Yash Mehta

Gaming and interactive media is emerging as a sunrise sector in India, with immense potential and promise. One of the early stage investors leveraging the India opportunity is Lumikai Fund, a specialised #VC #fund focussed on #gaming and #interactivemedia. Lumikai's Fund I came in 2020 with a corpus of $40Mn, as it aimed to support pre-seed to Series A stage startups with cheque sizes ranging between $200K – $1.5 Mn. It started deploying in early 2021 and rolled out Fund II worth $50 Mn in 2023, just after a span of three to four years. So far, Lumikai has backed 15 companies using both funds. This includes companies such as All Star Games (Deftouch), AutoVRse, Bombay Play, BuyStars, CloudFeather Games, Eloelo, Giga Fun Studios, House of X, Loco , QuriousBit Games, Singularity, Stealth, Studio Sirah, Super Nova, and Vobble. As part of Inc42’s ongoing #moneyball series, we had an exclusive interaction with Lumikai's founding general partner Salone Sehgal to delve deeper into Lumikai’s investment thesis for India’s gaming and interactive media space and the secret sauce to help startups succeed. Link to the story in comments. Inc42 Media Pooja Sareen Vaibhav Vardhan Utkarsh Agarwal Abhyam Gusai Sanghamitra Mandal

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I recently had a fascinating discussion on 3.0 TV, a channel at the forefront of Web3 journalism in India. We dove into the burgeoning Web3 gaming sector in India, a field that's just as thrilling as it is complex. India, with its rich gaming culture and a robust community of Web3 developers and startups, stands on the brink of becoming a leader in this innovative industry. The potential benefits are vast, promising opportunities for individuals and entities across all city tiers. However, we're facing some significant regulatory headwinds. Recent GST amendments, which took effect on October 1, 2023, have thrown us some serious curveballs. A striking example is Gameskraft, which was hit with a tax demand for INR 21,000 crores on funds held in trust for its users. These developments have sparked around 30 writ petitions across 11 high courts, all now escalated to the Supreme Court. This has created a precarious wait-and-see situation, where the pace at which the world moves won't slow down for us to sort our internal issues. The danger of losing our early mover advantage is real and pressing. What's clear is the urgent need for a robust, tailored regulatory framework that can nurture and not stifle growth in Web3 gaming. We can learn a lot from international models like Malta's, Singapore, Switzerland, amongst others, which might provide some valuable insights. A synchronized regulatory regime is crucial to disincentivize regulatory arbitrage seeking. Moreover, there is an immediate need for clarity on how GST impacts business models in the online gaming sector to prevent these models from being undermined. The risks of inaction are significant. Without the right regulatory support, we risk seeing Indian Web3 gaming companies relocate abroad, leading to brain drain and loss of valuable intellectual property. The financial implications are massive too—excessive demands could potentially drive this nascent industry out of India, and the government might not even achieve its revenue targets. Web3 games are likely to be the forerunners of what we will come to know as the metaverse, representing digital environments where economic and social dynamics play out in real-time, always-on virtual worlds. As with any emerging industry, early adopters set the standards and lead innovations. India has the potential to leverage its Web3 capabilities to influence various sectors globally, pioneering future business models. But this can't be done in isolation—the industry needs proactive policy engagement to flourish and achieve global leadership. Reflecting on all this, it's clear that India shouldn't chase short-term financial gains at the expense of stifling a promising industry. Thoughtful, supportive regulations could help cultivate a thriving Web3 gaming ecosystem within the country. Here’s hoping for wise decisions that harness our full potential and keep us at the forefront of digital innovation. https://lnkd.in/dMY_ahSw

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What are the latest innovations and shifts in the Indian startup scene? Discover how Google’s AI is breaking language barriers and what’s next for Paytm amidst investor pullouts. Don’t miss out on these exciting stories—watch the full news wrap now only on TICE TV - https://lnkd.in/g6rZY5bU #StartupNews #Innovation #AI #Paytm #startup #news #update #entrepreneurship #startupspotlight #topstartupnews #weeklynews

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Bharat Web3 Association has prepared a message for #NirmalaSitharaman urging for  a level playing ground for Web3 startups and businesses to thrive in. Dilip Chenoy said, "The #Web3 sector holds immense potential to revolutionise multiple sectors, including finance, governance, and supply chain management while also enhancing transparency and efficiency," which is why the sector needs a fair chance, under regulatory oversight. My story for Gadgets 360 👇 https://lnkd.in/dcrPAW8c

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What an insightful chat with Ankush Sabharwal of CoRover on how BharatGPT is building use cases across entreprises and sectors. He sheds light on challenges in bringing #GenerativeAI to application in India and how far India is from seeing large-scale deployments!

