MojoStreet.com Raises Rs. 1.5 Crore in seed Funding
Date: Tuesday , May 03, 2011
MojoStreet.com, a location-based mobile gaming startup raised Rs. 1.5 crore in seed funding. The Hyderabad based start up raised this amount from Srini Koppolu, who was the former Managing Director of Microsoft India and JA Chowdary, who was the former Managing Director of Nvidia India. The company plans to use this funding for hiring new talent that will help them in their launch of the beta version of their application.
Founded by Kalyan Manyam, who had earlier launched Indian social network Indyarocks.com, Mojostreet’s first product is a location-based app, which will allow users to check in at various points of interests in a game format. At launch, Mojostreet will be available in 5.5 million locations in India. The company is also planning to launch its products in the U.S. and Singapore in the near future.
Presently MojoStreet.com is in stealth mode. The company will remain so until the end of May when the private beta version will be released. It has partnered with several major national retail outlets in India to provide real world offers like friend finder service, city guide, social networks and various rewards including virtual currency called the ‘Mojo bucks’ to complement the virtual gaming experience.