Felicity Games, a global mobile game publisher, recently raised $3 million (Rs. 25.8 crore) in a seed funding round led by 3one4 Capital, with participation from international investors such as T-Accelerate Capital (Singapore) and MIXI Global Investments (Tokyo). The funding round also saw strong follow-up investments from existing backers DeVC and Visceral Capital, further emphasising investors’ confidence in Felicity’s long-term vision.
The fundraising follows a period of rapid growth for Felicity, which has now surpassed $1Million in annual recurring revenue (ARR) and crossed 1 million downloads across its top-performing titles, Seek & Find and Nova Solitaire. Founded in 2023 by Anurag Choudhary, Felicity Games is focussed on pioneering a scalable playbook for global game publishing by tapping into India’s burgeoning game development ecosystem.
Specialising in hybrid-casual games publishing, the company combines data-driven insights with a strong execution model to deliver high-performing mobile games to audiences worldwide. The company closed February with over $100K in gross revenue, marking a 4X scale-up from November 2024.
With this new round of funding, Felicity Games plans to expand its publishing infrastructure and deepen its relationships with Indian game studios. The company is committed to scaling its successful titles and using the funds to test additional games by the end of 2025. This investment will also support the company’s mission of becoming the go-to partner for studios looking to scale their games profitably and sustainably.
In 2024, Felicity Games forged partnerships with over 10 Indian studios to test and scale several games, further strengthening its publishing infrastructure and its position in the competitive global market.
Medianews4u.com caught up with Felicity Games founder Anurag Choudhary
Q. India is expected to be a vital contributor to the global gaming industry. What factors will drive the growth of gaming in the country?
India sits at the intersection of rising digital penetration, affordable smartphones, and a young, content-hungry population. What makes this moment significant is not just consumption but creation—more studios are now developing globally competitive titles.
With better access to capital, structured publishing frameworks, and growing monetisation channels, we expect India to move from being just a consumption hub to a meaningful creator in the global gaming supply chain.
Q. The goal is to over the next few years build a portfolio of four to five titles on mobile gaming, each capable of generating more than $10 million in annual revenue. How do you get there and what is going to be the big challenge?
The $10 Million+ benchmark per title requires disciplined execution across three pillars—rapid prototyping, intelligent scaling, and sustained LiveOps.
We’ve built the infrastructure to test titles at speed, but the challenge lies in creative differentiation and pacing the scale journey. A title may show promise early on, but building long-term retention, monetisation depth, and market adaptability is where most drop off.
Our approach is to focus on quality over volume—scaling only those titles that demonstrate robust signals across global markets.
Q. Could you talk about Felicity Games’ business model and the goal in this regard for 2025? Is there a freemium aspect to it?
We operate a hybrid-casual publishing model where we co-develop with partner studios. Our revenue is largely driven by in-game monetiSation—both IAP and ad-based—game mechanics.
For 2025, the focus is on systemising our publishing playbook to handle larger title volumes without compromising on unit economics. We aim to make our test-to-scale cycle even tighter and continue investing in internal tools that support UA, monetisation, and live game operations.
Q. Felicity Games has raised $3 million led by 3one4 Capital, with participation from international investors such as T-Accelerate Capital (Singapore) and MIXI Global Investments (Tokyo). What are their expectations?
Each of our investors brings domain insight and long-term thinking. Their expectations are clear—build a scalable, tech-enabled platform that can consistently deliver commercially viable games.
They’re aligned with our goal of combining operational efficiency with creative ambition and see value in our disciplined, data-led approach to publishing.
Q. The company’s mission is to become the go-to partner for studios looking to scale their games profitably and sustainably. What does this entail?
It means more than just publishing. We’re focussed on becoming an operating system for game studios—offering not just capital or UA but a full-stack infrastructure that includes testing frameworks, market feedback, monetization strategy, and LiveOps capabilities.
We work shoulder-to-shoulder with studios from prototype to scale to ensure the game is both creatively fulfilling and commercially successful.
Q. Could you talk about Felicity Games’ framework Pokhran to rapidly prototype and test casual games for commercial viability? How does this ensure that only the successful ones are scaled?
Pokhran is our internal testing framework designed to evaluate early-stage titles in under 10 days. We plug prototypes into structured market tests and review key metrics across CPI, Day-1/Day-7 retention, and monetisation potential.
This data-led gating system filters out titles that don’t meet benchmarks, allowing us to invest deeper only in those that show multi-metric promise.
Q. Could you talk about the metrics that must align for commercial viability of a mobile game? Could you shed light on the strategic partnerships with studios and brands that Felicity Games has forged?
For us, three key metrics define commercial viability: CPI (Cost Per Install), retention, and ARPDAU (Average Revenue Per Daily Active User). CPI indicates how cost-efficient user acquisition is, while retention—especially Day 1 and Day 7—reveals whether players are finding the experience engaging enough to return. ARPDAU captures how well a game monetises its user base, whether through in-app purchases or ads.
These three variables must work in tandem. For example, even if retention is high, a poor ARPDAU can limit scaling opportunities. Conversely, strong monetisation with low retention signals potential content or gameplay issues. We have internal benchmarks that vary by genre and market, and these help us evaluate which titles are worth scaling and which need more iteration.
Q. How has Felicity Games integrated AI operationally?
AI supports decision-making across multiple workflows—creative testing, player segmentation, churn prediction, and UA campaign optimisation.
For example, we use ML models to predict early LTV based on player behavior in the first 24 hours. This allows us to act faster on kill-or-scale decisions and fine-tune monetisation strategies before deep scale begins.
Q. What are the games that the company is excited about in 2025?
We’re particularly excited about three categories: Sorting Mechanics, Puzzle RPG, and Hidden Object games. These genres have shown global appeal and robust monetisation potential, especially when designed with smart progression systems and live-ops in mind.
Our internal pipeline already includes multiple prototypes in these spaces, and we’re focused on building titles that can not only scale performance-wise but also deliver long-term player engagement.
Q. Based on recent user acquisition test campaigns across multiple geographies, what is the consumer looking for? Is personalisation very important for them?
Personalisation is increasingly becoming non-negotiable—but it extends beyond just visuals or language. We’ve seen that gameplay tuning matters just as much.
Level difficulty curves, content pacing, and monetisation strategies often need to be adapted based on regional behavior and cultural context. In some markets, aggressive monetisation may backfire, while others may respond well to deeper progression mechanics. Locaissation isn’t just a language layer—it’s about understanding what keeps players hooked in a specific geography.
Q. Is the rise of female gamers a big whitespace? Kindly elaborate.
Absolutely—it’s one of the most important growth vectors in the industry. Globally, over 60% of casual gaming audiences are women, and in India, women now make up 44% of the gamer base, with their participation growing faster than the male segment.
This shift is redefining how we think about game design, narrative elements, and even ad creatives. It’s also influencing the genres that gain traction—puzzle, narrative-driven, and lifestyle games continue to thrive in this demographic. As this audience expands, it opens up significant opportunities for more inclusive, high-retention casual titles.
