Mumbai, Mar 15 (PTI) Sports collectibles and skill-based gaming company BuyStars on Wednesday said it has raised USD 5 million (about Rs 41.40 crore) in a funding round led by Lumikai (India's pioneering Gaming and Interactive-focused VC Fund), Chiratae and Leo Capital.

The Pre-Series A funding round will be allocated towards investing in growth and launching new games on the platform, the company said in a statement.

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With the fresh funding, BuyStars has now raised USD 9 million in total till date.

"We started with a mission to disrupt how cricket fans engage with games today. While funding is never a testament to a company's success, however, when experienced investors decide to back a company, it's definitely a great validation of the mission one started with and a tribute to the hard work of a team which came together to build it," BuyStars CEO and Co-founder Aman Satija said.

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*** Yellow Metal raises USD 3 mn * Gold loan startup Yellow Metal on Wednesday said it has raised USD 3 million (about Rs 24.84 crore) in a funding round led by MSA Novo, a multi-stage venture capital firm.

The seed funding round also saw participation from Spiral Ventures, a Japanese VC firm and existing investors WaterBridge Ventures and Java Capital, the company said in a statement.

The fresh funds will help expand technology team operations across 25 new markets in and outside of Karnataka and also add new forms of asset-backed lending that are required for consumers in rural India.

"Building trust in the rural markets will help us become a destination for all forms of asset-backed lending. This seed fund will help us to invest more in technology that will, in turn, help build a better customer experience and a transparent product. If the company has a strong financial position, we will also be able to negotiate favourable terms from the partnerships," Yellow Metal Co-Founders Nikhil Boggaram and Rahul Boggaram said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)