LUMIKAI
Hyderabad esports event makes itself heard amid World Cup din
Even as the country watched the thrilling T20 World Cup final on Saturday, a separate kind of event was unfolding in Hyderabad with a 1,000-person strong crowd cheering the champions of the Battleground Mobile India (BGMI) series.
For creators, regional apps are the gift that keeps on giving
Mid-tier creators are leaving Instagram and YouTube for regional apps like Moj, ShareChat, Rooter, Stan, and Eloelo to earn through virtual gifting. These platforms offer opportunities for creators to engage with audiences and monetize their content effectively.
Sacred Games: How Indian mythology is taking over gaming consoles
Indian gaming enthusiasts now have access to games rooted in Indian history and culture, like managing the Ayodhya Ram Temple's functioning and building the Vande Bharat Express. Players can immerse themselves in the world of the legendary Tamil emperor Rajendra Chola and experience high-speed chases and stealth attacks.
VCs chasing Indian studios working on complex games
Indian studios attract investors for midcore and hardcore games like BGMI and FreeFire. Despite talent shortage, studios like Mayhem and LightFury secure investments. Monetization potential grows with UPI payments, highlighting the evolving gaming landscape in India.
Quick-commerce grows beyond grocery; Tribe Capital’s latest India bet
Happy Friday! Quick-commerce platforms like Zepto, Swiggy’s Instamart, and Zomato-owned Blinkit are seeing a surge in sales for non-grocery items as they take on ecommerce rivals. This and more in today’s ETtech Morning Dispatch.
VC Lumikai eyes 10-12 deals via India Fund-II
Gaming and interactive media venture capital firm Lumikai has $58 million in AUMs from 15 portfolio companies, general partner Salone Sehgal told ET. These portfolio companies have raised over $120 million collectively.
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Ram Mandir sends gaming apps on a temple run
Following the Pran Pratishtha ceremony of Ram Mandir in Ayodhya, a slew of Mandir-focused apps have seen their downloads increase nearly two-fold stoking excitement that the floodgates have opened for gamification of religion and spiritual-focused content.
Virtual reality startup AutoVRse secures $2 million in funding led by Lumikai
AutoVRse said it will use the funding to enhance its foundational enterprise product, VRseBuilder, strengthen the team, and expand into other territories such as the US.
Karnataka's Kitven launches Rs 20 crore fund for AVGC sector
The Kitven Fund-4 (AVGC) is poised to play a transformative role in supporting startups and fostering innovation in animation, visual effects, gaming, and comics, further solidifying Karnataka's position as a leader in the sector.
Winzo launches Bharat Tech Triumph to facilitate export of Made in India games
The company said this program focuses on nurturing homegrown startups by providing crucial resources for growth such as offering a global platform and access to FDI.
ETtech Explainer: Esports set to reach new heights in India in 2024
Organisers expect on-ground events to continue to gain in popularity. Game publisher Krafton, which disbursed Rs 3.8 crore in 2023, also said both the prize size and scale of its tournaments shall be higher in 2024 with more penetration in tier-2 and tier-3 cities.
23 going on 24: Making sense of a chaotic yet colourful year for India's tech sector
From 15.4 billion downloaded games to 138.08 crore people covered by Aadhar, India's tech sector had an eventful 2023. ET takes a look at the top 23 moments from 2023.
Game theory: How fortunes of India's gaming industry turned from being a sunrise sector
From being a sunrise sector to a stressed one, fortunes of India’s gaming industry have quickly turned. ET looks at what is driving the bullish investor sentiment in the sector despite recent setbacks
Indian game streaming companies eyeing a bigger play abroad
Game streaming platforms allow gamers and gaming influencers to broadcast their gameplay sessions and interact with others. While gamers can do the same on YouTube, dedicated platforms such as Rooter and Loco help them reach more viewers by pushing notifications or through promotions.
VC firm Lumikai cuts growth projection for India’s real-money gaming segment
The share of RMG in the Indian gaming market, which today is nearly 60%, could reduce to 32% by fiscal 2028, said the State of India Gaming FY23 report released by Lumikai.
Nazara eyes tax crisis-hit real money game companies
The RMG industry is facing a tax demand of more than Rs 1.5 lakh crore, after the government decided to levy a 28% GST on deposits made by users to play a game, instead of on the winnings.
Indian digital gaming industry to more than double to $7.5 billion by FY28: Lumikai
"India's gaming market hit USD 3.1 billion in FY23 and is projected to reach USD 7.5 billion by FY28. Future growth is expected to be driven by growth in in-app purchases and ad revenues in casual and mid-core games," the report said.
Gaming startup QuriousBit raises $2 million in funding from Lumikai, General Catalyst
The funds will be used to expand the team size, currently at seven, in product and system development and in marketing its games. QuriousBit did not disclose the valuation at which the firm raised the funds.
Gaming major Krafton to invest another $150 million in Indian startups
Over the last three years, the firm has invested about $140 million in 11 Indian gaming and content-driven ventures including Nazara Technologies’ unit Nodwin Gaming, Pratilipi, KukuFM and Loco.
Key Byju’s board members, auditor resign; Modi urges Micron to put India on semiconductor map
It just doesn’t seem to end for Byju’s. As if loan defaults, losses, layoffs and other setbacks weren’t enough, three key board members of the edtech major, as also the company’s statutory auditor, resigned on Thursday.
HP announces latest line-up of Omen & Victus laptops, expands gaming portfolio
HP, with 30.2% market share in 2022, has the largest share in India’s PC industry. However, it had dipped 3.8% from a year earlier. Other players in the Indian PC and laptop industry include Dell Technologies with a share of 25.2% and Lenovo having 18.9% share.
Gaming focused VC Lumikai unveils Fund II, eyes $50 million corpus
The so-called Fund II follows Lumikai’s first fund that raised $40 million in 2020, a year after its inception. It has backed startups like Loco, Elo Elo, and Bombay Play previously.
Indian girl gamers fight keyboard warriors and online abuse
According to a recent report released by Lumikai, 43% of India's 507 million gamers are female - the first year they have counted players by gender.
Online games with Indian themes, characters becoming all the rage
This trend, which follows the rising popularity of India-focused content — both contemporary as well as drawn from folklore and mythology — that is visible on television shows, music, animation and comics is pushing gaming companies to also follow suit, say industry executives.
Indian e-sports industry to grow to $140 million by 2027: report
The report, brought out by AWSA and Lumikai found that the number of e-sports players in India grew four-fold, from 150,000 in 2021 to 600,000 in 2022, and is expected to grow 2.5x over the next five years to reach 1.5 million by 2027.
Indian esports industry to grow to $140 million by 2027: report
The report found the number of esports players in India grew four-fold - 150,000 in 2021 to 600,000 in 2022 - and is expected to grow 2.5 times over the next five years to reach 1.5 million by 2027.
CloudFeather Games raises $1.25 million in funding from Lumikai
CloudFeather Games will use the funding to hire key personnel in business development, product, and tech.
VC fund Lumikai strengthens leadership team
Rajadhyaksha will oversee finance, fund administration and operations, lead on regulatory and compliance. Shashwat will play a key role across the entire investment stack. His role will also be extended to deal flow sourcing, transaction negotiation and management, portfolio management and support, thesis development.
Eloelo raises $13 million in funding co-led by KB Investments, Kalaari Capital
The new capital will be used to expand the firm's tech, product, and content teams, as well as to foster new partnerships with creators and help them reach millions of consumers, according to the company.
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