South Korean gaming titan, Krafton, has unveiled an ambitious plan to pump $150 million into India over the next two to three years. This generous investment aims to uplift the gaming, startup, esports, multimedia, content creation, audio, creator economy, and deeptech domains in the country.
Krafton, famed for its popular game Battlegrounds Mobile India (BGMI), already has a notable presence in India. Previously, it invested $140 million in 11 different Indian startups, including multimedia and esports ventures. Now, it is strengthening its commitment to India.
Sean Hyunil Sohn, CEO of KRAFTON India, expressed immense faith in India’s capability to become a prominent player in the global gaming and technology sector. He emphasized, “We firmly believe in India’s potential, and our commitment to invest an additional $150 million reflects our dedication to fuelling this growth. We believe in the power of Indian IPs and content in making a lasting global impact.”
Among the latest investments by Krafton was the $10 million it pumped into One Impression, a unique platform that joins brands with content creators. This was part of a Series A round in March this year.
Furthermore, Krafton made its most significant disclosed investment of $45 million in Pratilipi, a publishing house specializing in regional storytelling, in 2021. India remains a crucial market for Krafton. As of July last year, over 100 million players were registered on its flagship game BGMI.
However, Krafton’s journey in India hasn’t been without hurdles. Two of its top games were banned in the country. PUBG: Battlegrounds faced prohibition in 2020 amid a broader clampdown on apps linked with China. And last July, the Indian Government issued a takedown notice for BGMI to Apple and Google, citing security issues.
Despite these setbacks, Krafton’s continued investment demonstrates an unwavering belief in the Indian market’s potential. Industry insiders see this move as an extraordinary opportunity to boost India’s growing gaming and technology sectors.