Hyderabad-based Mojostreet, a location-based mobile gaming startup, announced today that it has received $350K in seed funding, led by Srini Koppolu, former Managing Director of Microsoft India and J.A. Chowdary former Managing Director of Nvidia India. Mojostreet will use its infusion of capital to ramp up hiring efforts and to assist in the startup’s beta launch in early May.

Like a mix of its American counterparts Foursquare, SCVNGR, and Booyah’s My Town, Mojostreet’s first product is a location-based app, which will allow users to check in at various point of interests in a game format. At launch, Mojostreet will be restricted to 5.5 million locations in India, but Founder and CEO Kalyan Manyam said that he hopes to launch Mojostreet in the U.S. and Singapore shortly thereafter.

The startup has partnered with several major national retail outlets in India to provide real world offers to complement the virtual gaming experience. So, as users check in at various locations, they will be awarded virtual currency, or “Mojo bucks”. Gamers are pitted against their friends in a mobile scavenger hunt, unlocking special offers at check-in, and stockpiling virtual cash along the way.

Manyam, who also founded Indyarocks.com — an Indian social network with more than 6 million users — said that mobile gaming is currently exploding among the more than 600 million mobile phone users in India. As a result, Mojostreet will be available on Blackberry, Nokia, IPhone and Android phones.

“As data plans become more affordable in India, location-based services are going to play a crucial role in community-based entertainment and eCommerce”, Manyam said. “And we are very excited to see the ways Mojostreet can influence real world experiences and commerce”.

Crunchbase

• MOJOSTREET

Company: Mojostreet

Website: mojostreet.com

Launch Date: September 1, 2010

Funding: $350k

Mojostreet is a location based real world mobile game for your smartphone that lets you compete with your friends by checking into interesting places, sharing your location and experience with them. The game also helps you discover amazing places of your interest based on your friends recommendations. Mojostreet has an online and mobile version. The mobile app is available for Blackberry, Nokia, iPhone and Android users. You can sign in with your Facebook or Twitter account to access Mojostreet.

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