LogInThe money will be invested in local game and entertainment startups over the next 2-3 years.
Image Credit: KRAFTON, Inc.
Korean gaming giant and the developer/publisher behind the renowned battle royale game PUBG Krafton has recently issued a statement announcing its plans to invest another $150 million in India over the next two to three years.
As stated in a TechCrunch report, this announcement comes on the heels of Krafton's previous investment of approximately $140 million in 11 Indian startups and the domestic gaming realm over the preceding three years. The company, which has supported ventures such as Nodwin Gaming, Loco, Pratilipi, and Kuku FM, has outlined its plan to employ the additional $150 million for backing local gaming and entertainment startups.
Krafton also expressed their contentment with the current performance of their existing portfolio startups in India and characterized the country as "one of the premier engines of growth for Krafton globally". "We will continue to invest and support the local ecosystem regardless of any conditions imposed on us," commented the developer.
"We continue to hold a long-term view on India and its vibrant startup ecosystem, and we understand perfectly well that there are a number of reasons that can impact a company's performance, including market conditions and consumer sentiment, among others, and we at Krafton will continue to support them," the announcement reads.
"We believe in the power of Indian IPs and content in making a lasting global impact, and we are excited to achieve new milestones in our journey to unlock the country’s full potential as a global gaming powerhouse," commented Sean Hyunil Sohn, CEO of Krafton India.
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