Spill Games hits ₹400 crore valuation after ₹100 crore Series A

Bengaluru-based mobile gaming startup Spill Games has raised around ₹100 crore ($10.5 million) in a Series A funding round led , taking its valuation to approximately ₹400 crore. Existing investors Centre Court Capital and PeerCapital also participated in the round. According to regulatory filings accessed , the latest allotment values the company at around 3.5 times its ₹115 crore valuation during its seed round in April 2026.Elevation Capital invested ₹80 crore in the Series A, while Centre Court Capital and PeerCapital contributed ₹12.6 crore and ₹8 crore, respectively.The funding comes as Spill Games looks to scale its existing portfolio, expand into new gaming categories and strengthen its technology capabilities. The company plans to use the proceeds for user acquisition, AI and technology development, and selective hiring.How the cap table looksFollowing the latest allotment, Elevation Capital has emerged as Spill Games' largest external shareholder, holding a 20% stake. Centre Court Capital holds 11.78%, while PeerCapital owns 8.93%.Other investors include All In Capital, with 7.48%, and CRED founder Kunal Shah, who holds 0.68%. M-League Limited holds a 2.70% stake, according to the filings.The company's three co-founders collectively retain 41.23% ownership. Om Misra holds 14.02%, while Tapan Ranjan and Harsh Garg each hold 13.61%.The latest allotment involved 6,094 compulsory convertible preference shares at an issue price of ₹1,65,110 per , alongside 10 equity shares.Building a mobile gaming portfolioFounded in 2024 , Tapan Ranjan and Harsh Garg, Spill Games is building an AI-led mobile gaming studio focused on free-to-play casual, puzzle and hybrid-casual games.Its portfolio includes titles such as Cozy Finds, Sticker , Zen Math Crossword, Bird Rescue Jam and Grill Master. The company is looking to build a diversified portfolio rather than depend on a single breakout title.The startup had previously raised around ₹27 crore in its seed round in April 2026, co-led .With its latest fundraise, Spill Games is looking to accelerate game development and scale titles that have gained traction with players. Its investment in AI and technology is also intended to strengthen its ability to develop and expand games for global audiences.The ₹400 crore valuation marks a significant increase from its seed-stage valuation in April, while the latest cap table shows the founders retaining a substantial collective stake as the company brings in additional institutional capital.