Krafton’s Strategic Expansion into India‘s Vibrant Startup Ecosystem
A Diversified Approach: Krafton Goes Beyond Gaming
South Korean gaming giant Krafton, renowned for its popular battle royale game BGMI, is making waves in the Indian market with a strategic investment in IMM Investment’s maiden India fund. This move marks Krafton’s third venture capital backing in India, following previous investments in 3one4 Capital and Lumikai. Krafton has already committed over $170 million to India and plans to inject another $150 million, demonstrating its unwavering belief in the region’s immense growth potential.
Nihansh Bhat, Lead of Corporate Development for Krafton India, emphasizes that this investment in IMM Investment’s fund will enable Krafton to explore new business avenues and sectors beyond gaming. This strategic diversification aligns perfectly with Krafton’s vision to become a leading player in the broader Indian tech landscape. This approach mirrors the strategies of other successful tech companies looking to expand their reach and influence in emerging markets.
IMM Investment: A Proven Track Record in South Korean Startups
Seoul-based IMM Investment, renowned for its early backing of Krafton and nearly half of South Korea’s unicorn startups, has successfully closed the first tranche of its India fund. The firm has also appointed Prakhar Khanduja, a former partner at Legend Capital, to lead its Indian operations. This experienced leadership team is poised to guide IMM Investment’s success in the dynamic Indian market.
Targeting High-Growth Sectors: A Focus on Innovation and Impact
IMM Investment India will focus on backing startups operating at the Series A stage and beyond across diverse sectors, including consumer brands, technology (SaaS), fintech, gaming, media, and deeptech. The fund’s initial investment has been directed towards Sugar, a prominent cosmetics brand in India, showcasing its commitment to supporting innovative businesses within the consumer goods sector.
Krafton’s continued investment in India signifies its confidence in the country’s burgeoning startup ecosystem and its potential for future growth. By partnering with established venture capital firms like IMM Investment, Krafton aims to leverage its expertise and resources to identify and support promising startups across a wide range of industries.
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