A gaming startup from India, 99Games, received money for development from the local venture fund Kalaari Capital.
The amount of investment has not been disclosed, but it is known that almost $4 million has already been invested in the studio.
The strategy of 99Games is as follows: it makes some of the games using existing IP addresses, and creates some of them itself “from scratch”. The former are intended for the Indian market, and the latter are exported. The studio will spend some of the investment funds on creating new games using local IP. The remaining money will be spent on acquiring users for the startup’s flagship project, the Star Chef game. According to representatives of 99Games, the game has already earned $1 million since its launch.
Investing in an Indian startup is a confirmation of what we have already talked about. The local mobile games market is attracting more and more attention.
“India as a gaming market is full of great opportunities: the majority of its population is young people, the growth of smartphone consumption is growing at a phenomenal pace, and its heritage in the field of entertainment culture is very rich,” said Kumar Shiralagi, technical director of the Kalaari Capital investment fund.
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