Pokkt,
an India-based platform for game developers who want to earn revenue through
ways outside of virtual currency transactions, raised a seed round of funding
led by Singapores early stage fund Jungle Ventures.
Also
participating in the round is Samir Bangara, who is a co-founder and managing
director of Qyuki Digital Media and the former Managing Director of digital
media for Disney UTV.
The
startup recently graduated out of Indian accelerator GSFs first batch
of companies.
Pokkt
pronounced like pocket free mobile recharge
app has a model that is reminiscent of Trialpay or Tapjoy. They give
mobile phone users other ways of paying for goods and services instead of
through virtual currency transactions.
But
because they focus on the Indian market, they differ in a number of ways. For
one, they also have to support feature phones through WAP-based products.
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| Recharge App |
The
kinds of rewards they offer are also pretty different with wallpapers, videos
on demand and music subscription services. Or they offer access to wifi
hotspots in exchange for consuming ads, for example.
In
typical India, the virtual goods ecosystem does not exist at all, said founder
Rohit Sharma, who used to run the digital business arm of Reliance ADA Group, a
multi-billion dollar conglomerate in India with reach into the telecom and
entertainment industries.
The
way they charge advertisers is similar with pay-per-download or pay-per-action
models. They chose to take investment from a Singaporean fund because they
eventually want to expand more broadly into Southeast Asia.
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