Gaming Tech - India - Tracxn Feed Report - 27 Apr 2022

TRACXN FEED GEO REPORT
GAMING TECH - INDIA
APRIL 27, 2022

Contents
Overview
Funding
Investors
Acquisitions
IPOs
Companies
Unicorns
Business Models
News
Appendix
Feed Geo Report - Gaming Tech - India - Apr 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
Overview Summary
Funding Market Map
Investors
Acquisitions
IPOs
Companies
Unicorns
Business Models
News
Appendix
Gaming Tech - India - Summary (1/2)
Top Companies Key Stats
MPL Games24x7
(2018, Bangalore, $389M) (2006, Mumbai, $107M) 1,215 142 $1.3B
Nazara Moonfrog Labs Companies Funded Total Funding
(2000, Mumbai, $133M) (2013, Bangalore, $16.0M) Companies
Games2win Media PlaySimple

(2005, Mumbai, $13.1M) (2014, Bangalore, $4.5M)
$891M 20 4
Loco WinZO
(2020, Mumbai, $51.0M) (2016, Delhi, $92.7M) Funding in last 2 Acquisitions IPOs
years
Scope of Feed Top Cities by Companies

Total Companies
What is included
Companies providing technology solutions for game development (ex: Game Bangalore 158
Engine,BaaS) & game monetization (in-game ads & in-game purchasing), companies
providing analytics tools to monitor various game performance metrics, market Mumbai 145
research companies focusing on games and who have a..
Delhi 112
What is not included
Hyderabad 85
Companies that are not based out of India and whose primary focus is not gaming
Pune 52
Unfunded Companies Funded Companies
4 Feed Geo Report - Gaming Tech - India - Apr 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Gaming Tech - India - Summary (2/2)
# Companies by Stage Y-o-Y Funding $ Funding by Cities
Total Funding: $1.3B
Bangalore (37.7%)
Founded 1215 -
Mumbai (29.8%)
Funded 142 100%
Delhi (19.6%)
Series A+ 26 18% Pune (7.3%)
Gurgaon (1.9%)
Series B+ 10 7%
Noida (1.4%)
Series C+ 5 3%
Udupi (0.8%)
Series D+ 1 0% Others (1.4%)
$ Funding # Rounds
Top Funding Rounds in last 2y Top Investors Top Exits

Company Round Details Stage Investor # Portfolio Type Company Acq. Price/IPO Mcap
MPL AngelList 5 PlaySimple
(2018, Bangalore, $389M)
$90M-Series C Seed (2014, Bangalore, $4.5M)
$360M
Nazara 4
Stage
Games24x7 First Cheque 4 Bash Gaming
$75M-Series C Acq. (2010, Bangalore, $1.0M)
$160M
(2006, Mumbai, $107M)
Sequoia Capital 3
Zupee Early Moonfrog Labs
$72M-Series B Nexus Venture Partners 2 (2013, Bangalore, $16.0M)
$90.0M
(2017, Delhi, $121M) Stage
Kalaari Capital 2
WinZO Nazara
$65M-Series C (2000, Mumbai, $133M)
$461M
(2016, Delhi, $92.7M) Kotak Mahindra Bank 1
Late IPO
Loco AngelList 1 7Seas Entertainment
$42M-Series A Stage -
(2020, Mumbai, $51.0M) Kalaari Capital 1 (2005, Hyderabad)
Marketmap: HR Tech Sep 2020
Marketmap - Gaming Tech - India
GAME DEVELOPERS GAMING PLATFORMS
Top Business Models in last 1y
MOBILE GAMES MOBILE GAMES
Business Model Funding
Real Money eSports Gaming
$155M
Platforms
PC & CONSOLE GAMES ESPORTS
Mobile Gaming Platforms $104M
Online Casino Game

$93.1M
GAMING ARCADES GAME PUBLISHERS Developers
Mobile Casino Game

$93.1M
Developers
eSports Live Streaming

$76.0M
Platforms
ESPORTS LEAGUE ORGANIZERS ESPORTS BROADCASTERS Game Streaming Management

$38.1M
Solutions
Mobile Core Game Developers $10.0M
Mobile Game Publishers $10.0M

TECHNOLOGY ENABLERS
Mobile Social Game
$7.0M
Developers
Mobile Casual Game

$6.1M
Developers
*Upcoming Business Model

Contents
Overview
Funding Funding Funnel
Investors Y-o-Y Funding Trends
Acquisitions Y-o-Y Stage wise Funding
IPOs Median Round Size by Stage
Companies New Entrants to Funded Club
Unicorns Funding by Team Background - College wise
Business Models Funding by Team Background - Company wise
News List of Key Funding Rounds
Appendix
Funding Funnel
# Companies Funding Funnel Moved from Avg. Years from first
Stage
% previous Stage % funding
Founded 1,215 - - -
Funded 142 100% 12% -
Series A+ 26 18% 18% 2.5
Series B+ 10 7% 38% 4.2
Series C+ 5 4% 50% 8.2
Series D+ 1 1% 20% 2.7
Y-o-Y Funding Trends
Top Funding Rounds in last 2 years
Company Funding Round
MPL
(2018, Bangalore)
$150M - Series E
MPL
(2018, Bangalore)
$98.4M - Series D
MPL
(2018, Bangalore)
$90.0M - Series C
Games24x7
(2006, Mumbai)
$75.0M - Series C
Zupee
(2017, Delhi)
$72.0M - Series B
WinZO
(2016, Delhi)
$65.0M - Series C
Loco
(2020, Mumbai)
$42.0M - Series A
JetSynthesys
(2012, Pune)
$40.2M - Series B
Zupee
$ Funding (3y) CAGR = +130% (2017, Delhi)
$30.0M - Series B
Rooter
$ Funding (5y) CAGR = +93% (2016, Delhi)
$25.0M - Series A
Note: Funding includes only Equity Funding. It excludes Debt, Grant, Post-IPO and ICO funding.
Funding by Geography
Distribution by Cities - Total Funding ($)
# Rounds Top Funded Companies
Bangalore 78 MPL ($389M), Moonfrog Labs ($16.0M), Turnip ($14.7M)
Mumbai 59 Nazara ($133M), Games24x7 ($107M), Smaaash Entertainment ($61.2M)
Delhi 53 Zupee ($121M), WinZO ($92.7M), Rooter ($30.0M)
Pune 17 JetSynthesys ($91.7M), SuperGaming ($6.8M), Rolocule ($58.6K)
Gurgaon 8 NODWIN Gaming ($22.4M), Totality Corp ($1.8M), Microgravity ($1.2M)
Noida 8 Octro ($15.0M), Awon Gamez ($2.0M), FanGame Live ($1.5M)
Udupi 4 99Games ($11.2M), ,
Hyderabad 9 Nautilus Mobile ($5.4M), Empower Labs ($1.9M), HitWicket ($417K)
Y-o-Y Stage-wise Funding Trends
Stage-wise $ Invested Stage-wise Number of Rounds
$126M $38.1M $99.2M $205M $464M $259M 23 26 30 28 43 17
Seed Early Stage Late Stage Total Funding Seed Early Stage Late Stage Total Rounds
Note: Seed includes Seed, Angel rounds. Early Stage includes Series A,B rounds. Late Stage includes Series C+, PE, Pre-IPO rounds.
Median Round Size by Stage
Stage Round size - Min, Median, Max (2017-2022) Y-o-Y Median Round Size (2017-2022)
Late Stage $90.0M