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The online gaming community in India comprised 42.5 crore gamers in FY 2023, the second largest after China. From FY20 to FY23, the segment in India recorded a CAGR of 28% culminating in a market size of ₹ 16,428 crore in FY23*. However, one of the biggest challenges is to separate online gaming from illegal online betting.

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🚨 IMP: Facebook parent Meta will start allowing companies from regulated sectors such as online gambling and over-the-counter drugs to use the WhatsApp Business platform to send promotional messages to users in India. The policy change comes as Meta looks to accelerate monetisation from WhatsApp, its most expensive acquisition to date. WhatsApp is currently the world's most popular messaging app with over 2 billion daily active users across the world and India being its biggest market with over 500 million users. This move is part of a broader change in the company's WhatsApp Business messaging policy that is opening up the platform to certain regulated or restricted sectors, including alcohol, in limited countries. Messages that promote alcohol are, however, not permitted in India. by Vikas SN https://lnkd.in/gSKxeYZu

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Angel tax axe opens funds-gate for startups - Times of India In a move that will widen the pool of available capital for startups and expedite closure of funding rounds, angel tax for all classes of investors has been axed. "This will make it significantly easier for us to complete transactions faster and streamline the investment process. Previously, the requirement for IT officers to understand and assess valuations led to unnecessary conflicts and delays.Valuation assessments were never meant to fall within the purview of IT officers. This change el... Read more here: https://lnkd.in/dmVtrEqm . . Like 💝 Comment below ⏬ Share ✅ For More Such Updates Follow Us @qnewshub @qnewscrunch . . #qnewshub #qnewscrunch #Business

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🚨 Exclusive: Unicorn alert! Trading startup Dhan in discussions to raise $100 million at $1.5 billion valuation Avendus likely picked to run the mandate When asked about what was giving the three-year-old startup the confidence in commanding such a high valuation a second source said that Raise is “currently at a revenue run rate of $100 million, or around Rs 830 crore and has a net profit margin of 40 percent. With those financials, the amount and valuation Raise is eyeing should be easily achievable." Prior to Dhan, Pravin Jadhav earned his spurs growing and scaling Paytm Money, the brokerage arm of the fintech giant. However he parted ways on unpleasant terms in March 2020, joining a slew of other senior leaders who had quit around that time. Since then, Paytm Money has ceded market share to its rivals and recently made leadership changes in an effort to resusuticate this business. Differences over remuneration, including ESOPs and annual salary, had led to Jadhav’s departure from Paytm Money, a unit he built from scratch within the company. Since his exit, the relationship between the two have only turned more sour, with Jadhav taking swipes at Paytm Money on social media platforms such as X. with Tushar Goenka https://lnkd.in/gZGjZSFB

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On India's 78th Independence Day, PM Narendra Modi emphasized the role of online gaming in their digital economy. With a vision to "Make in India for the world," this sector is set to drive innovation, jobs, and global leadership. As a Sri Lankan and someone who is trying to navigate this unrecognized industry in Sri Lanka, it's exciting to see this transformative journey in India! It's inspiring to see country leaders speak about gaming. But in Sri Lanka, what are we even thinking? #gaming #startups #investments Leeg

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IMPART SUMMIT 2024: Investors from Southeast Asia, Middle East, Australia to get insight into India’s robust startup ecosystem. The summit will traverse key Indian startup hubs, offering participants unique engagements with top-tier VC firms, and insightful roundtable discussions with policymakers and government entities. https://lnkd.in/ghdWce8f

