The gaming platform GamingMonk raised a $100,000 strategic investment from the japan based gaming firm GameWith.
GamingMonk is the largest community focused esports startup in India,having stronghold in media content,community and esports.
The new strategic partnership is expected to raise synergies,support and collaboration for Indian gaming industry.It also raised alliance and funds from Incubate Fund,Rajan Anandan,Stellaris Ventures,Smile Group and AdvantEdge.
Takuya Imaizumi, CEO of GameWith Inc., said, “The gaming industry in India has strong growth potential and GamingMonk, led by a strong management team, is well-positioned to further benefit from industry trends. We are excited about the company’s growth prospects and proud to have this opportunity to support the journey.”
The online gaming industry in India is expected to generate a revenue of Rs. 11,900 crore by FY 2023. The number of gamers have crossed 250 million (expected to reach 628 million by 2020) from 25 million in 2010, according to a report by consulting major KPMG and industry’s self-regulatory body, Indian Federation of Sports Gaming.
The fast-paced gaming industry brings hope to the new entrepreneurs in the sector with the advancement in AI aided gaming.