$13.7M $150M
Series B $20.3M
$734K $72.0M
Series A $7.4M
$1.1M $42.0M
Seed $476K
$3.1K $9.0M
2017 2018 2019 2020 2021 2022 YTD
Note: Seed includes Seed, Angel rounds. Early Stage includes Series A,B rounds. Late Stage includes Series C+, PE, Pre-IPO rounds.
New Entrants to Funded Club
Notable
Companies
Dangal Games MPL SuperGaming Turnip Loco Nautilus Mobile
(2017, Delhi, $1.4M) (2018, Bangalore, (2017, Pune, $6.8M) (2020, Bangalore, (2020, Mumbai, (2013, Hyderabad,
$389M) $14.7M) $51.0M) $5.4M)
Funding by Team Background - College wise
Distribution by Team Background
IIT Kanpur MPL Zupee GetMega

$389M $121M $9.0M
BITS Pilani MPL Norah AI Dastan games

$389M $8.9M -
IIM Calcutta WinZO PLAKC Tictok Games

$92.7M $789K $476K
University of Loco SYNQUA

Pennsylvania $51.0M -
Wharton School Loco

$51.0M
IIT Kharagpur Moonfrog Labs Bombay Play FanClash

$16.0M $9.5M $1.0M
INSEAD Moonfrog Labs ReInGames Gamesbond

$16.0M $703K -
University of Games2win Media

Manchester $13.1M
Total Funding
Note: Number in the bracket is the Total Funding raised by the Company
Funding by Team Background - Company wise
Bain WinZO Gamezop ReInGames

$92.7M $5.0M $703K
Goldman Sachs Loco

$51.0M
GreedyGame
Google Moonfrog Labs Crispy Games
$16.0M
Media $40.0K
$1.1M
Microsoft Moonfrog Labs KHEL GULLY Moong Labs

$16.0M $750K -
GreedyGame
Paypal Turnip
$14.7M
Media
$1.1M
Gojek SoStronk
$3.9M
Facebook EsportsXO Frowli

$1.1M -
HitWicket Makkajai HueSphere

Amazon
$417K $357K -
Total Funding
Top Funding Rounds in last 24 months (1/2)
Company $ Amount Round Date Investors
MPL (2018, Bangalore, $389M) $90M Series C Sep 2020 RTP Ventures, GV, Fenox Venture Capital, CE Venture Ca.., +8 more
Games24x7 (2006, Mumbai, $107M) $75M Series C Mar 2022 Raine Group, Tiger Global Management, Malabar Investments
Zupee (2017, Delhi, $121M) $72M Series B Jan 2022 AJ Capital Partners, WestCap, Tomales Bay Capital, +3 more
WinZO (2016, Delhi, $92.7M) $65M Series C Apr 2021 Kalaari Capital, Stuart Partners, Courtside Ventures, +2 more
Loco (2020, Mumbai, $51.0M) $42M Series A Mar 2022 Hiro Capital, Korea Investment Partners, Lumikai, +4 more
JetSynthesys (2012, Pune, $91.7M) $40M Series B Jul 2020 DSP Group, Triveni Engineering & Industries, Jetline.., +2 more
Zupee (2017, Delhi, $121M) $30M Series B Aug 2021 Orios Venture Partners, Smile Group, Tomales Bay Cap.., +1 more
Rooter (2016, Delhi, $30.0M) $25M Series A Jan 2022 Health Tech Partners, Goal Venture Partners, leAD Sp.., +5 more
Games24x7 (2006, Mumbai, $107M) $18M Series B Jun 2021 Arthur L Burns Irrevocable Trust, Raine Group, Frede.., +7 more
WinZO (2016, Delhi, $92.7M) $18M Series B Sep 2020 FinAdvantage, IndigoEdge, Kalaari Capital, Courtside V.., +3 more
Nazara (2000, Mumbai, $133M) $14M Series C Feb 2021 Hornbill Capital
Turnip (2020, Bangalore, $14.7M) $13M Series A Dec 2021 Better Capital, Angel Deal Holdings, The SEA Capital, +18 more
Top Funding Rounds in last 24 months (2/2)
Company $ Amount Round Date Investors
LILA Games (2020, Bangalore, $12.8M) $10M Series A Mar 2022 Rainfall Ventures, Krafton, Sequoia Capital, Galaxy In.., +4 more
Bullieverse (2021, Bangalore, $4.0M) $4M Series A Feb 2022 Mintable, Exnetwork Capital, Genblock Capital, Good Ga.., +11 more
Totality Corp.. (2017, Gurgaon, $1.8M) $2M Seed Oct 2021 Leo Capital, Mayfield
Blue Billion Te.. (2016, Kolkata) - Seed Aug 2021 India Accelerator
Contents
Overview
Funding
Investors YoY Investor Trends
Acquisitions Most Active Investors: Accelerators & Incubators
IPOs Most Active Investors: VC - Seed
Companies Most Active Investors: VC - Early
Unicorns Most Active Investors: VC - Late
Business Models Most Active Investors: PE
News
Appendix
Y-o-Y Active Investors
Y-o-Y # of unique Institutional Investors in Gaming Tech - India Top Institutional Investors in the last 2 years
Stage Investor name # Rounds in Last 2y1
AngelList 6 (▲500%)
Seed Stage Lumikai 5 ( -- )
First Cheque 4 (▲300%)
Krafton 4 ( -- )
Early Stage WestCap 3 (▲200%)
Makers Fund 3 ( -- )
GV 3 ( -- )
Late Stage RTP Ventures 3 ( -- )
SIG 3 ( -- )
First-time Investors Existing Investors
Note: First-time investors and Existing Investors are calculated from the available Equity Funding Rounds on Tracxn Platform. 1.The numbers in bracket correspond to the change from previous period.
Most Active Investors: VC - Seed
# Overall # Investments in
# Investor Name Country Notable Investments in Feed*
investments Feed*
1 Investor Location Portfolio count Investments in Feed Notable Investments in Feed
2 Lumikai India 6 5 Loco ($51.0M), Bombay Play ($9.5M), Eloelo ($2.5M)
3 Play Ventures Singapore 65 4 MPL ($389M), IndiGG ($6.0M), Deftouch ($2.2M)
4 Velo Partners United Kingdom 32 4 WinZO ($92.7M), Junglee Games ($5.4M), Gamezop ($5.0M)
5 First Cheque India 60 4 Tamasha ($3.3M), Chirrup ($605K), Tournafest ($410K)
6 Good Game Ventures 7 4 Nazara ($133M), NODWIN Gaming ($22.4M), SoStronk ($3.9M)
7 Blume Ventures India 208 3 Mech Mocha ($9.5M), Hashcube ($953K), Rolocule ($58.6K)
8 Lead Angels India 43 3 Gamerji ($1.7M), GameXS ($90.8K), PlayX ($35.5K)
9 Titan Capital India 145 3 KHEL GULLY ($750K), ReInGames ($703K), Chirrup ($605K)
10 Icebreaker India 48 3 Tamasha ($3.3M), Global eSports ($563K), GameEon ($520K)
Note: *Feed = Gaming Tech - India. The number in bracket refers to the total funding raised by the company.
Most Active Investors: VC - Early Stage
investments Feed*
2 Sequoia Capital United States 1714 7 MPL ($389M), Nazara ($133M), Moonfrog Labs ($16.0M)
3 Kalaari Capital India 120 5 WinZO ($92.7M), 99Games ($11.2M), Bombay Play ($9.5M)
4 Elevation India 149 3 Turnip ($14.7M), IndiGG ($6.0M), PlaySimple ($4.5M)
5 Chiratae Ventures India 153 3 PlaySimple ($4.5M), Tamasha ($3.3M), Kreeda Games
6 Matrix Partners India India 139 3 Zupee ($121M), Red Monster Games ($1.3M), Twist Mobile
7 Accel United States 950 2 Mech Mocha ($9.5M), GetMega ($9.0M)
8 Lightspeed Venture Partners United States 706 2 IndiGG ($6.0M), Rheo ($2.0M)
9 MK Venture Capital Germany 156 2 LILA Games ($12.8M), Gamezop ($5.0M)
10 Tiger Global Management United States 673 2 Games24x7 ($107M), Moonfrog Labs ($16.0M)
Note: *Feed = Gaming Tech - India. The number in bracket refers to the total funding raised by the company. Early Stage refers to Series A and Series B rounds
Most Active Investors: VC - Late Stage
investments Feed*
2 Founders Circle Capital United States 69 1 MPL ($389M)
3 GIC Singapore 227 1 Nazara ($133M)
4 Octahedron Capital United States 6 1 MPL ($389M)
5 Tomales Bay Capital United States 4 1 Zupee ($121M)
6 CE Venture Capital Canada 4 1 MPL ($389M)
Note: *Feed = Gaming Tech - India. The number in bracket refers to the total funding raised by the company. Late Stage refers to Series C & beyond rounds.
Most Active Investors: PE
investments Feed*
2 WestBridge Mauritius 118 2 Nazara ($133M), Mauj Mobile ($10.0M)
3 Bellerive Finance Channel Islands 7 2 Gamezop ($5.0M), Gaussian Networks ($2.3M)
4 Maven Capital Partners United Kingdom 217 1 OneRare ($2.0M)
5 IIML India 47 1 Indiagames
6 ICICI Venture India 80 1 Games2win Media ($13.1M)
7 Legatum United Arab Emirates 9 1 MPL ($389M)
8 Roark Capital Group United States 48 1 Bullieverse ($4.0M)
9 Anchorage Capital Partners Australia 10 1 Quizy Games ($304K)
10 South Yarra Holdings India 36 1 Hashcube ($953K)
Most Active Investors: Accelerators & Incubators
investments Feed*
2 Better Capital United States 212 5 Turnip ($14.7M), SuperGaming ($6.8M), Eloelo ($2.5M)
3 CIIE India 185 4 Mech Mocha ($9.5M), Hashcube ($953K), Rolocule ($58.6K)
4 Venture Catalysts India 220 4 Rooter ($30.0M), Norah AI ($8.9M), SoStronk ($3.9M)
5 GIST Network United States 1076 3 Juego Studio, TeamSid Gaming Solutions, Happy Adda
6 T-Hub India 939 3 Gamenous, BornMonkie, FairShuffle
Bombay Play ($9.5M), Hypernova Interactive ($359K), Happy

