Mumbai : Mumbai-based Indiagames.com is set to go in for second round of funding of around $2 to $3 million. The company which has acquired rights from the BR TV to develop games based on Mahabharat hopes to achieve a turnover of Rs 1.50 crore by the end of current fiscal and break even in next eight to nine months.Indiagames.com chairman and CEO Mr Vishal Gondal told The Financial Express at the sidelights of TiEcon India 2000 conference that the company has been holding talks with the Indian and foreign venture capital funds for funding arrangements. "We are quite optimistic to arrange for such funds shortly," he added.
However, Mr Gondal declined to divulge further on this front on the grounds that it was at the state of negotiations.Mr Gondal said that the indiagames.com which has been ranked 7th amongst the 10 hottest sites has been valued at $20 million.
He said that the company would focus on development of digital computer gamesfor the Internet, CD-ROMs, broadband cable, touch screen kiosks and other handheld gadgets. He added that the company which had entered into a technical tie-up with the Zee TV had supplied whole technology for the recently introduced TV game show "Sawal Dus Crore Ka." "The technology has been totally developed here and we are planning to enter into supply of such technologies to various other TV companies in future," he added.
Mr Gondal said that the digital games based on Mahabharat would be out in next six months, adding that his company would like to produce and market games based on mythological themes in future.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.