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JioCinema, the streaming platform run by India's Reliance Industries Limited, on Thursday cut prices of its premium offering to as low as 29 rupees a month, heating up competition for Netflix and Amazon. Reliance runs multiple TV channels and JioCinema streaming app through its media unit Viacom18 Media Private Limited and has a sizeable hold over India's $28-billion media and entertainment market. An advertisement-free version would start at an introductory price of 29 rupees per month for streaming on a single device and go up to 89 rupees for a "Family" plan to stream on four simultaneous devices, JioCinema said in a statement. Lower prices would place JioCinema in a stronger footing to compete with Netflix and Amazon after an agreement with The Walt Disney Company to merge India TV and streaming assets, and content deals with the likes of Warner Bros Discovery, opens new tab and NBCUniversal. With Aditya Kalra for Reuters :

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Innovations Venture Studio Invests in NewsReach India, India's Leading PR Tech Platform Innovations Venture Studio, a premier investment firm focused on early-stage technology investments, today announced a significant investment in NewsReach, India's groundbreaking press release distribution platform. The capital infusion will allow NewsReach to rapidly scale its proprietary technology, expand its market footprint, and solidify its position as the nation's preeminent solution for maximising brand visibility and digital presence. NewsReach is a company that provides huge PR support to individuals and businesses across various industries, including startups, philanthropic organisations, entertainment, and FMCG brands. With over 1,550 satisfied clients, NewsReach aims to connect advertisers with the right audience in the right location. Read the full article here - https://lnkd.in/dJp46ADa Darshan Shah #innovations #investment #PR #startups #news #prplatform #expansion #funding #growth #technology #philanthropic #branding #advertising

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Indian startups secured $4.3 billion from private investors in the third quarter of 2024, marking a 17% decline after a sharp uptick in funding in the previous quarter, finds the latest report by DealStreetAsia – DATA VANTAGE. Deal count increased marginally on a quarter-on-quarter basis to 343 transactions in Q3, according to India Deal Review: Q3 2024. On a year-on-year basis, the total private funding garnered by Indian startups almost doubled in Q3 2024, while deal volume rose by 64%. Download the DealStreetAsia report to check the funding secured by Indian startups, top industries by deal value in Q3 2024, and much more! My colleague PRAMUGDHA MAMGAIN's in-depth research.  

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The buzz around startup IPOs in India is palpable, and as I write this, Ixigo’s IPO subscription is open—the third after GoDigit and Awfis in the last four weeks. Why is listing particularly relevant for startups now, and why is everyone talking about it? The Indian startup ecosystem boomed around a decade ago, and many of those companies are now ready to take the next obvious step: going public. Listing on the stock market demonstrates a level of independence and commitment that is often unachievable as a private entity. Hence, most founders aspire to list one day. The current momentum in the Indian IPO ecosystem has only reassured founders of this confidence. There is even a compelling case for companies wanting to reverse flip and list in India to capture the momentum of strong domestic investor interest. In the next 18-24 months, over 20 startups are planning to go public, with many more evaluating their options. A prevailing challenge is the lack of an established IPO playbook for new-age companies that do not have traditional asset-backed balance sheets and profitable track records. These startups challenge the regulator’s well-established metrics for gauging financial health. Founders also face decisions about selecting the correct jurisdiction and are unclear about the post-listing obligations that apply given their diluted shareholding. In this article, I will cover common concerns faced by all stakeholders as startups move through the IPO process and provide insights to help new-age startups navigate the complexities of going public. Venture Highway | Neeraj | Priya | Rahul | Aakanksha | Parth | Akul | Abishek | Siddhi | Siddhant | Ajoy | Nipun

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The crypto market, especially in India, is booming exponentially. With the rise of such massive interest in crypto, we’ve started holding live trading sessions. In these sessions, we do live trading and analysis and discuss the fundamentals of certain Cryptos & indicators. Here’s the clip from today’s session 👇 https://lnkd.in/ecEKXg8P #crypto #livesession

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#FundingWithYS 💰 💼 Company: ClickPost 💸 Funding: $6 million ⚡ Round: Series A 👥 Investors: Inflexor Ventures and Athera Venture Partners (formerly Inventus India) The round also saw participation from Riverwalk Holdings and existing investor Rebright Partners. The startup will use the funds to launch new AI-driven modules and expedite global growth and hiring. Read more at the link in our comments section below 👇 by Sayan Sen | #Funding #Startups

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