Krafton has invested over a whopping $100 million in India. It aims at making a foray into other business ventures, aside from gaming. It is known for developing the multiplayer battle royale game, PlayersUnknown Battlegrounds (PUBG). In an interview with ET, Karfton’s CEO Changhan Kim shed light on the company’s plan to invest in India.
India imposed a ban on PUBG Mobile back in June 2020. The country restricted access to a slew of Chinese apps. The ban came amid a border conflict with China. Krafton launched an Indian version of PUBG Mobile in July 2021. The game is known as BGMI. The top executive claims that the multiplayer battle royale game has hit 100 million registered users since its debut. Also, he thinks PUBG Mobile’s India ban was unfortunate.
Krafton launched BGMI last July after a lot of effort. The game has been built exclusively for Indian gamers, he explained. Krafton is actively investing in startups across various segments. It has invested in entertainment, gaming, and media startups. Also, it has shelled out $100 million on seven startups. These include Kuku FM and Nodwin Gaming. The company has invested in Pratilipi, as well.
Krafton Prepping To Invest $100M+ In India
Krafton collaborated with iQOO for the BGMI tournament. Now, the company is expanding its portfolio. So, it will enter the entertainment, media, and IP sectors. Mr. Kim says that it could invest over $100 million in the rest of the year. The investment plan will continue in 2023. BGMI is gaining popularity in the country. There’s a major decline in the global financial market. But, the company will not stop supporting its current portfolio companies.
In fact, Mr. Kim feels the downturn is a chance to get great deals in the market. Krafton went public in 2021. It rose to popularity due to PUBG. The shooter game had 50 million monthly users in India. It gained popularity among avid gamers in the country. But, India restricted the game. Notably, the ban was a result of national security concerns.
Now, most firms failed to re-enter the Indian market. But, Krafton relaunched a new game in the country. Now, BGMI is similar to PUBG Mobile. However, Krafton introduced some changes to suit the Indian audience. Also, these adjustments address some local concerns. BGMI is one of the most popular battle royal games in India. So, Karfton’s attempt to expand its business is understandable. So, it will be interesting to see how it performs in other sectors.