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BGMI Maker Krafton India Seeks Govt Support For Online Gaming
Inc42
·
1y ago
Medial
Krafton India CEO, Sean Hyunil Sohn, urged Indian government support for the gaming industry, citing labor cost subsidies in other countries. He emphasized India's gaming potential due to affordable internet and high mobile usage, with opportunities for growth. Sohn also discussed the GST Council's 28% tax on online game bets and the sizable market for games like BGMI. He noted Krafton's investment in Nodwin Gaming and the industry's substantial growth.
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India gaming market to be more sizable, impactful; looking to invest, acquire: Krafton India CEO
Economic Times
·
4m ago
Medial
Krafton, the South Korean gaming company behind Battlegrounds Mobile India (BGMI), sees substantial growth potential in India's gaming market, driven by a young population and increasing smartphone adoption. Krafton plans to increase investments beyond the $200 million already allocated and is open to acquisitions in India. The company views India's mobile-first gaming culture as unique and promising, despite the market being relatively small globally. Krafton is optimistic about India's regulatory landscape and seeks partnerships with passionate game developers.
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Ranveer Singh joins forces with BGMI as official brand ambassador
Livemint
·
1y ago
Medial
Krafton, the company behind Battlegrounds Mobile India (BGMI), has announced a partnership with Bollywood actor Ranveer Singh. The collaboration aims to celebrate the essence of BGMI players through the Play Pure campaign. Ranveer Singh's charismatic persona aligns with the gaming community's spirit and authenticity. The campaign encourages BGMI players to embrace their uniqueness within the gaming world. Krafton India's CEO, Sean Hyunil Sohn, expressed excitement about the collaboration, while Ranveer Singh noted his affinity for gaming as an extension of his creative expression.
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After 3-Month Audit, KRAFTON Gets Full Approval To Operate BGMI In India
Inc42
·
1y ago
Medial
South Korean gaming company KRAFTON has received full approval from the Indian government to operate its game Battlegrounds Mobile India (BGMI) in the country. The approval comes after a three-month audit process, and BGMI will now undergo quarterly assessments to maintain approval. This development provides relief to KRAFTON, as BGMI faced regulatory issues in India. The approval comes ahead of the expiration of the three-month trial period granted by the Ministry of Electronics and Information Technology (MeitY) to KRAFTON for the India-only game in May.
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KRAFTON receives full approval for BGMI in India
Startup News FYI
·
1y ago
Medial
South Korean gaming company KRAFTON has received full approval from the Indian government to operate its popular battle royale game, Battlegrounds Mobile India (BGMI), within the country. This comes after a rigorous three-month audit process aimed at addressing regulatory concerns. BGMI, one of India's top-grossing games, has faced regulatory challenges, but this approval is a significant milestone for KRAFTON. India's gaming market is growing rapidly, with the potential to reach $8.6 billion by FY27, making it an attractive opportunity for global gaming companies.
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KRAFTON acquires majority stake in Nautilus Mobile for Rs 118 Cr
Entrackr
·
4m ago
Medial
KRAFTON, the company behind BATTLEGROUNDS MOBILE INDIA (BGMI), has acquired a controlling stake in Pune-based game studio Nautilus Mobile for Rs 118 crore ($13.7 million). This is KRAFTON’s first full-control deal in India. Nautilus Mobile is best known for its popular mobile cricket game, Real Cricket. JetSynthesys fully acquired the studio in 2020, and KRAFTON later invested Rs 40.5 crore in 2022. With this acquisition, KRAFTON aims to boost Indian game development and expand its presence in sports gaming. JetSynthesys will remain a minority investor and continue working with Nautilus, especially in Esports. KRAFTON India CEO Sean Hyunil Sohn said this deal will help India become a global gaming hub. Nautilus Mobile CEO Anuj Mankar said the partnership will help Real Cricket grow internationally. KRAFTON has invested over $200 million in Indian startups since 2021 and continues to support local game developers. With India’s growing love for cricket and gaming, this move strengthens KRAFTON’s position in the country’s gaming ecosystem.
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KRAFTON India Reveals The Two Startups From Its First Incubation Programme
Inc42
·
1y ago
Medial
South Korean game developer Krafton has announced the first cohort for its Krafton India Gaming Incubator (KIGI). The incubation programme aims to improve the gaming ecosystem in India by providing financial support, mentorship, tools, and guidance to selected startups. Krafton is open to all types of games except real money gaming or those associated with betting or gambling. The incubator has already chosen two startups for the cohort, ReDimension Games and Shura Games, and will provide funding of up to $150,000 for the incubation period. Krafton has committed to investing $150 million in Indian gaming and entertainment startups over the next few years.
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KRAFTON's India unit launches inaugural cohort under gaming incubator
IndianStartupNews
·
1y ago
Medial
KRAFTON has launched the first cohort under its KRAFTON India Gaming Incubator (KIGI). The program aims to support and nurture local gaming talent in India by providing mentorship, guidance, and financial support to develop high-quality game titles. KIGI differentiates itself with KRAFTON's global expertise and commitment to the Indian gaming ecosystem. The incubator already selected two startups, ReDimension Games and Shura Games, and is reviewing applications for a larger second cohort. KIGI offers a support system that includes a mentorship period and grants ranging from $50,000 to $150,000. KRAFTON has invested $140 million in 11 Indian startups.
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Gaming firm Krafton backs South Korean IMM Investment's maiden India fund
Economic Times
·
9m ago
Medial
Krafton India, the local unit of the South Korean maker of Battlegrounds Mobile India, has become the anchor investor in IMM Investment's maiden India fund. The fund will focus on backing startups across sectors such as consumer tech, SaaS, fintech, gaming, media, and deep tech. Krafton India's strategy includes a fund-of-funds approach, allowing it to tap into high-potential sectors beyond its core focus. So far, Krafton has invested about $170 million in several Indian startups.
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Krafton’s New Battle Royale Style Game Launched In India
Inc42
·
1y ago
Medial
Krafton and ZeptoLab have launched Bullet Echo India, a battle royale style multiplayer shooting game available on the Google Play Store. The game has quickly climbed to the top spots in multiple categories since its release. This launch comes shortly after Krafton's introduction of the KRAFTON India Gaming Incubator (KIGI), which has chosen its first two startups for support. Krafton has committed to investing $150 million in Indian gaming and entertainment startups over the next few years. Despite challenges, India's gaming industry shows promise for future growth and opportunities.
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Krafton to deepen bet on India's booming gaming market; eyes talent, ecosystem expansion - The Economic Times
Economic Times
·
23d ago
Medial
Krafton, the South Korean gaming company known for Battlegrounds Mobile India, highlights India as a critical market, among its top five globally by revenue and top three by user numbers. CEO Sean Sohn emphasizes Krafton's commitment to investing in India's gaming ecosystem and nurturing local talent. With over $200 million already invested since 2021 and more to come, Krafton aims to support the country’s growing gaming industry and develop a robust talent pool.
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