7 Karnataka Startup Cell India 344 3
Adda
8 JioGenNext India 157 3 Roosh Interactive ($664K), Happy Adda, Tap Cube Studios
9 India Accelerator India 122 3 MGM ($152K), Blue Billion Tech, VectorInteractive Studios
10 Kstart India 20 3 WinZO ($92.7M), Deftouch ($2.2M), Tictok Games ($476K)
Contents
Overview
Funding
Investors
Acquisitions Acquisition Trends
IPOs List of Acquisitions
Companies Most Active Acquirers
Unicorns List of Acquihires
Business Models
News
Appendix
Quick Snapshot - Acquisitions
Key Stats Y-o-Y Acquisition Trends All-time Top Acquisitions
- $7.9M - $172M - Company Acq. Price
20 5.4 Yrs PlaySimple
$360M
(2014, Bangalore, $4.5M)
# Total Avg. yrs from first
Acquisitions funding to Acq. Bash Gaming
$160M
Moonfrog Labs
$115M $90.0M
$10.9M (2013, Bangalore, $16.0M)
Avg. Funding Avg. Acq. Price Junglee Games

$67.0M
raised before Acq. (2010, Delhi, $5.4M)
# of Acquisitions Avg. Acquisition Price
Dhruva
$7.9M
(1998, Bangalore)
Top Investors by # Acq. Exits Acquisitions Distribution by Acq. Price
Rummy Passion
Investor # Acq. Notable Acq. $3.8M
(2015, Chandigarh)
Loco, NODWIN
Krafton 3 7Sea Esports
Gaming, Nauti.. -
(2020, Hyderabad)
Lightspeed Venture
1 Rheo
Part.. Rolocule
-
(2010, Pune, $58.6K)
Google 1 PlaySimple
Skyesports
-
Adobe 1 Indiagames (2018, Chennai)
Rheo
SAIF Partners 1 PlaySimple -
# of Acquisitions
Back to index
List of Acquisitions (1/2)

Company Acquirer(s) Acq. Date Acq. Price
7Sea Esports Ampverse Nov 2021 NA
(2020, Hyderabad)
Rolocule Dream Sports Aug 2021 NA

(2010, Pune, $59K)
Skyesports JetSynthesys Aug 2021 NA

(2018, Chennai)
Rheo Unacademy Jul 2021 NA

PlaySimple Modern Times Group Jul 2021 $360M

GamingMonk MPL Apr 2021 NA

(2014, Delhi, $676K)
Junglee Games Flutter Entertainment Mar 2021 $67M

(2010, Delhi, $5M)
Moonfrog Labs Stillfront Feb 2021 $90M

Nautilus Mobile JetSynthesys Oct 2020 NA

(2013, Hyderabad, $5M)
FTRpoker i3 Aug 2020 NA

(2015, Gwalior)
Back to index
List of Acquisitions (2/2)

Company Acquirer(s) Acq. Date Acq. Price
Dhruva Rockstar Games May 2019 $8M
(1998, Bangalore)
Loco Pocket Aces Jun 2018 NA

(2020, Mumbai, $51M)
NODWIN Gaming Nazara Jan 2018 NA

(2012, Gurgaon, $22M)
Nextwave Multimedia Nazara Jan 2018 NA

(1995, Chennai)
Rummy Passion Stride Gaming Nov 2017 $4M

(2015, Chandigarh)
BitRhymes GSN Games Jun 2014 NA

(2010, Bangalore)
Bash Gaming GSN games Feb 2014 $160M

Backyard Game FactorRy Games2Win Jun 2013 NA

(2010, Delhi)
Indiagames UTV Group Dec 2007 NA

(2000, Mumbai)
Madhouse Media Seventymm Jun 2007 NA

(2004, Delhi)
Most Active Acquirers
Average
# Acquirer Country # Acq. Companies Acquired
Acq. Price
1 JetSynthesys Pune 2 - Nautilus Mobile, Skyesports
2 Nazara Mumbai 2 - NODWIN Gaming, Nextwave Multimedia
Modern Times
3 Stockholm 1 $360M PlaySimple ($360M)
Group
4 Stillfront Stockholm 1 $90.0M Moonfrog Labs ($90.0M)
Flutter
5 Dublin 1 $67.0M Junglee Games ($67.0M)
Entertainment
6 Ampverse Singapore 1 - 7Sea Esports
7 Dream Sports Mumbai 1 - Rolocule
8 Unacademy Bangalore 1 - Rheo
9 MPL Bangalore 1 - GamingMonk
Note: Numbers in bracket indicate the Acquisition Price of the company.
Back to index
List of Acqui-hires
Company Acquirer Acq. Date Acq. Price
Mech Mocha Flipkart Nov 2020 NA
ShowTime Pocket Aces Jan 2018 NA

(2017, Bangalore)
Mizcoin aspiringminds.i
Aug 2015 NA
(2014, Noida) n
Contents
Overview
Funding
Investors
Acquisitions
IPOs List of IPOs
Companies
Unicorns
Business Models
News
Appendix
Back to index
List of IPOs
Company Investors IPO Date IPO Mcap
Nazara Plutus Wealth Managem.., +32 more Mar 2021 $461M
(2000, Mumbai, $128M)
7Seas Entertainment Aug 2018 -

(2005, Hyderabad)
Smaaash Entertainment FidelisWorld, CB Insigh.., +16 more Aug 2018 -

