The India unit of gaming agency Krafton has backed IMM Funding’s maiden India fund as an anchor restricted associate because the battle royale BGMI-maker broadens its funding bets within the South Asian market.
Seoul-based IMM Funding, an early backer of Krafton and roughly half of South Korea’s unicorn startups, has made the primary shut for India fund and employed former Legend Capital associate Prakhar Khanduja to run the native unit.
Nihansh Bhat, lead of company growth for Krafton India, instructed TechCrunch that the IMM fund funding would assist the gaming firm faucet into newer enterprise classes and sectors in India.
IMM Funding’s India fund is the third enterprise agency that Krafton has backed in India. The agency, which has additionally backed 3one4 Capital and Lumikai, will proceed to judge related alternatives sooner or later, mentioned Bhat. Krafton has invested greater than $170 million in India and earmarked one other $150 million for the nation.
Khanduja mentioned IMM Funding India will look to again startups working at a Collection A-level or past in sectors together with client manufacturers and tech, SaaS, fintech, gaming, media and deeptech. The India unit has made its maiden funding in Sugar, a number one cosmetics model.
