VR gaming & entertainment center Smaaash lands USD 44 M for Series E
Founder: Shripal Morakhia
Founded in: 2012
Financing status: USD 44 million for Series E round in 2017
Virtual reality (VR) gaming and entertainment center Smaaash, backed by former Indian cricket star Sachin Tendulkar, has raised USD 44 million in a funding fresh round led by Edelweiss Group’s financing and money-lending subsidiary, ECL Finance. The investment has been reportedly raised by a combination of equity and debt.
Smaaash was founded in 2012 by film director and producer Shripal Morakhia. Morakhia is the founder of Sharekhan, an Indian retail brokerage offering financial products and services.
Smaaash is an offline VR-led entertainment gaming center that combines games, music, and dining parties, thus offering customers a fun and interactive social experience. Smaaash excels in the field of sports simulation technology and proprietary gamification technologies. At its core are VR games, bowling zone, motor racing & bike racing simulators, and others. At any of Smaaash’s centers customers can host various kinds of parties such as birthday parties, pre-wedding parties, and team building events. Smaaash currently operates gaming centers in 6 cities including Mumbai, Bangalore, Noida, etc. It now operates within the U.S. with the launch of Mall of America location.
Smaaash will use the newly raised funds to accelerate its overseas expansion to regions such as the Middle East.
(Top photo from Smaaash Twitter)