(2012, Mumbai, $120M)
Juhong International Aug 2018 -

(2007, Mumbai)
Contents
Overview
Funding
Investors
Acquisitions
IPOs
Companies Top Companies
Unicorns Early Stage Editor’s Pick
Business Models Companies by Team Background - College wise
News Companies by Team Background - Company wise
Appendix Funded Deadpooled Companies
Top Companies
Company Tracxn Score Company Tracxn Score Company Tracxn Score
MPL 77.2 JetSynthesys 65.6 99Games 55.2
(2018, Bangalore, $389M) (2012, Pune, $91.7M) (2008, Udupi, $11.2M)
Nazara 76.7 SuperGaming 63.1 Octro 54.6

(2000, Mumbai, $133M) (2017, Pune, $6.8M) (2006, Noida, $15.0M)
Games2win Media 72.6 NODWIN Gaming 62.9 Gamezop 53.8

(2005, Mumbai, $13.1M) (2012, Gurgaon, $22.4M) (2015, Delhi, $5.0M)
Loco 71.4 Turnip 62.1 GreedyGame Media 53.3

(2020, Mumbai, $51.0M) (2020, Bangalore, $14.7M) (2013, Bangalore, $1.1M)
Games24x7 70.9 Bombay Play 61.8 Zupee 52.6

(2006, Mumbai, $107M) (2018, Bangalore, $9.5M) (2017, Delhi, $121M)
Moonfrog Labs 70.3 GetMega 60.0 Smaaash Entertainm.. 52.0

(2013, Bangalore, $16.0M) (2018, Bangalore, $9.0M) (2012, Mumbai, $61.2M)
PlaySimple 69.9 HitWicket 58.8 EsportsXO 51.4

(2014, Bangalore, $4.5M) (2012, Hyderabad, $417K) (2020, Bangalore, $1.1M)
WinZO 69.2 GameEon 56.9 Mauj Mobile 51.0

(2016, Delhi, $92.7M) (2013, Mumbai, $520K) (2006, Mumbai, $10.0M)
Rooter 66.8 Nautilus Mobile 56.0 Gametion 49.6

(2016, Delhi, $30.0M) (2013, Hyderabad, $5.4M) (2008, Mumbai)
Junglee Games 65.9 Zapak 55.7 IndiGG 48.9

(2010, Delhi, $5.4M) (2006, Mumbai, $15.0M) (2021, $6.0M)
View all 1,215 companies on Tracxn Platform
Note: Tracxn Score is a proprietary score based on various market signals reflecting the company’s size, execution and growth.
Early Stage Editor’s Pick (1/2)
Company Tracxn Score Company Tracxn Score Company Tracxn Score
Bombay Play 61.8 Eloelo 41.6 Bakbuck 29.4
(2018, Bangalore, $9.5M) (2020, Bangalore, $2.5M) (2018, Mumbai, $140K)
GetMega 60.0 Microgravity 41.0 SALT 27.5

(2018, Bangalore, $9.0M) (2019, Gurgaon, $1.2M) (2017, Noida)
EsportsXO 51.4 iB Cricket 40.0 LootMogul 25.8

(2020, Bangalore, $1.1M) (2017, Bangalore) (2020, Mumbai)
EWar 48.5 Koco Games 37.1 Awon Gamez 25.5

(2019, Bangalore, $771K) (2018, Kochi) (2020, Noida, $2.0M)
Gamerji 45.1 Crazyplex 36.7 Khiladi Adda 22.7

(2018, Ahmedabad, $1.7M) (2017, Ahmedabad) (2019, Delhi, $4.2K)
Gameskraft 44.9 CYMPL 36.2 Roz Dhan 21.2

(2017, Bangalore, $242K) (2019, Pune) (2018, Pune)
Dangal Games 44.5 ZLevelApps 34.1 Gamepind 19.8

(2017, Delhi, $1.4M) (2017, Bangalore) (2018, Noida)
Totality Corp 44.2 MTS 31.9 WorldTeam11 17.5

(2017, Gurgaon, $1.8M) (2018, Hyderabad) (2018, Pune)
Revenant Esports 43.3 All Star Games 31.7 Phoniex Games Team 8.5
(2020, Mumbai, $1.0M) (2021, Mumbai) (2020, Surat)
Tournafest 43.2 Sportvot 31.3 GamingAkhada 8.5

(2020, Jaipur, $410K) (2019, Mumbai, $35.1K) (2019, Kanpur)
Early Stage Editor’s Pick (2/2)
Company Tracxn Score
Games Moon Studios 8.0
(2020, Hyderabad)
Game Break Studios 8.0

(2020)
GameNation 8.0
(2017, Chennai)
Pacific Gaming 8.0

(2017, Bangalore)
Companies by Geography
Distribution by Cities - Companies founded
Total Companies Notable Companies
Bangalore 158 MPL ($389M), Moonfrog Labs ($16.0M), Turnip ($14.7M)
Mumbai Nazara ($133M), Games24x7 ($107M), Smaaash

145
Entertainment ($61.2M)
Delhi 112 Zupee ($121M), WinZO ($92.7M), Rooter ($30.0M)
Hyderabad 85 Nautilus Mobile ($5.4M), Empower Labs ($1.9M), HitWicket

($417K)
Pune 52 JetSynthesys ($91.7M), SuperGaming ($6.8M), Rolocule ($58.6K)
NODWIN Gaming ($22.4M), Totality Corp ($1.8M),

Gurgaon 44
Microgravity ($1.2M)
Noida 43 Octro ($15.0M), Awon Gamez ($2.0M), FanGame Live ($1.5M)
Kolkata 29 Gaussian Networks ($2.3M), ,
Companies by Team Background - College wise
IIT Delhi Gaussian Netwo.. Totality Corp Bash Gaming

$2.3M $1.8M $1.0M
IIT Bombay PlaySimple Tamasha PLAKC

$4.5M $3.3M $789K
IIM Calcutta WinZO PLAKC Tictok Games

$92.7M $789K $476K
IIT Kharagpur Moonfrog Labs Bombay Play FanClash

$16.0M $9.5M $1.0M
IIT Kanpur MPL Zupee GetMega

$389M $121M $9.0M
BITS Pilani MPL Norah AI Dastan games

$389M $8.9M -
IIM Ahmedabad FanClash Studio Sirah SportsQwizz

$1.0M $830K -
PlaySimple Tournafest GameXS

IIT Roorkee
$4.5M $410K $90.8K
Companies by Team Background - Company wise
Microsoft Moonfrog Labs KHEL GULLY Moong Labs

$16.0M $750K -
Amazon HitWicket Makkajai HueSphere

$417K $357K -
Bain WinZO Gamezop ReInGames

$92.7M $5.0M $703K
GreedyGame
Google Moonfrog Labs Crispy Games
$16.0M
Media $40.0K
$1.1M
Facebook EsportsXO Frowli

$1.1M -
Morgan Stanley Makkajai Dastan games

$357K -
GreedyGame
Paypal Turnip
$14.7M
Media
$1.1M
Esportsvilla
Cisco
-
Funded Deadpooled Companies
Company $ Funding Company $ Funding
Norah AI $8.9M Playzio -
(2015, Bangalore) (2011, Hyderabad)
PLAKC $789K
(2014, Mumbai)
Flixy Games $425K

