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Kratos Studios acquires IndiGG

Economic Times   INC42  

Web3 gaming startup Kratos Studios has acquired Bengaluru-headquartered gaming venture IndiGG from Yield Guild Games through a token swap, an equity swap equivalent for decentralised autonomous organisations.

From the Venture Intelligence PE-VC Deal Database: In Jan-22, IndiGG, a part of Yield Guild Games (YGG), had raised USD 6 million (about INR 44.7 crore) in funding from Sequoia Capital India, Lightspeed Venture Partners, Variant Fund, Play Ventures Dune Ventures, Jump Capital, Griffin Gaming Partners, Transcend Fund, Animoca Brands, Scopely, Backed and Sfermion, IVC, Emfarsis and others. IndiGG is a Sub-DAO of YGG being built in association with Bangalore-based blockchain tech company Polygon to create a play-to-earn gaming hub within India. Angels in the round included Reddit co-founder Alexis Ohanian, Brevan Howard Asset Management co-founder Alan Howard, and executives from the Indian gaming and entertainment companies, including Mobile Premier League (MPL), Hungama, Nazara, WinZo and Hindustan Talkies.