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’s next big bet is Frag.
Frag is an online first-person shooter. You’ll fight against other players in one-on-one matches. There’s 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’s 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’s 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.
Tech Stories Are Here.