South Korean video game giant Krafton Inc., widely known for its hit games “PUBG” and “BGMI,” has announced a substantial investment of $150 million in India.
This investment will be channeled through strategic partnerships, acquisitions, and startup incubation models.
Krafton’s Global CEO, CH Kim, recently made his fourth visit to India, where he addressed the press and emphasized the importance of this decision. He stated:
“India is the fourth or fifth highest contributing market for Krafton globally. In the times to come, India has the potential to become the largest market for Krafton.”
Last year, Krafton pledged a similar investment of $150 million, when its flagship game, BGMI, made a comeback in India following a year-long ban.
Since then, the company has collaborated with various game developers, startups, esports organizations, and even government entities to utilize this funding.
According to India Today Gaming, Krafton has invested over $160 million in India since 2021, with Mint reporting $170 million.
Earlier this year, Krafton India launched its first cohort under the Krafton India Game Incubator (KIGI) initiative, selecting two promising Indian startups:
- ReDimension Games: Working on an action-adventure game titled ‘Sojourn Past.’
- Shura Games: Developing a culinary puzzle adventure mobile game called ‘Spice Secrets.’
Through the KIGI initiative, Krafton aims to invest in these studios and provide its expertise to help nurture and grow them globally.
Additionally, Krafton is launching India-exclusive games like “Bullet Echo India,” aiming to expand beyond BGMI and cater to Indian gamers’ preferences.
On the entertainment front, like in the web series, podcasting, and storytelling sectors, they have marked their presence through strategic investments in Nodwin Gaming, Kuku FM, and Pratilipi.
Krafton Inc. has also signed a strategic Memorandum of Understanding (MoU) with the Gujarat state government to foster the technology, gaming, and esports ecosystem inside the state.
Recently they teamed up with the Paralympic Committee of India to support Indian athletes with training kits, bags, and caps for the upcoming Paris Paralympics 2024.
Concurrently, Krafton’s efforts in India are already bearing fruit. According to the Q1 2024 preliminary earnings report, Krafton experienced a 25% jump in sales, with BGMI contributing significantly. The game rollout of plenty of localized content, India-specific events, shop additions, and co-marketing with Bollywood movies (Kalki 2898 AD, Yodha) during this period. Plus they also introduced a UniPin web store for a third-party payment platform, aimed at improving profitability.
Undoubtedly, India is one of the rapidly emerging countries in the global games and esports space, and Krafton’s investment is a strategic move to capitalize on this growth.
For more gaming news and updates, be sure to subscribe to Gaming Foodle, your ultimate resource for everything gaming.
Discover more from Gaming Foodle
Subscribe to get the latest posts sent to your email.
