Kreeda gets backing from IDG Ventures and SoftBank China & India Holdings.

Indian MMO firm gets investment boost

India’s Kreeda games has received investment cash from IDG Ventures and SoftBank China & India Holdings.

Kreeda is focused on making MMOs and recently launched a portal – the money will help its projects including the upcoming game Dance Mela, a Bollywood rhythm action title.

A report in the India Times points out that the investment is less than $10m. The investors say the Indian online games market is worth over $5m already, and Kreeda execs and its new VC friends say they hope to echo the growth of the Chinese and Korean markets.

Kreeda’s business model advocates a mix of monthly subs, hourly charges and in-game advertising and item sales. Dance Mela will launch with a free to play model.

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