(2015, Bangalore)
Paracosmic Innovation .. $63.6K

(2018, Delhi)
BlackBambooz Studio $19.9K

(2012, Bangalore)
The Zero Games -

(2014, Mumbai)
Gamenous -
(2014, Hyderabad)
Khel Minto Ka -
(2014, Mumbai)
FairShuffle -
(2014, Hyderabad)
Spice Labs -
(2009, Noida)
Contents
Overview
Funding
Investors
Acquisitions
IPOs Unicorn Trends
Companies List of Unicorns
Unicorns Investors in Unicorns by Stage of Entry
Business Models Top Unicorn Investors by Stage of Entry
News Soonicorn Club - List of Soonicorns
Appendix Soonicorn Club - List of Minicorns
Unicorn Trends
Gaming Te..
2 2.9 $136M 6 14.5
# Total Unicorns Avg Years from Series A Avg $ Funding before Avg # Funding Rounds Avg Institutional Investors
to Unicorn Round Unicorn Round before Unicorn Round before Unicorn Round
Global
1067 4.4 $168M 4.4 7.6
# Total Unicorns Avg Years from Series A Avg $ Funding before Avg # Funding Rounds Avg Institutional Investors
to Unicorn Round Unicorn Round before Unicorn Round before Unicorn Round
Top Seed Stage Investors Top Early Stage Investors Top Late Stage Investors Top Cities
Tiger Global Management Beenext Base Partners Mumbai (1)
Raine Group GV Bangalore (1)
Sequoia Capital RTP Ventures
Times Internet SIG
Venture Highway Founders Circle Capital

+ 7 more + 29 more
Note: Investors refers to Institutional Investors only. Top Investors are calculated based on investments before the Unicorn Round.
List of Unicorns
Unicorn Time from Series
Company Short Description $ Funding2 # Rounds2 # Investors2
Event Date A (yrs)1
Games24x7
Developer of casual video games Mar 2022 2.4 $32M 6 3
(2006, Mumbai, $107M)
MPL
Online esports and skill gaming platform Sep 2021 3.3 $239M 6 26
1 - Time taken from First funding to the Unicorn Event Date. 2 - Before Unicorn Round
Back to List
Games24x7
Developer of casual video games
374
Twitter Followers
30.0M
Mobile Downloads
2006 Mumbai $107M $203M NA NA 46

Founded City Funding Annual Revenue Employee Count App Rating News Mentions
Founding Team Top Competitors

Bhavin Pandya Trivikraman Thampy
Co-Founder & CEO Co-Founder & CEO
Ex-General Electric Healthcare. Purdue IIT BTech Bombay 1999, IGIDR MPhil 2001, DraftKings Dream11 FanDuel
University BS 2002, New York Un.. New York University PhD 2008 (2012, Boston, $719M) (2008, Mumbai, $785M) (2009, New York City, $416M)
MPL PlayStudios Huuuge Games

(2018, Bangalore, $389M) (2011, Burlingame, $36M) (2014, Warsaw, $9M)
View all 1487 Competitors
Funding Rounds Key News

Mar 2022 $75M Series C Malabar Investments +2 more • Mar 2022 - India’s Games24x7 valued at $2.5 billion in new funding
TechCrunch
Jun 2021 $18M Series B Raine Group +1 more
• Jan 2022 - Games24X7 to push Rummy in north India to augment revenue
Oct 2019 $9M Series A Raine Group Livemint
Sep 2018 $3K Angel • Dec 2021 - Games24x7 Appoints Neha Singhvi As Director Reputation &
Communication Adgully
Mar 2018 $1K Angel
• Dec 2021 - Games24x7 announces appointment of Rajat Bansal as Chief
Feb 2012 $3M Seed Tiger Global Management Technology Officer Adgully
View all 7 Funding Rounds View all Key News
Back to List
MPL
Online esports and skill gaming platform
49.8K
Twitter Followers
NA
Mobile Downloads
2018 Bangalore $389M $39.8M 543 NA 220

Founded City Funding Annual Revenue Employee Count App Rating News Mentions
Founding Team Top Competitors

Sai Srinivas Kiran Garimella Shubham Malhotra
Co-Founder & CEO Co-Founder
Ex-CREO Tech, Base9, Hike Messenger, Ex- Co-Founder CREO, Teewe, Capillary DraftKings Skillz Dream11
Zynga. IIT Kanpur BTech 2010 Technologies, Hike Messenger. BI.. (2012, Boston, $719M) (2012, San Francisco, $213M) (2008, Mumbai, $785M)
Galina Chifina
Executive Director
ruNet, Ex-ITC. Bauman Moscow State FanDuel Games24x7 WinZO
Technical University 2007 (2009, New York City, $416M) (2006, Mumbai, $107M) (2016, Delhi, $93M)
View all 890 Competitors
Funding Rounds Key News

Sep 2021 $150M Series E Legatum, Crown Capital +18 more • Mar 2022 - MPL launches the Great Indian Gaming League Adgully
Feb 2021 $98M Series D GV, CMPL Ventures +11 more • Mar 2022 - Gaming Unicorn MPL Nears INR 500 Cr In Revenue, FY21 Losses
Down By 56% Inc42
Jan 2021 $500K Series D
• Jan 2022 - MPL net loss narrows in FY21 as revenue surges multifold VCCircle
Sep 2020 $90M Series C Pegasus Tech Ventures +11 more
• Oct 2021 - MPL partners with Voodoo to launch popular gaming titles Helix
Feb 2019 $10M Series A Brand Capital, Cornerstone Jump & Color Road Adgully
Jan 2019 $36M Series A Go Venture, Times Inte.. +6 more
View all 7 Funding Rounds View all Key News
Investors in Unicorns by Stage of Entry
Company Seed Stage Early Stage Late Stage
Games24x7
Tiger Global Management Raine Group, Arthur L Burns Irrevocable Trust
(2006, Mumbai, $107M)
MPL Brand Capital, Cornerstone, Go Venture, Times Telstra Ventures, Base Partners, Founders Circle
VGames, Luminaire Capital
(2018, Bangalore, $389M) Internet, Sequo.., +6 more Capital, +13 more
Note: “Investors” includes only those Institutional Investors who have invested before the Unicorn Round.
Top Unicorn Investors by Stage of Entry
# Unicorn
Investor Seed Stage Early Stage Late Stage Others*
Portfolio
GV 1 - - MPL -
Sequoia Capital 1 - MPL - -
Kotak Mahindra
1 - - MPL -
Bank
Founders Circle
1 - - MPL -
Capital
Telstra Ventures 1 - - MPL -
Times Internet 1 - MPL - -
Brand Capital 1 - MPL - -
RTP Ventures 1 - MPL - -
Pegasus Tech
1 - - MPL -
Ventures
Note: “Investors” includes only Institutional Investors who have invested before the Unicorn Round. Others*: Includes investors who have invested in Non Equity rounds or Undisclosed Rounds
Soonicorn Club - List of Soonicorns
WinZO 69.2
(2016, Delhi, $92.7M)
JetSynthesys 65.6
(2012, Pune, $91.7M)
Octro 54.6
(2006, Noida, $15.0M)
Zupee 52.6
(2017, Delhi, $121M)
Note: A Soonicorn is a company which is likely to achieve US $1 billion valuation in the short to medium term. Tracxn Score is a proprietary score based on various market signals reflecting the company’s size, execution and growth.
Soonicorn Club - List of Minicorns
Games2win Media 72.6
(2005, Mumbai, $13.1M)
Rooter 66.8
(2016, Delhi, $30.0M)
SuperGaming 63.1
(2017, Pune, $6.8M)
Turnip 62.1
99Games 55.2
(2008, Udupi, $11.2M)
Gamezop 53.8
(2015, Delhi, $5.0M)
IndiGG 48.9
(2021, $6.0M)
nCORE Games 41.0

