Company Overview
Mayhem Studios is a prominent game development company located in Bengaluru, Karnataka, India. Launched in 2022 as a subsidiary of Mobile Premier League (MPL), it focuses on creating mobile gaming applications, particularly specializing in AAA battle royale games. Their flagship title, Underworld Gang Wars (UGW), is a unique offering that blends AAA battle royale gameplay with Indian cultural elements, making it stand out in the competitive market. Their strategic development initiatives are bolstered by significant financial backing from eminent investors such as Sequoia Capital and Steadview Capital, with a total raised fund of $20 million from multiple funding rounds, signifying substantial investor faith in its growth trajectory.
Leadership Team
- Ojas Vipat serves as the CEO of Mayhem Studios. His extensive expertise encompasses data analytics, product management, game design, and project management. Prior to his role at Mayhem Studios, he was integral to the product team at Mobile Premier League (MPL). His leadership is characterized by leveraging India's talent pool to drive the development of high-quality gaming experiences.
- Shakun Talwar, the Associate Director - Talent Acquisition, is based in Gurugram, playing a pivotal role in cultivating and managing the talent at Mayhem Studios.
- Ritika Chatterjee is the General Counsel who manages the legal dimensions of the studio.
- Arpit Awasthi leads the marketing division, utilizing his extensive expertise to enhance the brand's reach and recognition.
Company Values and Vision
Mayhem Studios is committed to advancing mobile gaming by delivering innovative and engaging gameplay experiences. Their vision involves crafting stories, characters, narratives, and worlds that resonate with players on a long-term basis. The studio's emphasis on storytelling and cultural integration provides them with a distinct competitive advantage, particularly within the burgeoning Indian market.
Business Model and Services
Mayhem Studios presents a wide array of services which include game development, branding, and digital marketing. Their strategic concentration on AAA games, enriched by storytelling and cultural nuances, allows them to occupy a unique niche in the gaming industry. The studio's adept utilization of India's expansive market and skilled labor underscores their strategic foresight and operational efficiency.
Market Position and Financials
Enjoying backing from its parent company MPL and a substantial investment history of $20 million, Mayhem Studios is strategically positioned to achieve notable progress in the mobile gaming sector. The company is valued between $80 million to $120 million, mirroring strong market potential and sustained investor trust. Their core emphasis on culturally-rich games, notably Underworld Gang Wars, highlights their dedication to innovation and market leadership.
Recent Developments
In 2024, Mayhem Studios received an undisclosed investment from Lumikai, a venture fund concentrating on interactive media and gaming, with additional support from notable investors such as Peak XV Partners (previously Sequoia India), Truecaller, and Moore Strategic. This followed a triumphant Series A funding round of $20 million in 2023. These financial resources are intended to amplify game development efforts, broaden the talent pool, and advance technological capabilities. The studio proudly noted 7.5 million pre-registrations for UGW during its transition from closed to open beta phases.
Competitive Landscape
Mayhem Studios operates amidst intense competition:
- Direct Competitors in Gaming: Faces competition from industry giants like Zynga, Scopely, and Ubisoft, known for successful mobile and social games that often incorporate region-specific and cultural elements akin to the approach taken by UGW.
- Notable Indian Competitors: Faces domestic challenges from companies such as PlaySimple and Moonfrog Labs, each recognized for creating games with strong local appeal and establishing themselves on both national and international stages.
- Other Competitive Influences: Global gaming stalwarts, including Blizzard Entertainment and Hero Entertainment, exert pressure with their vast international reach and substantial investments in AAA game development.
Strategic Positioning
Mayhem Studios' strategic leverage lies in its profound understanding of local cultural aesthetics, allowing for differentiated offerings in an otherwise saturated gaming market. By integrating Indian-themed narratives and settings, Mayhem captures local gamer interests while adding a unique twist that sets UGW apart from other battle royale titles. This cultural congruence emerges as a critical differentiator, enabling Mayhem to carve out a distinctive niche amidst global competitors, thus positioning itself effectively within the wider global gaming landscape.
