Kratos Studio Yields $20M in Seed Funding Round and Acquires IndiGG
The Indian-based Web3 gaming firm Kratos Studio has generated $20 million in a seed funding round. As per February 23 report, Kratos funding round propelled the firm’s value to $150 million. The unwavering support from Accel and Nexus Ventures, among other Web3 and tech firms inspired Kratos’ bold move in the Web3 space.
Also, Kartos has closed an acquisition agreement with a Web3-based gaming platform IndiGG to launch its native token.
Krators Seed Funding Round
The race to dominate the Web3 industry inspired Krators Studio to launch a seed funding round. The funding round tasked Krators to partner with American-based venture capital Accel. Other tech firms, including Prosus Ventures, Nexus, and Nazara Group, also extended their support. The combined forces of the Web3 firms generated $20 million in the seed funding round.
An announcement from the Kratos team on February 23 revealed that the seed funding pushed the firm’s value to $150 million.
Previously, Kratos had hosted a similar seed funding round in 2022 that generated $6 million. In 2022, Kratos’ funding round was supported by leading venture capital firms and crypto operators, including Sequoia Capital, Animoca brands, Jump Capital and Alan Howard.
A follow-up tweet dated February 23 revealed that Kratos closed an acquisition deal with an Indian gaming platform IndiGG. Following its latest acquisition, Kratos aims to develop a suitable digital asset to host INDI traders and retail consumers.
Kratos Acquires IndiGG
A subsequent report from the Web3 gaming company co-founder Manish Agarwal on February 23 confirmed that Kratos’ native token would be launched after 12 months. Agarwal pledged to maintain the investment value for INDI traders by exchanging their tokens in dollar currency.
He reiterated that Kratos would collaborate with IndiGG to launch India’s first decentralized autonomous organization (DAO) games.
In his speech, Agarwal projected an upsurge in IndiGG’s income generated from proposed ad revenue. He remains optimistic that after the launch of IndiGG ad revenue, the company will yield a substantial amount from Indian and South Asian consumers.
According to Agarwal, Kartos, and IndiGG will utilize the existing playbook in expanding to Africa, the Middle East and other parts of South Eastern Asia.
In addition, to fulfill the acquisition requirement, Kratos is tasked to develop a unique business model that harmonizes gamers’ and developers’ activities to increase revenue generated from gaming.
In support of this, Kratos co-founder Ishank Gupta stated that the Web3 gaming company will make a bold step in launching a series of on-chain platforms for gamers. Gupta’s report revealed his plans to commercialize the Kratos gaming platform.
Kratos Next Move
Gupta announced to engage of Kratos developers to develop a gaming quest system. He states that the developers and gamers navigating the Web3 space using the new gaming system will incur an additional cost in operating the system.
Initially, Kratos has provided technical assistance to gamers by integrating an off-ramping mechanism in exchanging crypto assets centred on the on-chain technology into digital fiat currency.
Notably, Kratos developers launched the IndiGG application a few days ago to attract more gamers and developers to create a leading gaming technology. The February 23 announcement revealed that Gupta and his counterpart Argarwal would partner with the Polygon team and Yield Guide Games (YGG) executive Gabby Dizon in the quest to create international DAO gaming.
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