Bengaluru-based mobile gaming studio Spill Games has raised $10.5 million in a Series A funding round led by Elevation Capital. Existing investors Centre Court Capital and PeerCapital also participated in the round.
Founded in 2024 by former PlaySimple Games executives Om Misra, Tapan Ranjan, and Harsh Garg, Spill Games develops free-to-play casual, puzzle, and hybrid-casual mobile games for international markets.
The company will deploy the fresh capital to scale games, demonstrating strong performance; develop new titles; strengthen its technology and artificial intelligence (AI) capabilities; invest in user acquisition; and selectively expand its workforce.
Notably, Spill Games has doubled the number of titles showing potential for profitable scaling from three to six in less than three months. To identify promising games, the company follows a portfolio-based strategy that involves developing multiple concepts and testing them with players before committing additional resources.
Furthermore, Spill evaluates each game’s performance using data on player retention, engagement, monetisation and user acquisition. This approach enables the company to identify promising titles and allocate investments based on their growth potential.
At the core of its strategy is Compass, a proprietary technology platform that integrates tools for analytics, player retention, monetisation, and live operations. In addition, the company said its AI-driven processes have accelerated game development by approximately four times compared with traditional approaches by reducing the time required to build and test games.
“We believe the next decade will see the rise of AI-native gaming studios that pair AI with strong product instinct, data, and rapid experimentation,” said Manish Advani, principal at Elevation Capital.
The latest funding round follows Spill Games’ $3.1 million seed round in April 2026. With its India-based development capabilities, the company aims to build games for international markets while expanding its portfolio of mobile gaming titles.
Spill Games generates revenue through advertising and in-app purchases, which allow players to pay for additional features or content within games. Meanwhile, the global mobile gaming market continues to offer significant growth opportunities. According to Grand View Research, the market is estimated to be worth $176.7 billion in 2026 and is projected to reach $256.2 billion by 2030.
Against this backdrop, Spill Games is expanding as gaming studios increasingly compete to attract and retain players. By combining data-driven decision-making, AI-powered development, and faster experimentation, the company aims to identify successful titles, improve profitability, and direct investment towards games with strong scaling potential.
