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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.

Nikhil Kamath, Ankit Nagori and Prashanth Prakash now Bengaluru franchise owners of e-cricket league

Economic TimesEconomic Times · 10m ago
Nikhil Kamath, Ankit Nagori and Prashanth Prakash now Bengaluru franchise owners of e-cricket league
Medial

- JetSynthesys has announced the sale of franchise teams for the second season of the Global e-Cricket Premier League (GEPL), with Nikhil Kamath, Ankit Nagori, and Prashanth Prakash becoming joint owners of the Bengaluru franchise team. - The GEPL, a digital entertainment and technology company, aims to enhance the gaming experience by selling teams to specific cities and engaging fans on a deeper level. - The first season of GEPL, held in December last year, saw eight teams competing in the Real Cricket video game created by JetSynthesys, reaching over 70 million viewers across multiple platforms. - Nikhil Kamath, co-founder of Zerodha, expressed excitement about fostering young talent and shaping the future of esports in India through the vibrant gaming industry. - With the goal of turning gaming into a significant contributor to India's GDP and a fulfilling career option, Ankit Nagori believes the partnership with JetSynthesys will help create opportunities for talented individuals. - The GEPL plans to build and nurture players, providing them with monthly salaries and the potential for brand endorsements as content creators, ultimately driving viewership and success in the e-cricket industry.

Harsha Bhogle backs cricket gaming startup Hitwicket

EntrackrEntrackr · 1y ago
Harsha Bhogle backs cricket gaming startup Hitwicket
Medial

Strategy-driven cricket gaming startup Hitwicket partners with cricket commentator Harsha Bhogle to enhance the cricket gaming experience of fans worldwide. Harsha Bhogle will play the role of a strategic investor and infuse his expert insights to craft cricket content with Hitwicket, merging his cricketing knowledge with the virtual world of mobile gaming. Founded in 2020 by Keerti Singh and Kashyap Reddy, Hitwicket is a cricket strategy gaming startup aiming to become a global cricket gaming brand from India. The Hyderabad-based startup had raised $3 million in its seed round from Prime Venture Partners in 2022. With over 5 million downloads globally, Hitwicket is a virtual world where every user plays the role of an owner, coach, and captain of a cricket team, ensuring enduring engagement. Harsha Bhogle’s involvement is expected to enhance Hitwicket’s global outreach to 50 million downloads within the next two years. The strategy-based cricket game is played in 109 countries around the world with the top four markets being India, the UK, USA, and Australia.

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