Krafton signs MoU with Gujarat govt to boost the state's gaming and esports ecosystem

Krafton has pledged to invest $150 million in Indian gaming and interactive entertainment startups over the next 2-3 years as the company looks to capitalise on the country's rising potential as a global gaming hub.

Krafton, the maker of the popular battle royale title Battlegrounds Mobile India (BGMI), has on March 14 announced a strategic Memorandum of Understanding (MoU) with the Gujarat government and sports firm TransStadia as the South Korean gaming giant looks to bolster its presence in the country.

Through this agreement, Krafton said it will work closely with the state government to help nurture the gaming and esports ecosystem in Gujarat.

"By combining Gujarat's vibrant growth environment and our expertise in game development and esports, we are set to create unparalleled opportunities for talent development, infrastructure enhancement, and community engagement" said Sean Hyunil Sohn, CEO, Krafton India.

Harsh Sanghavi, Gujarat's minister for Home, Sports, Youth and Cultural Activities said, "Government of Gujarat will benefit from this collaboration with KRAFTON as it will catalyze our efforts to transform Gujarat into an indigenous and interactive hub for e-sports"

In August 2023, Krafton had pledged to invest $150 million in Indian gaming and interactive entertainment startups over the next two to three years as the company looks to capitalise on the country's rising potential as a global gaming hub.

This followed the firm's earlier $140 million investment across 11 Indian startups since March 2021. With the new corpus, the South Korean gaming giant's total commitment to the Indian gaming and tech startup ecosystem now stands at about $290 million, making it one of the most prolific strategic investors in the country in recent times.

Krafton also announced an India-specific incubator called Krafton India Gaming Incubator in October, that will incubate game development startups in the country.

In the past year, Krafton has also been working towards localising its offerings to attract more players to its game titles. In February, the game publisher launched its first India-themed game called Garuda Saga, that will be exclusive to consumers in India and will be available as a free download on Android and iOS devices.

The company also announced in December 2023 that Bollywood superstar Ranveer Singh will be a playable character in BGMI, which is currently among the most grossing apps in the country.

In November 2023, Krafton hosted a professional BGMI league called Battlegrounds Mobile India Pro Series 2023 in Ahmedabad, where 16 teams battled it out for a prize pool of Rs 1 crore. The 3-day event saw an attendance of about 15,000 spectators, the firm said at the time.