Consumer lending platform RING has raised about $12 million (Rs 100 crore) in venture debt funding from Trifecta Capital, while LightFury Games has raised $8.5 million in its seed funding round.
Trifecta Capital invests in RING
RING (formerly Kissht) has raised about $12 million (Rs 100 crore) in venture debt funding from Trifecta Capital, per an announcement.
With this, the Mumbai-based company has marked its first fundraise in 2024. RING plans to use the debt facility for on-lending and expanding its balance sheet loan book, it said in a statement.
This is the second time that Trifecta is extending its partnership with founders Krishnan Vishwanathan, Ranvir Singh, and the RING team. The venture debt firm had earlier invested Rs 50 crore in RING in early 2022. Northern Arc had also invested an equal amount in the company alongside Trifecta back then.
RING provides personal credit of up to Rs 5 lakh to salaried and self-employed individuals in tier I, tier II, and tier III cities. The company claims to have surpassed an AUM of Rs 3,000 crore for the financial year ended March 31, 2024, and having served over 1 crore unique borrowers.
Blume leads LightFury’s funding round
Gaming startup LightFury Games has raised $8.5 million in its seed funding round led by venture capital firm Blume Ventures, per an announcement.
The round also saw participation from Japanese mobile entertainment firm Mixi, micro venture capital firm Gemba Capital, and angel investors such as Kunal Shah and Gaurav Munjal.
The company plans to deploy the capital into building high-quality AAA titles in India, with an initial focus on mobile gaming and gradually expand into other platforms including consoles. AAA games are known for their high level of polish and quality and are developed and published by top-tier game development studios with significant financial and technical resources.
Founded in 2024, LightFury also plans to establish its game studios in both India and the UK and hire talent for the same.
