India: Chennai Angels invests $250k in online cricket gaming platform Hitwicket

Visual from Hitwicket website

Hyderabad-based Octathorpe Web-Consultants Pvt. Ltd, the promoter of cricket management game Hitwicket, has raised $250,000 (about Rs 1.63 crore) in funding from angel investor The Chennai Angels (TCA).

Octathorpe, founded by alumni of VIT University Kashyap Reddy, started-off a web services company but later launched Hitwicket considering the huge popularity of the IPL and football management games.

The online game is already generating funds through app purchases and the product is currently available across 77 countries.

“We see Cricket as an ever green passion and Hitwicket has done a unique job of coupling it with management. It’s only a matter of time before gaming companies become mainstream like in western countries,” R Narayan of Chennai Angels said.

Hitwicket allows a user to play the role of a manager of a T20 cricket team and make all strategic decisions like setting line-ups, buying players from the auction, upgrading infrastructure, etc. The matches are simulated ball-by-ball by Hitwicket’s propitiatory Match Engine Algorithm based on various parameters.

Currently, the game can be played on Hitwicket.com or on Hitwicket Android app.

“We designed the Hitwicket Gameplay as an amalgamation of Poker, Monopoly and Chess, games whose appeal spans generations. By packaging complex B-School jargon like Economics and Competitive Strategy into a Fun experience, Hitwicket has plenty of avenues for learning for its users too,” said Kashyap Reddy of Octathorpe.

“Our aim is to keep the users hooked over months and years instead of days like most other games,” Reddy added.

Also Read: Indian gaming startup GameXS receives angel funding from Lead Angels

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.