Circle of Games raises $1M from Nazara Technologies, The Hashgraph Association

Summary: Web3 multi-gaming platform Circle of Games (COG) has raised $1 million in equity funding from Nazara Technologies FZ LLC and The Hashgraph Association. The funding will fuel COG’s global expansion efforts and enhance its platform capabilities. Led by founders Rabilal Thapa, Rajeeb VC, and Rohit Tiwari, COG aims to increase its game offerings and launch its native token, $COG Token, by Q2 2024

Web3 multi-gaming platform Circle of Games (COG) has secured a significant boost with a $1 million equity funding round led by Nazara Technologies FZ LLC and The Hashgraph Association. This infusion of capital is set to propel COG’s expansion plans and technological advancements.

The funding, according to COG, will be pivotal in accelerating its market entry strategies and improving platform capabilities. Founded by Rabilal Thapa (CEO), Rajeeb VC (CTO), and Rohit Tiwari (CMO), COG Holdings Global Limited specializes in developing casual, hyper-casual, and skilled-based games, delivering them through its Multi-Gaming Platform to users worldwide while integrating blockchain technology.

With a focus on global expansion, COG aims to strengthen its presence in key markets such as the US, European Union, Middle East, Africa, and Asia. The startup intends to enhance user experiences and increase its game offerings from six to more than ten by the fourth quarter of 2024.

In addition to financial backing, COG will benefit from strategic guidance and technological support from Nazara Technologies, leveraging its extensive network to fuel growth. The collaboration with The Hashgraph Association will grant COG access to a vast collection of games and ecosystems, as well as a substantial user base, utilizing Hedera’s distributed ledger technology to enhance technological capabilities and market reach.

As part of the funding arrangement, Nazara Technologies’ Dubai subsidiary will invest up to $500,000 in COG, acquiring Class A1 Preferred Shares representing 8.5% share capital. COG also plans to introduce its native token, $COG Token, by the end of Q2 2024, further enhancing user engagement and reward mechanisms.

COG’s growth trajectory is evident with over 250,000 registered Android users and plans to launch its app on iOS devices by Q2. The platform aims to expand its gaming portfolio to over ten games by Q4 2024. Its client base includes prominent web3 projects and ecosystems worldwide, providing access to a vast gaming community spanning over 50 countries.

Nazara Technologies’ commitment to invest $100 million in mergers and acquisitions (M&A) within the next 24 months adds further momentum to the gaming industry’s growth prospects.