About Xsquads
Xsquads is a Media & Entertainment company based in Surat (India) founded in 2016 by Jemish Lakhani and Pratik Gadhiya. It develops and publishes mobile games featuring battle royale modes for global players. It operates on a B2C and D2C model. Xsquads has raised $1.77 million across 4 funding rounds from investors including Mleague, Dhameliya Ashishkumar and Manishaben Lakhni. The company has 1 employees. Its chief executive, as recorded, is Jemish Lakhani. Its Indian entity Xsquads Tech Private Limited reported revenue of ₹3.4 Lakh. Xsquads offers products and services including ScarFall 2.0. Its focus areas include Consumer, Digital Entertainment, Interactive Media and Multiplayer Gaming.
Company details
XSQUADS Tech Private Limited is a game development studio that creates immersive mobile games, including ScarFall 2.0, a battle royale title with maps inspired by Indian locations like Mumbai and Andaman. They focus on delivering polished experiences with modes such as Survival and TDM, regularly updating content to engage a global audience. The company builds a strong community and has won awards for their innovative work in gaming.
- Headquarters Surat, India
- Employees 1
- Founders Jemish Lakhani, Pratik Gadhiya
- SectorsMedia & Entertainment
- Email••••••••
- Website xsquads.com
- Social LinkedIn X Facebook YouTube
- Legal Name Xsquads Tech Private Limited
- Date of Incorporation 09 Jun, 2021
- Jurisdiction Surat, Gujarat, India
- Annual Revenue₹3.4 Lakh
FY 2025 · +43% YoY
- Net Loss-₹3.01 Cr
FY 2025 · -8790% margin
- EBITDA-₹2.80 Cr
FY 2025 · -8172% margin
- Total Equity Funding$1.77M (USD)
in 4 rounds
- Latest Funding Round$956.43K (USD), Seed
Aug 2025
- InvestorsMleague
& 6 more
- Employee Count1
Associated legal entities of Xsquads
Xsquads operates through Xsquads Tech Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Xsquads Tech Private Limited CIN U72900GJ2021PTC123190 | Active | 09 Jun 2021 | Surat, Gujarat | ₹0.0 Cr | 2 | View details |
Products & Services of Xsquads
Xsquads offers a comprehensive portfolio of products and services, including ScarFall 2.0.
Battle royale game with Indian-inspired maps and survival modes for players.
Apps and channels of Xsquads
its YouTube channel XSQUADS has 48.9K subscribers.
Funding Insights of Xsquads
Xsquads has successfully raised a total of $1.77M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $956.43 thousand completed in August 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.77M
- Total Rounds 4
- Last Round Seed — $956,432
- First Round $150,797
(Aug 2023)
- Investors Count 7
All 4 funding rounds of Xsquads with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2025 | $956,432 | Seed | – | Mleague | – |
| Nov 2024 | $496,759 | Seed | – | Mleague | – |
| Mar 2024 | $168,956 | Angel Round | – | Dhameliya Ashishkumar | |
| Aug 2023 | $150,797 | Angel Round | – | Swati Vithani |
7 investors in total: 1 institutional and 6 angel.
