South Korean gaming company Krafton, Inc., which has invested in Indian entertainment and gaming startups like Kuku FM, Nodwin Gaming, One Impression, Loco, and Nautilus Mobile, has earmarked an additional $150 million to invest in Indian companies over the next two to three years.
“We firmly believe in India’s potential as a key player in the global gaming and technology industry, and our commitment to invest an additional $150 million over the next two to three years reflects our dedication to fueling this growth,” said Sean Hyunil Sohn, chief executive officer, Krafton India.
Krafton made its first India investment in March 2021. Since then, it has invested $140 million in 11 Indian startups.
In addition to game development studios, Krafton invests in several other sectors, including esports, multimedia entertainment, content creation and audio platforms. It has also started making bets on emerging sectors like the creator economy and deep-tech in the past few months. Separately, Krafton is also a limited partner in homegrown gaming venture capital firm Lumikai.
Krafton is the developer of the popular battle royale game Battlegrounds Mobile India (BGMI). It launched three more game titles in the past year in India. These were The Callisto Protocol, Road To Valor: Empires, and Defense Derby.
India’s gaming market has been on the rise. Mordor Intelligence predicts the sector is likely to grow at a compound annual growth rate of 15.68% to reach $6.26 billion by 2028, up from $3.02 billion in 2023.