Starlight Gaming Plans To Invest $10 Million In Indian Gaming Industry

Updated on: 18 July 2023 4:33 pm

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Fashion e-commerce Brand Styched Acquires D2C Casual Sneaker brand Flatheads Photo: This is the first acquisition by Styeched, which will help the company to bolster its footprint in the Indian fashion industry.

Starlight Gaming, a Softstar Entertainment-owned subsidiary has planned to invest $10 million (Rs 82 crore) to fuel its operations in India. It is also focussing on the Indian market with a long-term vision.

"We are taking calculated steps and are initially investing an estimated $10 million for marketing and operations," the general manager of Softstar Entertainment, Yautian Chen told The Economic Times.

"As we move forward to establish a formidable business entity in India, we will continue to invest as and when the need arises," he added.

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It launched its first battle royale game Raider Six, a few days ago. The company is also planning to spend Rs 50 crore on marketing the game.

"Our app went live on July 4, and we had over 1 million downloads until July 11. We are hoping to break even in 10-11 months with the kind of response that we are getting. The original plan was to break even in 15 months," said Laveesh Pandey, the COO of Starlight Gaming.

Softstar Entertainment is also planning to monetise the game through in-app purchases and in-app advertising. According to Chen, Softstar is presently looking for brands and film collaborations.

According to a report by FICCI-EY, the Indian gaming industry may witness a compound annual growth rate (CAGR) of 20 per cent in the coming time. The industry may also bad Rs 23,100 crore in revenue.