Kratos Studios Secures $20M Capital Led by Accel

India’s Web3 gaming platform, Kratos Studios announced that it has secured a $20 million seed capital. In addition, the recent funding has also placed the company’s valuation at $150 million. 

The financing round led by Accel also had representation from other heavyweights in the industry like Prosus Ventures, Courtside Ventures, Nexus Venture Partners, Nazara, Jet Ventures, and others.

Manish Agarwal and Ishank Gupta, Co-founders of Kratos said the monies received from the fundraiser would assist them in constructing distribution networks for international Web3 games in developing regions. Additionally, they also plan to make investments in the world’s most exciting games.

Following the seed funding, Kratos completed its acquisition of IndiGG, a gaming company from Yield Guild Games (YGG), via a token swap. Meanwhile, YGG recently raised $75 million as it plans to expand its Web3 game studios.

Manish said Kratos plans to launch the token in 12 months and INDI token holders do not need to mark down their investments after swapping.

He went further to say that Kratos would work in collaboration with Polygon’s co-founder Sandeep Nailwal and Yield Guild Games (YGG)’s co-founder Gabby Dizon in order to achieve its goal of creating the biggest gaming DAO in the world.

Kratos Studios Complements India’s Blockchain Industry

The blockchain industry in India is still in its infancy, but it is rapidly expanding. India has a large pool of skilled developers and engineers, many of whom are involved in blockchain projects. Startups like CoinDCX, Unocoin, and WazirX are some of the major players in the Indian blockchain market. 

The Indian government has recently expressed interest in blockchain technology and its potential applications. Indeed, the government has launched a number of initiatives to promote blockchain technology such as the launch of a Central Bank Digital Currency (CBDC). 

Additionally, Tezos India has partnered with Revision, a Connecticut-based non-fungible token (NFT) infrastructure platform. The partnership is aimed at bringing Indian manufacturers and developers into the web3 network.