JetSynthesys Pvt. Ltd, a digital content and technology platform that is part of the diversified JetLine Group of Companies, has raised Rs 300 crore (approximately $40 million at current exchange rate) in funding.
Other investors in JetSynthesys include the family offices of the promoters of entities such as engineering company Thermax, diversified manufacturer Triveni Group, and the DSP Group. The company operates products and platforms in areas such as gaming, wellness, financial technology, and social entertainment.
It will use the capital it has raised to further develop its suite of digital products and games, as well as strengthen its technological infrastructure in areas such as artificial intelligence, blockchain, augmented and virtual reality, and mixed reality.
The funding will also be used to deepen its presence in the global e-sports space, and create strategic partnerships in markets such as Japan, the United States, and Europe. Some of its current tie-ups include ones with wrestling entertainment brand WWE and American boxer Floyd Mayweather.
Its properties include Nodwin Gaming, an e-sports joint venture that JetSynthesys says has generated Rs 100 crore in revenues in four years. Other JetSynthesys properties are expected to reach Rs 100 crore in annual revenue within the next two to three years, it said in its statement.
“We want to use this latest fundraise to create more success stories at scale, across varying demographics, geographies, and socio-economic classes -- similar to what we achieved with Nodwin Gaming,” JetSynthesys vice-chairman and managing director Rajan Navani said.
The company says it has offices in markets including the US, UK, Japan and the European Union (EU), and that it has over 100 clients.
“In the light of recent global developments, digital products and services are the need of the hour, since they help everyone feel connected, while also contributing towards social distancing. Gaming, social communities, and digital entertainment have thus become basic essentials in this new normal,” Adar Poonawalla said.