Bullieverse 40.9
Note: A Minicorn is a company which is likely to achieve US $1 billion valuation in the medium to long term. Tracxn Score is a proprietary score based on various market signals reflecting the company’s size, execution and growth.
Contents
Overview
Funding
Investors
Acquisitions
IPOs
Companies
Unicorns
Business Models Marketmap
News Top Funded Business Models
Appendix Taxonomy
Marketmap: HR Tech Sep 2020
Marketmap - Gaming Tech - India
GAME DEVELOPERS GAMING PLATFORMS Factsheet
MOBILE GAMES MOBILE GAMES Overview
Companies 1215
Funded 142 Series A+ 26
Funding $1.3B Last 2 yrs $891M
PC & CONSOLE GAMES ESPORTS
Most Active Investors
VC - Seed Lumikai (5)
VC - Early Sequoia Capita.. (7)
VC - Late Founders Circl.. (1)
GAMING ARCADES GAME PUBLISHERS PE

Incubators Better Capital (5)
Exits
IPOs 4 Nazara, 7Seas E..
Acquisitions 20 7Sea Esports, R..
Top Acquirers jetsynthesys.co..
ESPORTS LEAGUE ORGANIZERS ESPORTS BROADCASTERS Feed in Numbers

Unicorns 2 Soonicorns 4
Minicorns 9 Editor Picks 90
Acquihired 3 Deadpooled 174
Top Companies
MPL (2018, Bangalore, $389M)
TECHNOLOGY ENABLERS Nazara (2000, Mumbai, $133M)
Games2win Media (2005, Mumbai, $13.1M)
Top Cities
Bangalore 158 Cos $508M
Mumbai 145 Cos $402M
*Upcoming Business Model

Top Funded Business Models - last 1 year
Rank Business Model $ Funding # Rounds Top Funding Round Details
MPL (2018, Bangalore)
1 <> 0 Real Money eSports Gaming Platforms $155M 11
$150M - Series E
Link
Zupee (2017, Delhi)

2 <> 0 Mobile Gaming Platforms $104M 4
$72.0M - Series B
Link
Games24x7 (2006, Mumbai)

3 -- Online Casino Game Developers $93.1M 2
$75.0M - Series C
Link
Games24x7 (2006, Mumbai)

4 -- Mobile Casino Game Developers $93.1M 2
$75.0M - Series C
Link
Loco (2020, Mumbai)

5 ▲2 eSports Live Streaming Platforms $76.0M 3
$42.0M - Series A
Link
Rooter (2016, Delhi)

6 <> 0 Game Streaming Management Solutions $38.1M 3
$25.0M - Series A
Link
LILA Games (2020, Bangalore)

7 ▲1 Mobile Core Game Developers $10.0M 1
$10.0M - Series A
Link
nCORE Games (2018, Bangalore)

8 ▼3 Mobile Game Publishers $10.0M 1
$10.0M - Series A
Link
Bombay Play (2018, Bangalore)

9 <> 0 Mobile Social Game Developers $7.0M 1
$7.0M - Series A
Link
SuperGaming (2017, Pune)

10 <> 0 Mobile Casual Game Developers $6.1M 7
$5.5M - Series A
Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.
Back to index
Real Money eSports Gaming Platforms - $155M (▼43.8%)

01 India $ Invested in last 1 year
MPL WinZO GetMega 11 ( <> 0% )

(2018, Bangalore, $389M) (2016, Delhi, $92.7M) (2018, Bangalore, $9.0M) # Funding Rounds in last 1 year
Key Stats Recent Funding Rounds Taxonomy
MPL (2018, Bangalore) eSports (Nazara)

123 20 $150M - Series E - Sep 2021 (# Cos: 282 | $751M)
Companies Funded Companies Tamasha (2020, Mumbai) eSports Platforms (GetMega)

$3.0M - Seed - Oct 2021 (# Cos: 206 | $511M)
Eloelo (2020, Bangalore)
Competitive Gaming (WinZO)
$506M 2 $2.1M - Seed - Jul 2021
(# Cos: 193 | $510M)
Total $ Invested Soonicorn Club Awon Gamez (2020, Noida)
$2.0M - Seed - Sep 2021 Real Money Gaming (MPL)
(# Cos: 123 | $506M)
FanGame Live (2020, Noida)
$1.2M - Seed - Aug 2021
- 1 Gamerji (2018, Ahmedabad)
IPOs Acquisitions
$1.1M - Seed - Mar 2022
KHEL GULLY (2021, Bangalore)
$750K - Seed - Jan 2022
View all 11 Funding Rounds on Tracxn Platform
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Back to index
$104M (▲7.5%)
02 Mobile Gaming Platforms - India $ Invested in last 1 year
WinZO JetSynthesys Zapak 4 (▼55.6%)

(2016, Delhi, $92.7M) (2012, Pune, $91.7M) (2006, Mumbai, $15.0M) # Funding Rounds in last 1 year
Zupee (2017, Delhi) Mobile Gaming (Nazara)

74 9 $72.0M - Series B - Jan 2022 (# Cos: 714 | $711M)
Companies Funded Companies Zupee (2017, Delhi) Gaming Platforms (WinZO)

$30.0M - Series B - Aug 2021 (# Cos: 74 | $338M)
JetSynthesys (2012, Pune)
$338M 4 $2.0M - Angel - Jul 2021
Total $ Invested Soonicorn Club Totality Corp (2017, Gurgaon)
$1.8M - Seed - Oct 2021
- -
IPOs Acquisitions
Back to index
$93.1M ( -- )
03 Online Casino Game Developers - India $ Invested in last 1 year
Games24x7 Gameskraft Bash Gaming 2 ( -- )

(2006, Mumbai, $107M) (2017, Bangalore, $242K) (2010, Bangalore, $1.0M) # Funding Rounds in last 1 year
Games24x7 (2006, Mumbai) PC & Console Gaming (WinZO)

10 4 $75.0M - Series C - Mar 2022 (# Cos: 158 | $231M)
Companies Funded Companies Games24x7 (2006, Mumbai) Game Developers (GameEon)

$18.1M - Series B - Jun 2021 (# Cos: 94 | $110M)
Web Games (Bash Gaming)

$109M 1 (# Cos: 31 | $109M)
Total $ Invested Soonicorn Club Casual Games (Gameskraft)

(# Cos: 31 | $109M)
Casino Games (Games24x7)

(# Cos: 10 | $109M)
- 1
IPOs Acquisitions
Back to index
$93.1M ( -- )
04 Mobile Casino Game Developers - India $ Invested in last 1 year
Games24x7 Mywavia Studios Gameskraft 2 ( -- )

(2006, Mumbai, $107M) (2011, Bangalore) (2017, Bangalore, $242K) # Funding Rounds in last 1 year
Games24x7 (2006, Mumbai) Mobile Gaming (Nazara)

38 7 $75.0M - Series C - Mar 2022 (# Cos: 714 | $711M)
Companies Funded Companies Games24x7 (2006, Mumbai) Game Developers (PlaySimple)

$18.1M - Series B - Jun 2021 (# Cos: 618 | $217M)
Casual (Moonfrog Labs)

$110M 1 (# Cos: 554 | $194M)
Total $ Invested Soonicorn Club
Casino (Games24x7)
(# Cos: 38 | $110M)
- 3
IPOs Acquisitions
Back to index
$76.0M (▲2126%)
05 eSports Live Streaming Platforms - India $ Invested in last 1 year
Loco Rooter Rheo 3 (▲50%)

(2020, Mumbai, $51.0M) (2016, Delhi, $30.0M) (2019, Bangalore, $2.0M) # Funding Rounds in last 1 year
Loco (2020, Mumbai) eSports (MPL)

12 5 $42.0M - Series A - Mar 2022 (# Cos: 282 | $751M)
Companies Funded Companies Rooter (2016, Delhi) Broadcasters (Rooter)

