Lumikai Announces $50 Million Investment in Indian Game Developers

Lumikai, an India-based media fund, is set to allocate $50 million to support local game developers, further boosting the country's gaming industry. The investment will cater to studios requiring funding across various stages, from pre-seed to Series A, and will increase Lumikai's total investment in India's gaming sector to over $100 million. The fund will focus on five key areas: original gaming content and digital media, user-generated content platforms, tools and infrastructure, companies utilizing game mechanics, and innovative technologies such as mixed reality and AI. The second Lumikai fund has garnered support from prominent gaming companies and individual investors, including former Take-Two CEO Ben Feder and Gulf Islamic Investments founder Pankaj Gupta. According to Salone Sehgal, founding general partner at Lumikai, 'We aim to drive India's gaming and interactive media revolution, building on the progress made over the past three years.' Justin Shriram Keeling, another founding general partner, added, 'We are privileged to be at the forefront of this revolution, supporting the next generation of gaming and interactive media founders.'