Investors in Xsquads
Xsquads has secured backing from 7 investors, including institutional and angel investors. Prominent investors backing the company include Mleague, Dhameliya Ashishkumar and Manishaben Lakhni.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
| mleague.gg | ||||
DA Dhameliya Ashishkumar | unknown_bd9963ca442b427e9 | |||
ML Manishaben Lakhni | unknown_f3a78c06f9d44f4ab | |||
SV Swati Vithani | unknown_6b3f2f8cba6e42908 | |||
GB Grishma Bhumin Vithani | unknown_ad72c6e7410046afa | |||
TG Trupal Gadhiya | unknown_90dd09c740f04b0ba | |||
CL Chirag Lathiya | unknown_8f79d71ef68f47228 |
Investor details for Xsquads
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Xsquads Tech Private Limited (Xsquads)
Xsquads Tech Private Limited is the primary company behind Xsquads. The board of Xsquads Tech Private Limited currently have 2 directors; the longest-serving is Jemishkumar Bhimjibhai Lakhani, appointed in 2021. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Jemishkumar Bhimjibhai Lakhani DIN 07513470 | Director | 09 Jun 2021 | 5 yrs 4 mo | Xsquads Tech Private Limited |
| Ashishkumar Prabhubhai Dhameliya DIN 09270648 | Director | 05 Aug 2021 | 5 yrs 2 mo | Xsquads Tech Private Limited |
People of Xsquads
2 people are tracked at Xsquads (2 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
Jemish Lakhani | Founder, CEO | Leadership |
Pratik Gadhiya | Co-Founder, CTO | Leadership |
Complete people profiles for Xsquads
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Xsquads
Figures of Xsquads Tech Private Limited, the primary company behind Xsquads, for FY 2025. Revenue was ₹3.4 Lakh (+43% year on year). Net loss was -₹3.01 Cr (-8790% margin). EBITDA was -₹2.80 Cr (-8172% margin). Revenue has grown at a compounded annual rate of +2% over three years.
- ₹3.4 LakhRevenue · FY 2025 · +43% YoY
- -₹3.01 CrNet loss · -8790% margin
- -₹2.80 CrEBITDA · -8172% margin
- ₹1.1 LakhPaid-up capital
- +2%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Xsquads Tech Private Limited are on its company page.
Detailed financial statements for Xsquads
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Xsquads
3 dated milestones of Xsquads across 9 years, from founding to its latest funding, stage changes and deals.
- Founded Xsquads is founded.
- Funding First funding round of $151K.
- Funding Latest funding round, Seed, of $956K.
Web traffic of Xsquads
The website of Xsquads (xsquads.com) receives about 3.2K visits a month.
- Monthly visits3.2K
▼ 76.9% vs previous month
Websites whose visitors overlap most with Xsquads. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| ogreheadstudio.com | 94% | 3K | View details |
Top companies in MMORPG & Online Gaming
3 companies that operate in the same segment as Xsquads (MMORPG & Online Gaming) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Operator of a platform providing skill-based games and interactive entertainment | 2018 | Delhi, Delhi, India | USD 92 M | USD 83.05 M | 1 | |
Operator of a multifaceted platform for sports content and experiences | 2008 | Mumbai, Maharashtra, India | USD 942.17 M | USD 509.95 K | 1,310 | |
Skill-based online games are provided through a technology-driven platform. | 2006 | Mumbai, Maharashtra, India | USD 98.07 M | USD 264.51 M | 777 |
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Frequently Asked Questions about Xsquads
Xsquads was founded in 2016 and raised its 1st funding round 7 years after it was founded.
Xsquads is headquartered in Surat, India. It is registered at Surat, Gujarat, India.
Jemish Lakhani is the CEO of Xsquads, as recorded in our data. They have also founded this company.
Xsquads is a funded company, having raised a total of $1.77M across 4 funding rounds to date. The company's 1st funding round was a Angel Round of $150.8K, raised on Aug 2023.
Xsquads has 1 employees.
The primary company behind Xsquads, Xsquads Tech Private Limited, reported revenue of ₹3.4 Lakh for FY 2025, up 43% year on year.
XSQUADS Tech Private Limited is a game development studio that creates immersive mobile games, including ScarFall 2.0, a battle royale title with maps inspired by Indian locations like Mumbai and Andaman. They focus on delivering polished experiences with modes such as Survival and TDM, regularly updating content to engage a global audience. The company builds a strong community and has won awards for their innovative work in gaming.
Xsquads offers ScarFall 2.0.
Xsquads has 7 investors. Key investors include Mleague, Dhameliya Ashishkumar, Manishaben Lakhni, Swati Vithani, and Grishma Bhumin Vithani.
Xsquads operates through Xsquads Tech Private Limited.
The legal entities of Xsquads currently have 2 directors, including Ashishkumar Prabhubhai Dhameliya, Jemishkumar Bhimjibhai Lakhani.