'Games24x7 Ventures' launched to invest in early-stage start-ups
Online gaming company Games24x7 on Tuesday launched "Games24x7 Ventures" to support early-stage start-ups with a corpus of over Rs 400 crore over the next 5 years.
Mumbai, (IANS) Online gaming company Games24x7 on Tuesday launched "Games24x7 Ventures" to support early-stage start-ups with a corpus of over Rs 400 crore over the next 5 years.
The investments will be made with a focus on collaborating with start-ups that have synergies with Games24x7's core business areas. In addition to the capital infusion, selected start-ups will gain from Games24x7's deep understanding of consumers, according to an official report.
"With over 100 unicorns, India has the 3rd largest digital-first start-up ecosystem behind the US and China. We believe that we are very well positioned to support early-stage companies beyond just capital," Trivikraman Thampy, Co-Founder, and Co-CEO, Games24x7 said in a statement.
"Our ROI-focused mindset, intense customer focus, and scientific operating methodology of scaling topline while preserving sound unit economics would be very beneficial in partnering with founders in building hyper-growth companies which will endure," Thampy added.
The collaborations with start-ups will also see Games24x7 supporting them with organisational capabilities outside of just financial assistance in an effort to leverage the opportunity to develop an ecosystem of high-tech innovation and make India a global technology hub, the report said.
"With Games24x7 Innovation Fund, we strive to be a catalyst in the growing start-up community which offers a perfect amalgamation of unique ideas, disruptive business models, and new innovative technologies,a said Bhavin Pandya, Co-Founder and Co-CEO, Games24x7.
News BY IANS (Indo-Asian News Service)
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