Kratos Studios raises $20M and completes the acquisition of IndiGG through a token swap

Kratos Studios raises $20M and completes the acquisition of IndiGG through a token swap

Bengaluru, February 23, 2023: Kratos Studios, co-founded by Manish Agarwal and Ishank Gupta, announced the fundraising of US$20M at a valuation of US$150M. The seed round was led by Accel, with participation from Prosus Ventures, Courtside Ventures, Nexus Venture Partners, Nazara and others.

Agarwal and Gupta are building a Web3 gaming Decentralised Autonomous Organisation (DAO) under the IndiGG brand, which they have also acquired through a token swap. The funding will enable them to build distribution rails for global Web3 games in emerging markets. Additionally, the DAO will invest in identifying, building and developing the most promising Web3 games worldwide. Agarwal and Gupta will work closely with Polygon co-founder Sandeep Nailwal and Yield Guild Games (YGG) co-founder Gabby Dizon towards the mission of building the largest gaming DAO in the world. 

Nazara Technologies, where Agarwal was formerly the CEO, has also invested in this round to collaborate with IndiGG on the web3 front.

Commenting on this development, Manish Agarwal said: “We are providing the 500M+ 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.”

Ishank Gupta said: “The IndiGG stack will partner with existing gaming micro-communities, both on-ground and online, as sub-DAOs in the IndiGG ecosystem. The South Asia region has witnessed massive growth because of the young gaming population.”

 Gabby Dizon, co-founder of YGG, said: “South Asia has a thriving gaming community. YGG is backing IndiGG to build a Gamer’s Nation and plug Indian gamers into the global world of Web3 Gaming.”

Sandeep Nailwal, co-founder of Polygon, added: “At Polygon, our dream of bringing a billion users on chain can get a huge boost through IndiGG. Under the leadership of Manish and Ishank, IndiGG will become the foremost partner for chains and games building in Web3.” 

Following the acquisition, existing INDI token holders will be swapped to new tokens at the time of the Token Generation Event for the new token. However, until then, the INDI token will continue trading on existing exchanges.

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About the Founders

Manish Agarwal

Manish Agarwal is an IIM-A & NIT-W alum and joined India’s nascent gaming ecosystem 15 years ago post successful stints with Hindustan Unilever and Microsoft, among others. As the CEO of Nazara, he was the driving force in making it India’s first & only publicly listed gaming company. Manish was also the co-chair of the IAMAI Gaming Council and the convenor of the FICCI Gaming Committee.

Ishank Gupta

Ishank Gupta is an IIT-Bombay & Wharton alum who, over the past decade, has operated and advised consumer firms in China, the UK, South Africa, and India. During his stints with global marquee companies like AB InBev & BCG, he has built and led cross-functional & diverse teams. In addition, he actively invests in early-stage ventures focused on consumer and blockchain.

About Kratos

Kratos is building a ‘network state’ around gamers in emerging markets. Kratos’ mission is to educate, entertain and create value for the time and skill of these gamers. We enable this by creating an on-chain reputation for gamers that transcends closed ecosystems. Game Developers will use this reputation system as multiple, sizable cohorts can be created in a pool of 500M+ gamers.

About IndiGG

IndiGG is a blockchain-based gaming community (DAO) building distribution rails in emerging markets for global Web3 games. IndiGG is starting with South Asia and aims to leverage the disposal time and skill of 500M+ gamers to make South Asia a digital goods factory for the world. This will create massive income generation opportunities for gamers and a huge inflow for the government exchequer.

Website: https://indi.gg/

Discord: https://discord.com/invite/igg

Twitter: https://twitter.com/IndiGG_DAO

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