$25.0M - Series A - Jan 2022 (# Cos: 12 | $83.0M)
Loco (2020, Mumbai)
Live Streaming (Loco)
$83.0M 1 $9.0M - Seed - Jun 2021
(# Cos: 12 | $83.0M)
1 2
IPOs Acquisitions
Back to index
Game Streaming Management Solutions $38.1M (▲654%)

06 - India $ Invested in last 1 year
Rooter Turnip Rheo 3 ( <> 0% )

(2016, Delhi, $30.0M) (2020, Bangalore, $14.7M) (2019, Bangalore, $2.0M) # Funding Rounds in last 1 year
Rooter (2016, Delhi) Gaming Tech (Games2win Media)

5 3 $25.0M - Series A - Jan 2022 (# Cos: 152 | $141M)
Companies Funded Companies Turnip (2020, Bangalore) Gamers Tools (Turnip)

$12.5M - Series A - Dec 2021 (# Cos: 15 | $46.7M)
Turnip (2020, Bangalore)
Streaming Management (Rooter)
$46.7M 2 $597K - Seed - Aug 2021
(# Cos: 5 | $46.7M)
- 1
IPOs Acquisitions
Back to index
$10.0M (▲257%)
07 Mobile Core Game Developers - India $ Invested in last 1 year
LILA Games ThreyeInc Hypernova Interactive 1 (▼50%)

(2020, Bangalore, $12.8M) (2012, Delhi, $4.4K) (2015, Bangalore, $359K) # Funding Rounds in last 1 year
LILA Games (2020, Bangalore) Mobile Gaming (Nazara)

15 4 $10.0M - Series A - Mar 2022 (# Cos: 714 | $711M)
Companies Funded Companies

Game Developers (Games24x7)
(# Cos: 618 | $217M)
Core (LILA Games)

$13.2M 0 (# Cos: 15 | $13.2M)
- -
IPOs Acquisitions
Back to index
$10.0M (▼27%)
08 Mobile Game Publishers - India $ Invested in last 1 year
Nazara Games2win Media Witzeal Technologies 1 ( <> 0% )

(2000, Mumbai, $133M) (2005, Mumbai, $13.1M) (2016, Gurgaon) # Funding Rounds in last 1 year
nCORE Games (2018, Bangalore) Mobile Gaming (Games2win Media)

20 5 $10.0M - Series A - Jan 2022 (# Cos: 714 | $711M)

Game Publishers (Nazara)
(# Cos: 20 | $156M)
$156M 2
1 -
IPOs Acquisitions
Back to index
$7.0M (▲180%)
09 Mobile Social Game Developers - India $ Invested in last 1 year
Bombay Play Hashcube Bakbuck 1 (▼50%)

(2018, Bangalore, $9.5M) (2008, Bangalore, $953K) (2018, Mumbai, $140K) # Funding Rounds in last 1 year
Bombay Play (2018, Bangalore) Mobile Gaming (Nazara)

14 6 $7.0M - Series A - Apr 2022 (# Cos: 714 | $711M)

Game Developers (Moonfrog Labs)
(# Cos: 618 | $217M)
Casual (Games24x7)
$11.3M 0 (# Cos: 554 | $194M)
Social (Bombay Play)
(# Cos: 14 | $11.3M)
- 1
IPOs Acquisitions
Back to index
$6.1M (▲244%)
10 Mobile Casual Game Developers - India $ Invested in last 1 year
Moonfrog Labs PlaySimple Junglee Games 7 (▲250%)

(2013, Bangalore, $16.0M) (2014, Bangalore, $4.5M) (2010, Delhi, $5.4M) # Funding Rounds in last 1 year
SuperGaming (2017, Pune) Mobile Gaming (Nazara)

436 32 $5.5M - Series A - Aug 2021 (# Cos: 714 | $711M)
Companies Funded Companies GameEon (2013, Mumbai) Game Developers (PlaySimple)

$320K - Seed - Sep 2021 (# Cos: 618 | $217M)
GameEon (2013, Mumbai)
Casual (Games24x7)
$71.9M 3 $200K - Seed - Jan 2022
(# Cos: 554 | $194M)
Total $ Invested Soonicorn Club GoLive Games (2008, Hyderabad)
$122K - Seed - Jul 2021 Multi Genre (Moonfrog Labs)
(# Cos: 436 | $71.9M)
Blue Billion Tech (2016, Kolkata)
Undisclosed - Seed - Aug 2021
1 7 Oneiric (2020, Mohali)
IPOs Acquisitions
Undisclosed - Angel - Dec 2021
Atirath (2015, Secunderabad)
Undisclosed - Seed - Feb 2022
Taxonomy
# Cos # Funded $ Funding
Taxonomy Total Funding Notable Companies
Tracked Cos. (Last 2y)
Mobile Gaming 714 74 $711M $402M (▲415%) Nazara, Games2win Media
Gaming Tech 152 25 $141M $51.6M (▲272%) Games2win Media, Rooter
PC and Console Gaming 158 22 $231M $188M (▲1137%) Games24x7, WinZO
eSports 282 38 $751M $558M (▲577%) MPL, Nazara
View full Taxonomy on Tracxn Platform
Contents
Overview
Funding
Investors
Acquisitions
IPOs
Companies
Unicorns
Business Models
News Recent Key News
Appendix
Recent Key News (1/3)
Transactions Company Updates
● NextPlay Technologies Acquires Assets and IP of Casual Game Publisher, ● Penta Esports announces launch of tournament Adgully
goGame, to Integrate its .. ACN Newswire
● SuperGaming opens second office in Pune Pocket Gamer
● Nazara announces acquisition of 35% stake in Brandscale Innovations
Business Standard ● Indian startups raised $8.4 bn in Q1, 2022; India ranks 4th globally with
96 unicorns Business Today
● Nazara acquires stake in Brandscale and Wings to accelerate its D2C
approach YourStory Media ● Dharma Media Consultants bags PR Mandate for EsportsXO Adgully
● Nazara Tech-led NODWIN Gaming invests in gaming accessories brand ● MPL launches the Great Indian Gaming League Adgully
Wings India Infoline ● JetSynthesys aims to be the Indian version of Google from US and
● Glip Raises $3M Pre-Series A, Onboards 1M Gamers in 3 Months Tencents from China BestMediaInfo
IndianWeb2
● Eloelo crosses 3 Million users on the App, Launches LIVE Dumbcharades
● Nazara Invests In US Based Gaming Fund BITKRAFT Ventures Enablers Game BusinessFortNight
● Crypto gamification platform OWN secures $2M in seed round YourStory ● Rooter obtains media rights for Skyesports Esports Insider
Media
● JetSynthesys unveils new brand identity BestMediaInfo
● India's Games24x7 raises $75m, becomes unicorn Asian Venture Capital
Journal ● Rakesh Jhunjhunwala-Backed Nazara Technologies Shares Swing After
B&K Securities Initiates Cov.. BloombergQuint
● India’s Bombay Play raises $7M for instant mobile games VentureBeat
● Mobile Premier Leagues in Talks to Receive Funding From FTX TechStory
Legal Partnerships
● AIGF, Gaming Startups File Writ Petition Challenging Karnataka’s Online ● Orangutan gaming signs rooter as their official streaming partner Adgully
Gaming Ban Inc42
● OneRare and Honeybee Burger Partner to Bring Plant-Based Food to the
● Amazon’s Biggest Acquisitions Have Allowed It To Become A Marketplace Metaverse thespoon.tech
For Nearly Everything Forbes
● Rooter partners with Polygon & YGG backed gaming guild – IndiGG
BusinessFortNight
● Gameloft and Nodwin Gaming to launch mobile esports events in India

Pocket Gamer
● Riot Games, NODWIN Gaming team & Post Office Studios to animate
music video for VCC-2022 an.. BusinessFortNight
● Gillette teams up with 7Sea to launch $20,000 BGMI tournament Esports
Insider
● LootMogul expands its strategic partners and ambassadors group

