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Wednesday, September 19, 2007

6th Gradere student Arjun Mehta's Game Startup Gets Venture Backing

Santa Clara-based Playspan has raised venture funding even thought its founder, Arjun Mehta, is in the 6th grade.

PlaySpan works with games publishers to integrate eCommerce functionality so that they can sell merchandise as well as provide financial rewards for game play. It has also built community features. The company claims to have won 7 licensing deals with large game publishers in the MMOG category.

PlaySpan started in Arjun's garage San Jose in 2006. Seed funding came from Arjun's game challenge winnings at the 5th grade at Challenger School in San Jose. Today Arjun's company announced that it has raised $6.5M in Series A funding led by Easton Capital land was joined by Menlo Ventures, STIC International out of South Korea and Novel TMT Ventures in Hong Kong.

Source: Alarmclock

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