Multi-game platform Web3 Circle of Games (COG) announced it has raised US$1 million in equity funding from strategic investors Nazara Technologies FZ LLC (a 100% subsidiary of Nazara Technologies Limited) and Swiss organization The Hashgraph Association.
COG intends to use the new funding to accelerate its go-to-market strategy, improve platform capabilities and expand its international presence in the US, EU, Middle East, Africa and Asia in 2024.
Nazara recently announced that it has pledged to invest $100 million in successful and innovative brands and IPs using cutting-edge technologies in the areas of Web3, virtual reality and AIspace.
Rabilal Thapa, CEO and co-founder of Circle of Games, said: “This strategic partnership not only represents significant support for COG's mission and potential, but also puts the company in a prime position to leverage Web3's vast gaming innovation capabilities worldwide. «
“This collaboration goes beyond mere capital investment; Nazara will offer strategic guidance, support and access to its extensive network to help the company grow, while Hedera will provide COG with access to its vast game collections, ecosystems and significant users, as well as their cutting-edge technology,” he added.
Circle of Games founded in 2022 by Rabilal Thapa (CEO), Rajeev V.K.. (CTO) and Rohit Tiwari (Marketing Director), has amassed over 250,000 registered Android users and is rapidly expanding its user base. The platform plans to launch its app on iOS devices by the second quarter.
The platform also plans to expand its gaming portfolio from the current six games to over ten games by the fourth quarter of 2024.
COG's clientele spans a global network of web3 projects and ecosystems such as Chingari, Solana, Foundership, KGeN/IndiGGMetarun, TheFishVerse, NinjaGames and other gaming guilds/DAOs. Through these alliances, COG gains rapid access to a gaming community of 500 million in over 50 countries.
Kamal Youssefi, President of the Hashgraph Association, said: “We are excited to further empower Web3’s global gaming industry through our co-investment with Nazara Technologies in Circle of Games, Web3’s leading multi-game app that aims to bring the next billion users to the Hedera network.”