Games2win India announced that it has raised approximately US$ 5 million from two leading venture capital firms - Clearstone and SVB Financial Group. Clearstone is the lead investor in the company and has invested the majority portion of the funds.

Games2win was spun out as a separate entity in late 2006 from Contests2win.com India as a stand alone business, dedicated to the online gaming marketplace. It's headed by serial entrepreneur Alok Kejriwal (CEO) who is dedicating his time and attention to this new business The co-founders of g2w also include Cyrus Oshidar (most recently the creative head of MTV Networks) and Mahesh Khambadkone (previously with Dhruva Interactive and Lisle Technologies ).

The site has already attracted advertisers such as Tata Sky, Zee Group, AXN amongst others. Also, games2win intends to be an aggressive player in the Massive Multiplayer Online Games (MMOG) business in India and has signed up an exclusive world class title for release in India in April 07. The investments received will be used for capital investments, joint ventures, brand building and working capital requirements.

Says Alok Kejriwal, Founder and CEO of Games2win ‘We are delighted to be partnering with Clearstone and SVB at the early stage of g2w’s growth. Our investors have deep experience in helping consumer facing web companies to scale and go to market and we also intend to significantly leverage their well placed connections in the global economy. Also, as we scale rapidly, our investors will be well placed to help us with additional rounds of financing’

Says Rahul Khanna, Director, Clearstone - “Internet users in India are still highly underserved when it comes to online entertainment that’s relevant and compelling. With its unique blend of topical, irreverent and action-packed games we are confident that Games2win will be a dominant player in the rapidly growing online gaming marketplace in India. With Clearstone’s track record of building category leading consumer internet businesses like Paypal, MP3.com and Etoys we look forward to building Games2Win into a globally recognized brand”.



"With the emergence of gaming as a significant channel of entertainment in India and the region, SVB is excited to be making this investment in Games2Win,” said Ash Lilani, Head of SVB Global, which helps SVB Financial Group clients navigate global technology and venture capital markets. “In addition to their considerable creative talent, Alok and his team have the essential business experience and a proven track record that positions them for success.”