Games24x7, which operates the online rummy platform Rummy Circle and fantasy sports platform My11Circle, is the latest casualty of the government's ban on real-money games.
Games24x7’s accelerator, TechXpedite, will broaden its scope to cover AI-driven skill development and inclusive technologies in its third edition
Games24x7's offerings, especially fantasy sports, are expected to drive the company’s growth in 2025 as the company bumps up investments in technology and artificial intelligence, said co-CEO and co-founder Trivikraman Thampy.
Games24x7 is looking to support startups across hardware and software through its expanded accelerator program, TechXpedite, and its corporate venture capital arm
"We are in a space where technology is growing rapidly. Every second word coming out of people's mouths these days is AI/ML and data science" Pandya said.
Games24x7's operational revenue surged 70 percent to Rs 1,988 crore in FY23, from Rs 1,169 crore in FY22.
Games24x7 will help identify and mentor early-stage gaming startups. It has partnered with Amazon's cloud unit Amazon Web Services AWS for this initiative.
Panigrahi has been with Games24x7 for over 15 years, playing a key role in shaping the firm's product strategy across multiple roles
India's top gaming firms say they were not consulted by IAMAI despite being members of its gaming committee while issuing its statement on the country's draft gaming rules
At Davos 2023, Games24x7 co-founder Bhavin Pandya said they are eyeing a pan-India expansion for its rummy offerings.
Games24x7 Ventures will have a corpus of over Rs 400 crore in the next 5 years.
Games24x7 Ventures will back startups in the areas of online gaming, sports tech, esports, marketing technology, digital content, digital communities.
Chugh has over 26 years of experience including multiple legal and advisory roles at companies across various industries including the Essar Group, Cummins India, Airtel and the Bharti Group.
In a bid to grab eyeballs and add a credibility factor, real-money game brands in India are roping in big names from entertainment and sports, pushing overall marketing spends to record highs for the sector.
Games24x7 plans to use the funds raised to accelerate its user growth, content development, and technological capabilities.
The task force is really the first step towards formalization of the AVGC industry, says Bhavin Pandya, Games24x7.