BMC has demolished high-profile Smaaash gaming and entertainment center in Kamala Mills at Mumbai’s Lower Parel area.
The Mumbai Municipal Corporation brought down the structure of the Sachin Tendulkar-backed entertainment arena as part of the demolition drive against unauthorized constructions in the area. The drive is initiated after 14 people were killed in a fire at an unauthorized pub in the Kamala Mill complex.
One of Mumbai’s leading entertainment arenas, the Smaaash center at the Kamala Mill compound is spread 120,000 sq. The first Smaaash gaming and entertainment center presented cricket, football, and virtual reality gaming experience. The center also had facilities for sky-karting, bowling. The VR cricket offers experience of playing against and with the likes of Lasith Malinga, Shane Warne, and Wasim Akram. The complex also housed party halls and dining facilities.
Smaaash two weeks ago had raised $14.05 million (INR 90 crore) funding form high net-worth investors (HNIs), Avendus Wealth Management Pvt. Ltd, the wealth management arm of financial services firm Avendus Capital. The funding had come in less than a month after the fastest rising VR gaming brand had raised $3.9 million (INR 25 crore) from Nikhil Vora-led consumer-focused investment firm Sixth Sense Ventures. At that time, the company’s post-money valuation was said to be more than $100 million (INR 640.5 crore).
Smaaash had also picked up $6.6 million (INR 43 crore) during a funding round in November from a clutch of undisclosed HNIs.
Smash earlier last year had acquired the PVR Cinemas-owned bluO Entertainment in an INR 86 crore deal. The center in November last had also acquired 13 bowling and gaming assets from Sri Venkateshwara Multiplexes’ Bowling and Gaming.
The gaming company in addition to Mumbai is running centers at Gurgaon, Delhi, Hyderabad, Bengaluru, Noida, Ludhiana, Pune and Chandigarh. Tendulkar last month had inaugurated company’s first outlet in the Capital in South Delhi’s high profile Ambience Mall.