Playbite, a US-based company, has successfully raised $1 million in funding to further develop its casual games hub available on mobile and web platforms. The investment round was led by Grishin Robotics and included participation from M25, Tundra Ventures, Capitalize VC, and Magic Fund.

Playbite has already made its presence felt on major platforms like the App Store and Google Play, offering 42 single and multiplayer games through its app. The platform's revenue streams include advertising, in-app purchases, and a Playbite+ subscription, which offers an ad-free experience. Users can not only enjoy playing games but also have the chance to win prizes such as gift cards, plush toys, and gaming consoles.

With several hundred thousand monthly active users already engaged with Playbite, the company aims to leverage this new investment to expand its user base. Kafie, a representative of Playbite, expressed the company's ambition, stating, "We want to be ubiquitous with casual games on your phone, just as Spotify is ubiquitous. It's not just a game, but a platform with a lot of games that everyone from a teenager to a grandparent can enjoy." This funding will undoubtedly support their vision of becoming a go-to destination for casual gaming enthusiasts.

Source: adapted of article by Craig Chapple, Head of Content for Pocket Gamer