Investing News
● Vodafone Idea releases Vi Games with Nazara Technologies Telecompaper
● FTX Gaming Partners With YGG’s India Unit IndiGG For Web3 And Crypto
Gaming Inc42
● OR Esports names Rooter as exclusive broadcast partner Esports Insider
People Movement Other
● Lemma Appoints InMobi’s Swapnil Sambhus as Country Head, Indonesia ● Gaming Unicorn MPL Nears INR 500 Cr In Revenue, FY21 Losses Down By
MarTech Series 56% Inc42
● Witzeal appoints Naveen Goswami as head of innovation Adgully ● Nazara Technologies reports 17% fall in net profit in Dec quarter Business
Today
● Smaaash Entertainment Pvt Ltd. Appoints Shirish Kotmire as CEO Adgully
● Games24X7 to push Rummy in north India to augment revenue Livemint
● JetSynthesys Appoints Sharan Tulsiani & Yash Baid to the Company’s
Gaming Investment Arm NCNOnline ● MPL net loss narrows in FY21 as revenue surges multifold VCCircle
● WazirX’s Siddharth Menon is advisor at SuperGaming for crypto gaming ● Nazara reports H1 2021 revenue growth of 30%, reaching $35 million
Entrackr Pocket Gamer
● Ex Tata Group & Udaan's Nitin Nahata joins Gameskraft as Chief Human ● Nazara Technologies Promising Investment Bet Moneycontrol
Resource Officer People Matters
● Nazara Technologies Posts Rs 13.6-crore Net Profit For June Quarter
● Former Publicis Groupe's Rajwanshi joins Penta Esports as chief creative Journey Line
office Livemint ● Nazara delivers 84% revenue growth, 508% EBIDTA growth YoY in FY2021
● Games24x7 Appoints Neha Singhvi As Director Reputation & Adgully
Communication Adgully ● Nazara Banks On Online Learning, Freemium Games After INR 454 Cr
● Games24x7 announces appointment of Rajat Bansal as Chief Technology Revenue In FY21 Inc42
Officer Adgully ● At $131 million, funding for Indian online gaming platforms at 6-year
● Nazara's Vamsi Talasila joins RESET TECH as Co-founder & CTO Adgully high in 2020 - The Hindu .. Business Line
Contents
Overview
Funding
Investors
IPOs
Acquisitions
Companies
Unicorns
Business Models
News
Appendix
Vendor Discovery
# Vendor Name Country # Customers Customers
1 EsportsXO India 4 WinZO ($92.7M), Loco ($51.0M), Rooter ($30.0M), GetMega ($9.0M)
2 INKA Entworks South Korea 4 MPL ($389M), Nazara ($133M), WinZO ($92.7M), Junglee Games ($5.4M)
3 WanderMind Labs India 4 Zapak ($15.0M), Games2win Media ($13.1M), Underdogs Gaming, Apar Games
4 ConversionX India 3 Adda52, Rummy Passion, PokerBaazi
5 JSQUAD India 2 Mech Mocha ($9.5M), Indiawyn
6 Trinity Gaming India 2 MPL ($389M), Loco ($51.0M)
7 Yellow Mars Media Singapore 2 MPL ($389M), Nazara ($133M)
8 AceCademy India 1 Games24x7 ($107M)
9 Adfluence Hub India 1 PokerBaazi
10 Constellation Blu India 1 Mech Mocha ($9.5M)
Note: Numbers in bracket indicate the total funding of the company.
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Gaming Tech - India - Tracxn Feed Report - 27 Apr 2022

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Gaming Tech - India - Tracxn Feed Report - 27 Apr 2022

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TRACXN FEED GEO REPORT

GAMING TECH - INDIA

APRIL 27, 2022

Games2win Media PlaySimple

Scope of Feed Top Cities by Companies

Unfunded Companies Funded Companies

Top Funding Rounds in last 2y Top Investors Top Exits

Online Casino Game

Mobile Casino Game

eSports Live Streaming

ESPORTS LEAGUE ORGANIZERS ESPORTS BROADCASTERS Game Streaming Management

Mobile Core Game Developers $10.0M

Mobile Game Publishers $10.0M

Mobile Casual Game

*Upcoming Business Model

Funded 142 100% 12% -

Series A+ 26 18% 18% 2.5

Series B+ 10 7% 38% 4.2

Series C+ 5 4% 50% 8.2

Series D+ 1 1% 20% 2.7

# Rounds Top Funded Companies

Bangalore 78 MPL ($389M), Moonfrog Labs ($16.0M), Turnip ($14.7M)

Mumbai 59 Nazara ($133M), Games24x7 ($107M), Smaaash Entertainment ($61.2M)

Delhi 53 Zupee ($121M), WinZO ($92.7M), Rooter ($30.0M)

Pune 17 JetSynthesys ($91.7M), SuperGaming ($6.8M), Rolocule ($58.6K)

Gurgaon 8 NODWIN Gaming ($22.4M), Totality Corp ($1.8M), Microgravity ($1.2M)

Noida 8 Octro ($15.0M), Awon Gamez ($2.0M), FanGame Live ($1.5M)

Udupi 4 99Games ($11.2M), ,

Hyderabad 9 Nautilus Mobile ($5.4M), Empower Labs ($1.9M), HitWicket ($417K)

$126M $38.1M $99.2M $205M $464M $259M 23 26 30 28 43 17

Late Stage $90.0M

2017 2018 2019 2020 2021 2022 YTD

IIT Kanpur MPL Zupee GetMega

BITS Pilani MPL Norah AI Dastan games

IIM Calcutta WinZO PLAKC Tictok Games

University of Loco SYNQUA

Wharton School Loco

IIT Kharagpur Moonfrog Labs Bombay Play FanClash

INSEAD Moonfrog Labs ReInGames Gamesbond

University of Games2win Media

Bain WinZO Gamezop ReInGames

Goldman Sachs Loco

Microsoft Moonfrog Labs KHEL GULLY Moong Labs

Facebook EsportsXO Frowli

HitWicket Makkajai HueSphere

Seed Stage Lumikai 5 ( -- )

First Cheque 4 (▲300%)

Early Stage WestCap 3 (▲200%)

Late Stage RTP Ventures 3 ( -- )

First-time Investors Existing Investors

2 Lumikai India 6 5 Loco ($51.0M), Bombay Play ($9.5M), Eloelo ($2.5M)

3 Play Ventures Singapore 65 4 MPL ($389M), IndiGG ($6.0M), Deftouch ($2.2M)

5 First Cheque India 60 4 Tamasha ($3.3M), Chirrup ($605K), Tournafest ($410K)

8 Lead Angels India 43 3 Gamerji ($1.7M), GameXS ($90.8K), PlayX ($35.5K)

10 Icebreaker India 48 3 Tamasha ($3.3M), Global eSports ($563K), GameEon ($520K)

4 Elevation India 149 3 Turnip ($14.7M), IndiGG ($6.0M), PlaySimple ($4.5M)

7 Accel United States 950 2 Mech Mocha ($9.5M), GetMega ($9.0M)

9 MK Venture Capital Germany 156 2 LILA Games ($12.8M), Gamezop ($5.0M)

2 Founders Circle Capital United States 69 1 MPL ($389M)

3 GIC Singapore 227 1 Nazara ($133M)

4 Octahedron Capital United States 6 1 MPL ($389M)

5 Tomales Bay Capital United States 4 1 Zupee ($121M)

6 CE Venture Capital Canada 4 1 MPL ($389M)

2 WestBridge Mauritius 118 2 Nazara ($133M), Mauj Mobile ($10.0M)