Is it game, set and match for the Indian gaming industry?

Good morning

With people working from home, social distancing becoming the norm, and limited physical sporting events due to the pandemic, online gaming has seen significant activity over the past few months.

Mumbai-based startup, Nazara Technologies, backed by billionaire-investor Rakesh Jhunjhunwala, recently became the first Indian gaming technology company to file for an initial public offering (IPO).

mpl — MPL cofounders Sai Srinivas Kiran and Shubham Malhotra

With e-sports platform, Mobile Premier League (MPL), raising $95 million and gaming companies raising a combined capital of $462.08 million across 23 deals from 2020 till now, is it then ‘game, set and match’ for the sector?

As per Google-KPMG, India is now the world’s fastest-growing mobile gaming market, growing at 22 percent annually, poised to be worth $1.1 billion by 2021.

The Interview

The EV industry hopes with Budget 2021 presented by Finance Minister Nirmala Sitharaman were high, especially as India has a target to become the largest EV market in the world by 2030. Chetan Maini of Sun Mobility said that the Budget put integrated recognition of the industry with Rs 18,000 crore outlay to support public bus transportation services, as well as Metro Lite and Neo-Metro services in Tier I and II cities.

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Startup Spotlight

Bengaluru-based coffee startup uplifts small and medium farmers by improving the value chain

The coffee drinking experience has been gaining traction in India, with the country now the sixth-largest producer of coffee. Yet, many small and medium farmers aren’t getting the expected reach. That’s why Soomanna Mandepanda and his spouse Puja Soomanna started Humblebean in 2017 ties up with small coffee farmers in south India, roasts and grounds supply, provides the beans to roasters, exports its products, operates brew bars, and has an online presence. Read more.

News & Updates

The Ministry of Corporate Affairs has amended rules for One Person Companies (OPCs) to bring more unincorporated businesses into the organised corporate sector, and has extended fast track merger process to startups and other small companies.

Times Internet, Reliance Industries, Bharti Airtel, ShareChat, and government-backed National Informatics Centre (NIC) emerging as India’s top app publishers in 2020, according to app analytics provider App Annie. Meanwhile, Ludo King-maker Gametion emerged as India’s top game publisher.