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News on Medial
Gaming major Krafton to invest another $150 million in Indian startups
Economic Times
·
1y ago
Medial
Gaming giant Krafton plans to invest an additional $150 million in India, reaffirming its commitment to the Indian gaming market. The investment aims to bolster the gaming ecosystem, develop local talent, and enhance technological infrastructure. Krafton's substantial funding demonstrates its optimism in India's gaming potential and its aspiration to contribute to the growth and innovation of the country's gaming industry. Over the last three years, the firm has invested about $140 million in 11 Indian gaming and content-driven ventures including Nazara Technologies’ unit Nodwin Gaming, Pratilipi, KukuFM and Loco.
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Krafton enters Indian casual gaming segment with CookieRun, plans $140 million investment in startups
Economic Times
·
8m ago
Medial
Korean gaming company Krafton announced its foray into the casual gaming segment with the launch of CookieRun in India. The game will feature India-themed characters and is tailored for Indian players. Krafton also revealed plans to invest $140 million in Indian gaming and entertainment startups over the next 12-18 months. The company aims to introduce 3-4 new game titles in India by 2025 and will onboard startups through its Krafton India Gaming Incubator (KIGI) program.
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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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BGMI maker Krafton chooses India as its biggest bet
Livemint
·
1y ago
Medial
South Korean gaming company, Krafton Inc, is focusing on India as its largest investment market. Already investing $170 million, Krafton has set aside another $150 million to be used for partnerships, acquisitions, and startup incubation in the Indian gaming and content industry. Krafton's CEO, CH Kim, stated that India has the potential to become the company's biggest market due to its market size and increasing interest in e-sports. Krafton has already invested in Indian companies such as Nodwin Gaming, Kuku FM, and Pratilipi. The company's net revenue for January to March was $483.2 million, with over 60% derived from mobile platforms like Battlegrounds Mobile India.
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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 India launches inaugural cohort under gaming incubator, invests in 2 companies
Thehindubusinessline
·
1y ago
Medial
South Korean game developer KRAFTON India has launched KRAFTON India Gaming Incubator (KIGI), aiming to nurture game development talent in India. The program offers mentorship for a duration of six months to a year, along with grants of up to $150,000. Two companies, ReDimension Games and Shura Games, have already been selected for the program. KRAFTON India has committed to investing $150 million over the next few years in Indian gaming and entertainment start-ups. To date, the company has invested $160 million in Indian start-ups.
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KRAFTON To Set Up R&D Facility In India By 2026
Inc42
·
12m ago
Medial
KRAFTON's Indian head, Changhan Kim, highlighted Bengaluru and Pune as leading contenders for the company's upcoming facility. However, specific details are still being worked out. Additionally, Kim expressed concerns about the scarcity of high-quality talent in the Indian gaming industry. KRAFTON has already invested $160 million in Indian startups this year and aims to inject an additional $150 million over the next two to three years.
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How Krafton India's latest gaming incubator would benefit Indian startup ecosystem?
Startup News FYI
·
1y ago
Medial
South Korean gaming company Krafton has launched the KRAFTON India Gaming Incubator (KIGI) program to support and nurture early-stage startups, student teams, and independent game developers in India. The program will provide mentorship, access to resources, and potential venture capital funding opportunities for 6-10 teams annually. KIGI will focus on startups that are passionate about game development and interested in scaling their ventures. The initiative is part of Krafton's commitment to investing $150 million in India to foster growth in the gaming and startup ecosystem.
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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 major Krafton launches incubator programme for Indian startups
Economic Times
·
1y ago
Medial
Krafton, the gaming company behind BattleGrounds Mobile India, is launching a gaming-focused incubator program for Indian startups. The program will enroll six to ten teams every year and offer funding support ranging from $50,000 to $150,000, with exceptional teams eligible for up to $250,000. Participants will receive mentorship from gaming industry executives and have access to Krafton's resources. The program is open to early-stage startups, students, and independent developers of games across various formats. Krafton has already invested $140 million in 11 Indian gaming and content-driven ventures.
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Krafton leads Rs 29 Cr round in Shuru at Rs 135 Cr valuation
Entrackr
·
2m ago
Medial
For the fiscal year ending in March 2024, Shuru reported Rs 26.84 lakh in revenue and Rs 3.31 crore in losses. It has yet to file its FY25 financials. Shuru, a location-based social networking platform, has raised Rs 29 crore in a fresh funding round, sources aware of the development told Entrackr. South Korean gaming major Krafton has acquired around 16% stake by investing Rs 21 crore in Shuru, according to sources cited above. Founded in 2021 by Mayank Bhangadia and Harsh Chhabra, Shuru has expanded its presence, reaching over 2 million active users across more than 600 cities and 8,000 sub-districts. The platform enables real-time engagement, civic participation, and support for local businesses, with the goal of connecting citizens to their neighborhoods. While Shuru had previously secured backing from investors such as Omidyar Network India, Titan Capital’s Kunal Bahl and Rohit Bansal, Eximius Ventures, and Shastra VC, the investment from Krafton is expected to support its next phase of growth and scaling. Shuru’s regulatory filing with MCA also shows that it is raising Rs 29 crore from Krafton, Omidyar Network, and Eximius Trust. As per Entrackr’s estimates, the firm will be valued at around Rs 135 crore (post money). For the fiscal year ending in March 2024, Shuru reported Rs 26.84 lakh in revenue and Rs 3.31 crore in losses. It has yet to file its FY25 financials. Krafton's interest in Shuru is part of its strategy to invest in Indian startups, reflected in its recent plans to invest over $200 million in the country's gaming and digital sectors. In August 2023, BGMI-maker Krafton committed to invest $150 million in India over the next two to three years. Some of its notable bets include Kuku FM, Cashfree, One Impression, Bobble AI, Pratilipi, and Nautilus, among others.
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