Lumikai Fund leads QuriousBit’s $2Mn seed round to build the next-generation puzzle games from India for the world
We are thrilled to announce our investment in QuriousBit, a casual gaming studio with a clear vision to redefine the world of casual puzzle games.
Puzzle gaming has a storied history that traces its origins back to the 1980s with the iconic Tetris, a game that has since become a timeless classic. In the past decade, the surge of free-to-play mobile gaming introduced us to household titles like Candy Crush, Toy Blast, and the more recent Royal Match, all nestled within the widely adored match-3 subgenre. These games captivated audiences with their addictively simple yet challenging gameplay mechanics.
Over the last few years, we’ve witnessed the emergence of ground-breaking sub-genres within the puzzle game universe, often spearheaded by visionary early innovators who have set the stage for the substantial growth of these categories.
- In 2017, ‘Merge Dragons’ made its spectacular debut, pioneering the merge puzzle sub-genre. With its compelling gameplay that seamlessly combined merging and puzzle-solving mechanics, the game resonated deeply with players.
- In 2018, ‘Match Masters’ disrupted the puzzle gaming landscape by introducing competitive player-versus-player (PvP) battles to the match-3 genre. This innovation not only revitalized the multiplayer experience but also boosted player engagement and monetization via IAPs.
- More recently, we’ve witnessed Dream Games’ remarkable foray into the match-3 space, pushing the boundaries of this well-established genre. Their innovative titles have captivated audiences, resulting in remarkable player retention and revenue growth.
Despite the success of the above categories, there exists a puzzle game landscape that is still ripe for innovation.
When analyzing the ~$9 billion puzzle game market, the QuriousBit founders discovered that there are non-match-3 subgenres that collectively represent a market share of ~$2.6 billion, yet these genres have not witnessed the kind of breakout success that their counterparts have achieved.
Despite similar user demographics across these 11 subgenres, the founders saw a clear delta between user engagement vs. other successful sub genres such as the Match 3 family. e.g.: These 11 sub genres drive 60% of downloads as compared to top match 3 genres, but significantly lag behind in terms of daily active users, indicating a lack of deeper and innovative core loops.
What sets breakout puzzle games apart is their relentless pursuit of innovation, both in terms of core gameplay mechanics and narrative depth. These innovations not only draw players in but also transform them into loyal daily active users, strengthening player retention, and ultimately enhancing monetization conversions.
This is exactly what QuriousBit intends to do — emulate the successful playbook of breakout puzzle games in their identified genres. The founders of QuriousBit have identified these untapped subgenres within the puzzle game domain, which currently represent a global market size of $600 million and are projected to grow nearly threefold, reaching a market size of $1.75 billion by 2028.
At the heart of QuriousBit’s competitive edge lies a team of seasoned founders who bring a wealth of experience in scaling games and mastering the intricacies of user acquisition and monetization.
The company has been founded by a duo of seasoned product and tech leads, Ramakrishna Reddy and Shubham Joshi from PlaySimple (acquired by MTG for over $500Mn). Ram and Shubham have both developed, operated, and managed games in the puzzle genre at PlaySimple, driving over 125mn+ installs, and generating cumulative revenues of over $350mn+ with 7+ EBITDA positive titles.
Apart from scaling top games, both Ram and Shubham have also played a pivotal role in PlaySimple’s 0 to 1 journey. Both were part of the early team of the global word hit title — Word Trip.
The founders bring 12+ years of combined experience in building and running games as well as building high-performance game development teams. The team has deep experience in building tech infra, in-house analytics, and ad-tech stack at scale.
In today’s fiercely competitive gaming industry, innovating on game mechanics is not enough. Acquiring the right users efficiently and effectively has become critical for optimal user acquisition alongside thinking of distribution of games more holistically. At the very least, UA expertise is critical for navigating the complex landscape, optimizing marketing spend, and ensuring that a game can thrive and grow in a crowded market. It is an essential component of any successful gaming studio’s strategy.
We have also seen examples of games globally, which have leveraged new & novel distribution channels such as Survivor.io climbing the ranks via Tiktok, wherein they used creatives ranging from basic gameplay to meme headlines, UGC Ads and making hypercasual ads format for their game. Similarly Omega Striker had a successful launch which revolved around streamer activations.
Apart from the examples mentioned above, rich experiences also serve as a strong user acquisition pull. We have seen Goose Goose Duck attract a huge audience by integrating a deep social connection into their game.
The QuriousBit founders have traversed this journey successfully at PlaySimple and have a track record of identifying the most promising acquisition channels, optimizing ad spends, and leveraging data-driven insights to attract and retain users.
In a landscape where puzzle games predominantly rely on advertising revenue, QuriousBit aims to carve out a unique competitive advantage by implementing a balanced monetization strategy. This approach combines the best of both worlds — leveraging what already works in puzzle games while expanding the monetization potential through IAPs.
The founders want to use their success recipe for ad monetization from their PlaySimple days as an entry point for monetizing QuriousBit games. As they innovate by deepening the game design, the company will focus attention on driving IAP monetization as well.
The above strategies around UA and monetisation will be backed by robust in-house data analytics and scalable tech infrastructure which will enable data-driven decisions across different pillars of the game.
The company will utilize the funds from this seed round to create a new benchmark in innovative puzzle games built in India for global audiences. The founders will be investing heavily in curating a stellar team to build a high-quality casual puzzle games studio.
We are thrilled to partner with General Catalyst in this $2M Seed round.
