The platform has raised a total of $51 million in funding, including a $42 million Series A round in 2022 led by Hashed, with participation from Makers Fund, Catamaran Ventures, and Korea Investment Partners. Investors from the company’s seed round, such as Krafton, Lumikai, and Hiro Capital, also participated in this funding round.
Author: Imran Fazal
ZEEL receives shareholder nod to raise Rs 2000 crore via issuance of securities
On July 11, Zee Entertainment had informed the bourses that its board of directors will meet on July 16 to discuss fundraising options. These options include private placements, Qualified Institutional Placements (QIP), and preferential issues.
GCPL looks at gaming and esports IPs for advertising opportunities: EXCLUSIVE
Ashwin Moorthy, Chief Marketing Officer of GCPL, spoke to Storyboard18 about the brand’s plan to invest in gaming and esports as a segment and GCPL’s marketing and advertising strategy for recently acquired RCCL products.
Saudi Arabia to host first ever Olympic Esports Games in 2025
Last year, Saudi Arabia launched an annual Esports World Cup, with the first edition currently taking place in Riyadh from July 3 to August 25.
Nikon India sticks to imports amid growth, aims to cross Rs 1000 crore revenue mark
According to a Mordor Intelligence report, the global digital camera market size is estimated at USD 5.39 billion in 2024 and is expected to reach USD 6.83 billion by 2029, growing at a CAGR of 4.85% during the forecast period (2024-2029).
Indian gaming industry awaits tax exemptions, SEZ in upcoming budget
Recently, a consortium of 70 Indian gaming companies wrote to the PMO and I&B Ministry suggesting a reduction of GST on video games to a 12 percent bracket to promote sustainability and better cash flow for game companies, as well as exemptions on import/customs duties, IGST, and any cess for proprietary hardware development kits used for testing and developing video games.
Cheating scandal hits Philips OneBlade BGMI Cup, Nodwin bans three teams
CS Esports, Falcon Esports, and RK Esports were banned for using third-party software in their initial five matches. Interestingly, they were among the top four teams in the overall standings after Day 1.
GOAT Brand Labs raises $21 million to drive omnichannel expansion
The fresh capital will be used to drive the growth of its portfolio brands, such as Chumbak, trueBrowns, The Label Life, Pepe Jeans Inner Fashion, Voylla, Petcrux, and Nutriglow.
Indian esports ecosystem slows down. Who is to blame?
In India, the esports ecosystem revolves around two major game titles, Krafton’s Battleground Mobile India (BGMI) and Riot Games’ first-person shooter (FPS) game Valorant. Valve’s Counter-Strike 2 has yet to make a significant impact.
Indian gaming consortium writes to PMO, I&B Ministry seeking tax relief and clear classification
The consortium has made 10 suggestions to the newly formed government which includes reducing the GST on video games to a 12% bracket to promote sustainability and better cash flow for game companies, exempt import/customs duties, IGST, and any cess for proprietary hardware development kits used for testing and developing video games.