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Decoding: Spill Games’ Rs 100 Cr Series A round, valuation and cap table

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Decoding: Spill Games’ Rs 100 Cr Series A round, valuation and cap table

Bengaluru-based mobile gaming startup Spill Games has raised around Rs 100 crore ($10.5 million) in a Series A round led by Elevation Capital, with participation from existing investors Centre Court Capital and PeerCapital. Following the latest allotment, the company's co-founders collectively hold a 41.23% stake.

The latest round values Spill Games at around Rs 400 crore, marking a 3.5X jump from its seed valuation of Rs 115 crore in April 2026, when it raised around Rs 27 crore.

According to the company's regulatory filings accessed by Entrackr, Spill Games has allotted 6,094 compulsory convertible preference shares (CCPS) at an issue price of Rs 1,65,110 per share, along with 10 equity shares.

Elevation Capital invested Rs 80 crore in the round, while Centre Court Capital and PeerCapital infused Rs 12.6 crore and Rs 8 crore, respectively.

As per the filing, the fresh proceeds will be used to scale successful games, expand its portfolio, invest in user acquisition, strengthen its AI and technology capabilities, and selectively hire talent. The company monetises its games through advertising and in-app purchases.

Founded in 2024 by former PlaySimple Games executives Om Misra, Tapan Ranjan and Harsh Garg, Spill Games is building an AI-led mobile gaming studio focused on free-to-play casual, puzzle and hybrid-casual games for global audiences.

93%, respectively. 70%, respectively. 68% stake in the company.



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