Kratos Studio raises Rs 160 cr in seed round, acquires IndiGG

• ByStartupStory     |    March 7, 2023

Kratos Studios, the Web3 gaming startup co-founded by ex-CEO of Nazara Technologies, Manish Agarwal, and angel investor Ishank Gupta, has raised Rs 160 crore in funding at a valuation of Rs 1,200 crore. The investment was led by Accel Partners and included participation from several other investors such as Prosus Ventures, Nexus Venture Partners, Courtside Ventures, and Nazara.

Kratos Studios intends to use the newly raised capital to establish distribution channels in developing markets for worldwide Web3 games. The company aims to enable over 500 million gamers in South Asia to utilise their skills and time to create digital assets on the blockchain for games globally, transforming the region into a digital goods production hub for the gaming industry. 

Manish Agarwal mentioned in a statement that this initiative would offer “South Asian gamers an opportunity to become creators and contribute to the gaming world”.

In this funding round, Nazara Technologies has also participated, and the company aims to collaborate with IndiGG in the Web3 arena.

IndiGG is a gaming community (DAO) based on blockchain technology and is working to establish distribution networks for global Web3 games in emerging markets. It plans to invest in the most promising Web3 games globally.

Kratos Studios has announced that its co-founders will work closely with Sandeep Nailwal, the co-founder of Polygon, and Gabby Dizon, the co-founder of Yield Guild Games (YGG), to establish the first gaming DAO globally.

Subrata Mitra, a Partner at Accel, stated that “blockchain has the potential to revolutionise the gaming industry and drive growth in developing countries”. He believes that the team at Kratos Studios, along with IndiGG, is the most suitable to unlock the value of this technology for gamers. Mitra further added that “they are dedicated to developing a thriving gaming ecosystem in collaboration with IndiGG”.

Follow Startup Story