The online gaming platform based on the idea of Web3 the Kratos Studios has announced that it has secured an amount of 160 Cr INR in the Seed Funding Round. The company also announced that it has completed with the accession of IndiGG on Wednesday, 23rd February 2023.
About Kratos Studio’s Seed Funding Round
The Seed Funding Round for the Company Kratos Studio was led by the Venture Capital Firm Accel. Besides, the seed Funding Round also witnessed the participation of other investors including the venture investing firm in the technology start ups the Prosus Ventures, the Sports and media platform Nazara Technologies limited , Bengaluru based venture Capital firm Nexus Venture Partners, Courtside Ventures and many more.
According to the Company’s statement, it plans to utilise the funds generated from the investors will be utilised to create the product platforms, and also to assist the gaming groups to build communities and compete for the Web3 games across the world. With the accumulation of the 160 Cr funds, the company values up to 1200 Cr India Rupees.
Regarding the utilisation of the funds generated by the company, the founder of the company said that company wishes to provide an opportunity to 500 million gamers to polish the gaming skills and time management to be the best digital creator in the online gaming market. He also added saying that doing this will lead the South Asia into the Digital goods Factory in the gaming world.
About Kratos Studio’s Accession over IndiGG
Besides the fund raised in seed funding round, the company also attains the Decentralised gaming platform IndiGG owned previously by the Yield Guild Games, through the exchange of the token between one blockchain party to the other.
Thus, post the acquisition of the company by the Kratos Studio, the existing token holders of the IndiGG will be swapped with the new tokens at the Token Generation Event. Until this, the existing tokens will be continue to trade. The reports also state that the Chief Executive officers of both groups, the Polygon’s CEO Mr. Naiwal and the CEO of Yield Guild Games Mr. Dizon will continue to work on developing the world’s first ever blockchain based gaming Community.
About the Company Kratos Studio
The Web3 based gaming platform Kratos Studio was established in the year 2021 by the Ex-CEO of the Nazara Technologies Mr Manish Agarwal and Mr Ishank Gupta. The Headquarters of the company is based in Bengaluru, Karnataka.
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