French startup Oh BiBi raised $21 million from Atomico with Korelya Capital also participating.
Oh BiBi is a team of mobile gaming veterans trying to build the next big thing when it comes to mobile gaming.The company has already released a handful of games, such as LoL Kart, Motor World Car Factory, Dino Factory and SUP Multiplayer Racing.
But the company next big bet is Frag.Frag is an online first-person shooter.
You&ll fight against other players in one-on-one matches.
There a metagame element as well — you&ll need to put together your team of characters as you can swap between multiple characters in the middle of a match.Each character has a cartoonish design and some special powers.
Oh BiBi keeps comparing it to Fortnite in its press release, but it sounds more like 1 vs.
1 Overwatch.Frag will be available as an open beta next month on iOS and Android.
Oh BiBi is taking a freemium approach and distributing its games as a free download with in-app purchases.Building a mobile gaming startup is incredibly hard.
It not just about building engaging games.
You also need to tweak paid acquisition strategies, retention numbers, in-app purchase triggers and improve the lifetime value of your players.This is Atomico first investment in a French startup as a lead investor.
Atomico has invested in Rovio and Supercell in the past.
So the VC firm thinks the Oh BiBi team is well positioned to tackle this market.[gallery ids="1664212,1664213,1664214,1664215,1664216"]