Bengaluru-based cell gaming studio Spill Video games has raised $10.5 million in a Sequence A funding spherical led by Elevation Capital, with current buyers Centre Courtroom Capital and PeerCapital additionally taking part.
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Spill was based in 2024 by Om Misra, Tapan Ranjan and Harsh Garg, all former executives of PlaySimple Video games. It makes free-to-play informal, puzzle and hybrid-casual video games for gamers exterior India, and earns cash by promoting and in-app purchases.
The startup mentioned the variety of its video games exhibiting potential to scale profitably has doubled from three to 6 in lower than three months.
Spill plans to make use of the recent capital to develop the video games which can be already performing nicely, develop new titles, strengthen its know-how and AI capabilities, spend money on person acquisition and rent selectively. Its portfolio consists of Cozy Finds, Sticker by Quantity, Zen Math Crossword, Chicken Rescue Jam and Grill Grasp.
“We construct what excites us, put it in entrance of gamers rapidly and let their response information us,” Om Misra, co-founder and CEO of Spill Video games, mentioned.
How the studio picks its video games
Spill follows a portfolio method. It builds a number of recreation ideas, places them in entrance of gamers after which decides which of them deserve more cash, based mostly on knowledge on participant retention, engagement, monetisation and the price of buying customers.
On the centre of that is Compass, its in-house know-how platform, which brings collectively instruments for analytics, participant retention, monetisation and reside operations. The startup mentioned its AI-led processes have made recreation growth round 4 instances sooner than conventional approaches.
“We consider the following decade will see the rise of AI-native gaming studios that pair AI with robust product intuition, knowledge and fast experimentation,” mentioned Manish Advani, principal at Elevation Capital.
On the time of its seed spherical, Misra mentioned most mobile gaming studios have been chasing one breakout hit.
“We took a distinct view from day one: construct the underlying system first,” he mentioned then. The corporate had mentioned it deliberate to check greater than 20 prototypes over 18 months and construct a portfolio of 5 to 10 worthwhile titles, fairly than rely upon a single hit.
Funding up to now
The Sequence A comes about six months after Spill raised a $3.1 million seed spherical in April 2026, co-led by Centre Courtroom Capital and PeerCapital. At that time it had 5 reside titles, three of which had achieved optimistic unit economics.
Earlier than that, in December 2024, the studio raised $750,000 from All In Capital, M-League and angel buyers.
The brand new spherical is roughly 3.4 instances the dimensions of the seed spherical, and takes Spill’s complete funding throughout its three rounds to about $14.35 million.
On the time of the seed spherical, about 50% of Spill’s customers have been within the US, 15% in Brazil and 10% in Japan.
In keeping with Grand View Research, the worldwide cell gaming market is estimated at $176.7 billion in 2026 and is projected to achieve $256.2 billion by 2030, rising at about 10.2% a yr between 2025 and 2030.
The analysis agency mentioned free-to-play stays the dominant mannequin, with income coming from in-app purchases, adverts and battle passes. North America is predicted to be the fastest-growing area over the forecast interval, whereas Asia Pacific held a 52.3% income share in 2024.