We are looking to invest in startups for the long term: Games24x7 founders on funding
Under Games24x7 Ventures, the company has allocated Rs 400 crore to investing in startups. The venture arm invests in early-stage startups working at the intersection of technology and interactive entertainment space.
Games24x7 is looking to back entrepreneurs who are in it for the long game, Trivikraman Thampy, Co-founder and Co-CEO, said.
Speaking at YourStory's flagship event TechSparks 2024 Mumbai, Thampy said that the VC arm of the company, Games24x7 Ventures, is working with entrepreneurs who are building long-lasting companies.
"We're the kind of people who will say, 'let's be sure that you want to try this and then let's put all our might behind it for the next 10,15, 20 years to really build something'," he said in a fireside chat with Shradha Sharma, Founder and CEO of YourStory.
Co-founder and Co-CEO Bhavin Pandya also highlighted that gaming has become more ubiquitous. From Duolingo to Amazon, several companies are looking at adding some form of gamification to their experiences. "The more content and innovation there is, the better we will do. That’s where the opportunity is," he added.
Under Games24x7 Ventures, the company has allocated Rs 400 crore to investing in startups. The venture arm invests in early-stage startups working at the intersection of technology and interactive entertainment space in India. It invests in pre-Series A and Series A funding stages, as per the company's description on Linkedin.
Games24x7 has raised $107 million to date, according to . It last raised $75 million in a Series C funding round in March 2022.
Edited by Kanishk Singh