Kratos Studios raises $20M and acquires IndiGG
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Kratos Studios announced it has raised $20 million at a valuation of $150 million, and it has acquired IndiGG.
The seed round was led by Accel, with participation from Prosus Ventures, Courtside Ventures, Nexus Venture Partners, Nazara and others.
Game veterans Manish Agarwal and Ishank Gupta started the Bengaluru, India-based Kratos. They are building a Web3 gaming decentralized autonomous organization (DAO) under the IndiGG brand which they have also acquired through a token swap. The funding will enable them to build distribution rails in emerging markets for global Web3 games.
Additionally, the DAO will also invest in identifying, building and developing the most promising Web3 games across the world. Argarwal and Gupta will work closely with Polygon cofounder Sandeep Nailwal and Yield Guild Games (YGG) co-founder Gabby Dizon toward the mission of building the largest gaming DAO in the world.
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Nazara Technologies, where Agarwal was formerly the CEO, has also invested in this round with an intent to collaborate with IndiGG on the Web3 front.
In a statement, Agarwal said “We are providing the 500 million gamers of India an opportunity to leverage their time and skill to become creators of digital goods on the blockchain for global games. This can enable India to transform into the digital goods’ factory for the world.”
And Gupta said in a statement, “The IndiGG stack will partner with existing gaming micro-communities, both
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