KRAFTON to invest $150M in India to boost gaming ecosystem
KRAFTON, the South Korean gaming company behind Battlegrounds Mobile India, plans to invest $150 million in India over the next two to three years.
South Korean gaming company, the maker of Battlegrounds Mobile India (BGMI), plans to invest another $150 million in the country over the next two to three years to boost the gaming and startup ecosystem.
The interests of KRAFTON, which has earlier invested $140 million in 11 Indian startups, span esports, multimedia, content creation, audio, creator economy, and deeptech.
"We firmly believe in India’s potential as a key player in the global gaming and technology industry, and our commitment to investing an additional $150 million over the next two to three years reflects our dedication to fueling this growth," said Sean Hyunil Sohn, CEO, KRAFTON India.
"We believe in the power of Indian IPs and content in making a lasting global impact,” he added.
KRAFTON's latest investment in India was in One Impression, a platform that connects brands and content creators. It invested $10 million in a Series A round in March this year.
The largest disclosed investment from KRAFTON was in Pratilipi, a publishing house that focuses on regional storytellers. It invested $45 million in the company in 2021.
India is an important market for KRAFTON. As of July last year, it had more than 100 million players registered on its flagship game BGMI.
However, KRAFTON has also faced setbacks in India. Two of its marquee games have been banned in the country.
PUBG: Battlegrounds was banned in 2020 amid a wider crackdown on more than 100 mobile apps that had connections with China.
In July last year, the Indian Government sent a takedown notice for BGMI to Apple and Google, citing security issues.
Edited by Affirunisa Kankudti