle games within various sub-genres of the casual gaming market, which remain largely untapped and underserved.

Reddy also mentioned that their monetisation strategy would involve leveraging in-app advertisements and in-app purchases.

In a separate development, Vahdam India, a home-grown tea and wellness brand, has expanded into the omnichannel space by launching its inaugural experience store in Delhi.

This store offers an immersive experience, showcasing Vahdam's extensive range of high-quality teas, drinkware, accessories, and more. CNBC-TV18's Aishwarya Anand provides a tour of what the Vahdam India tea room has to offer.

Watch accompanying video for more.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Seagate Technology to Acquire Intevac for $4 per Share in Cash; Intevac Shares Rise Pre-Bell
Seagate Technology to Acquire Intevac for $4 per Share in Cash; Intevac Shares Rise Pre-Bell
Feb 13, 2025
09:00 AM EST, 02/13/2025 (MT Newswires) -- Seagate Technology ( STX ) has agreed to acquire Intevac ( IVAC ) in an all-cash deal for $4 per share, the companies said Thursday. The deal is expected to close in late March or early April, according to the companies. Seagate ( STX ) and Intevac ( IVAC ) said that in...
Oil Price Fall as Trump and Putin Plan Talks to End Russia's War on Ukraine
Oil Price Fall as Trump and Putin Plan Talks to End Russia's War on Ukraine
Feb 13, 2025
09:01 AM EST, 02/13/2025 (MT Newswires) -- Oil prices fell to a seven-week low early on Thursday despite a boost to the International Energy Agency's 2025 demand-growth forecast as the prospect for an end to Russia's war on Ukraine eased a geopolitical risk premium in place for the past three years. West Texas Intermediate crude oil for March delivery was...
CyberArk Software Acquires Zilla Security
CyberArk Software Acquires Zilla Security
Feb 13, 2025
09:01 AM EST, 02/13/2025 (MT Newswires) -- CyberArk Software ( CYBR ) said Thursday that it has acquired Zilla Security for an enterprise value of $165 million in cash and $10 million linked to certain milestones. Shares of the company were up 5.6% in recent premarket activity. ...
VinFast speeds up EV deliveries but struggles to sell outside Vietnam
VinFast speeds up EV deliveries but struggles to sell outside Vietnam
Feb 13, 2025
* VinFast delivers 97,000 EVs in 2024, beats revised-down target * Most sales were in Q4 of 2024, plans to double sales this year * Only about 10% of total sales were outside Vietnam By Phuong Nguyen HANOI, Feb 13 (Reuters) - Vietnamese electric vehicle maker VinFast said on Thursday it delivered about 97,000 cars last year, nearly three times...
Copyright 2023-2026 - www.financetom.com All Rights Reserved