FUNDING

Ratan Tata invests in MadRat Games

madrat

MadRat games raised a total funding of $2.5M

Soon after the launch of wearable gaming platform SuperSuit, MadRat received fresh funds from investors including Ratan Tata, Ola’s founders Bhavish Aggarwal and Ankit Bhati, Flipkart’s founder Binny Bansal, and Girish Mathrubootham of Freshdesk, confirmed the company.

This platform prototype was launched in January 2016 at Consumer Electronic Show(CES) in Vegas, USA. The company has raised a total of $2.5M with this fresh funds. The funds would be used for further product development and pre-order campaign.

MadRat also got on board Alice Brooks, founder & CEO of Roominate and Rajiv Patel, owner of Lift Projects, as the head of design.

This gaming startup was founded by by IIT Mumbai and Carnegie Mellon alumnus Rajat Dhariwal along with his team Madhumita Halder and Manuj Dhariwal in 2010. Initially they built offline educational games for kids like board games, learning puzzles, toys and mobile games. SuperSuit is made for both kids and family. The company confirmed the pre-order of this product will launch in September this year.

Rajat Dhariwal, Co-Founder & CEO of SuperSuit, said, “Outdoor gaming is slowly losing its relevance owing to the shrinking outdoors in urban spaces and safety concerns in suburbs. We are determined to bring back gaming in its true avatar by amalgamating the concept of outdoor gaming with gesture-control technology. We are excited to have toy industry veteran Alice & UX expert Rajiv on board the SuperSuit team with a shared vision of an active and balanced childhood.”

The gaming platform SuperSuit is said to be world’s first wearable gaming platform that reduces screen time, increases social interaction, physical activities and takes kids & families outdoors to play with each other.

Flipkart founders Sachin Bansal and Binny Bansal had invested about $1 Mn in the company in November 2014 and later Snapdeal’s founders Kunal Bahl and Rohit Bansal had invested about $168K in July 2015. Previously, it had raised more than $500K from Blume Ventures and First Light Ventures in 2012.

Rajat recently told ToyNews that the indoor gaming market (both toys and video games) is about $180 Bn and the outdoor sector around $145 Bn and with SuperSuit MadRat is expecting to carve out an untapped $100 Bn and upwards market.

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