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Decoding Lumikai’s Investment Playbook For India’s $30 Bn Gaming & Interactive Media Industry

Inc42Inc42 · 1y ago
Decoding Lumikai’s Investment Playbook For India’s $30 Bn Gaming & Interactive Media Industry
Medial

Lumikai is a venture capital fund focused on gaming and interactive media in India. With a corpus of $40 million in its first fund and $50 million in its second fund, Lumikai has made investments in 15 companies, including All Star Games, AutoVRse, Bombay Play, and Loco. The gaming and interactive media market in India is growing rapidly, with a total worth of $25 billion and a CAGR of 20%. Lumikai's investment thesis focuses on early-stage startups and aims to find category-leading bets in the industry. The fund's portfolio companies are generating revenue and benefiting from the attention economy and multiple monetization avenues within the gaming and interactive media sector. The Indian government has also shown favorable regulations for the industry, recognizing eSports as a sport and creating tax laws specific to gaming and interactive media. Challenges for startups in this space include talent acquisition and user acquisition costs. Lumikai plans to continue investing in companies leveraging AI and targeting the Indian and global markets.

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VC Lumikai eyes 10-12 deals via India Fund-II

Economic TimesEconomic Times · 1y ago
VC Lumikai eyes 10-12 deals via India Fund-II
Medial

Lumikai, a gaming and interactive media venture capital firm, plans to make 10-12 investments in pre-seed and Series A companies from its $50 million India fund II. The firm currently has $58 million in assets under management from 15 portfolio companies, with over 70% of them generating revenue. Lumikai is focused on interactive media sub-sectors, including content, platforms, tools and technology infrastructure, and systems of play. The Indian gaming industry has seen increased interest from various investors, leading to a surge in game development studios and the return of experienced talent. However, Lumikai sees limited potential in real money gaming and has adjusted its growth forecast for the sector.

Lumikai leads $1.2 Mn seed round in AskMyGuru

EntrackrEntrackr · 2m ago
Lumikai leads $1.2 Mn seed round in AskMyGuru
Medial

Interactive spiritual-tech platform AskMyGuru has raised $1.2 million in a seed funding round led by interactive media and gaming VC fund Lumikai, which invested $800K, along with participation from MPL and select angels, including ex-Match Group Americas CEO Amarnath Thombre. The proceeds will be utilized to enhance the product roadmap, advance its proprietary Ved Vyas AI engine, and expand language support beyond English, Hindi, Kannada, Tamil, and Telugu, AskMyGuru said in a press release. Co-founded in 2025 by Krishna Mohan Vedula and Vivek Sadamate, AskMyGuru is rooted in the teachings of the Vedic Shastras and aims to reimagine spirituality and astrological guidance through new-age interactive experiences. The platform blends AI, gamification, and deeply researched Indic knowledge systems to shape a new genre of spiritual tech that is both culturally resonant and globally relevant. AskMyGuru aims to redefine the spiritual industry for the digital age while empowering gurus with sustainable income through the platform. It reimagines spiritual guidance as an immersive digital journey, creating meaningful connections through thoughtfully designed interactions. The startup embodies “Systems of Play,” i.e., products disrupting legacy industries with lean-forward, interactive, and gamified experiences. AskMyGuru also plans to deepen its domain expertise across financial, relationship, and career guidance. It may compete directly or indirectly with other platforms in this space, such as Astrosage and Astrotalk. Lumikai is an interactive media and gaming VC that invests in companies at the intersection of technology, culture, and new media. It has backed some of India’s leading interactive media companies, including Elo Elo, Bombay Play, All Star Games, Studio Sirah, Supernova, Autovrse, Vobble, and Mayhem Studios, amongst others.

ChrysCapital’s Kshitij Seth on PE firm’s $5 Bn India investment playbook

Inc42Inc42 · 1y ago
ChrysCapital’s Kshitij Seth on PE firm’s $5 Bn India investment playbook
Medial

ChrysCapital, a prominent private equity firm in India, has witnessed a significant shift in its investment strategy over the past two decades. Initially focusing on stable businesses in sectors like financial services, healthcare, and IT services, the firm has now shifted its focus to the new economy, including sectors such as finTech, consumer tech, and internet services. ChrysCapital invests in startups at a later stage of growth, typically during series D or E funding rounds, with a focus on profitability and a potential for listing. The firm aims to add value to its portfolio companies through mentorship and guidance to prepare them for going public. Additionally, ChrysCapital has recently raised funds for a new alternative investment fund named Clarus, which aims to identify investment opportunities across various sectors and company sizes.

Nazara Technologies to invest $100 Mn for M&A in next 24 months

EntrackrEntrackr · 1y ago
Nazara Technologies to invest $100 Mn for M&A in next 24 months
Medial

Nazara Technologies Limited, a gaming and sports media company, has planned to invest $100 million towards mergers and acquisitions (M&A) within the next 24 months. The current plan follows a Rs 760 crore ($90 million) round via a preferential allotment from marquee investors such as Nikhil Kamath, ICICI Prudential MF and Plutus Wealth Management among others. The company will focus on established gaming IP’s, studios and also those advancing in technologies like web3, virtual reality, and AI. “Nazara has seen significant success in its ‘acquire and scale’ strategy over the last few years as can be seen by the post-acquisition growth in Kiddopia, Nodwin Gaming and Sportskeeda among others. The $100 million pledge will further enhance this opportunity for it in that direction. We are particularly focused on investing in and acquiring gaming studios globally with a specific focus on India’s 500 million gamers as well as the large North American market” said Nitish Mittersain, CEO of Nazara Technologies. Nazara’s portfolio companies include, Nodwin Gaming in the esports space, Sportskeeda and Pro Football Network in the sports media space. Nazara’s offerings across the interactive gaming segment include gamified early learning products like Kiddopia and Animal Jam which are global leaders in their respective segments.

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