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Vatar, the company behind Lagos Life, is in talks to raise $2.5 million in a pre seed round after the game attracted 10 million players.
Vatar is in talks to raise more money for Lagos Life, a browser-based game set in a virtual world modelled on Nigerian cities.
Vatar, the company behind Lagos Life, is in talks to raise additional funding, according to sources familiar with the matter.
The company is targeting a $2.5 million pre-seed round at a $15 million valuation.
This comes after a $500,000 angel round that valued the company at $10 million.
That angel round included investors such as Flutterwave founder Olugbenga Agboola, Oo Nwoye, Mono founder Abdulhamid Hassan, and Terra Industries CEO Nathan Nwachukwu.
Condia reported the angel round happened barely a week after the company launched this month.
Lagos Life is described as a browser-based game that lets players live and interact in a virtual world modelled on Nigerian cities.
If Vatar closes the pre-seed round at the target valuation, it would mark a step up from its earlier $10 million valuation.
The talks also follow early traction for Lagos Life. Condia reports the virtual game has attracted 10 million players.
For founders building consumer internet products, Lagos Life is another example of a browser-based product finding a large audience without requiring a mobile app download.
Primary Source: Condia
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