Lumikai released the first look of its annual ‘State of India Gaming FY 2022’ report at the India Game Developers Conference (IGDC) Summit at Hyderabad.
The report is the most comprehensive ever undertaken across India’s gaming industry, with inputs from a demographic sample of 2,240 respondents, third-party data providers, nterviews with industry leaders, and Lumikai’s proprietary insights.
Some of the key highlights from the report include:
Sharing his thoughts on the report, Justin Shriram Keeling, Founding General Partner, Lumikai said, “India’s gaming industry this year hit major inflection points, registering strong growth across the board. India crossed half a billion gamers in FY22, up from 450 Mn the year prior. Industry growth is expected to be fuelled by a rapidly increasing gamer base, higher conversion to paid users, and increasing sophistication of Indian gamers. With the market now truly mainstream, we are thrilled to be at the forefront of investing in one of the fastest growing and most dynamic sectors in digital India.”
Commenting on the state of the gaming ecosystem in India, Salone Sehgal, Founding General Partner, Lumikai said, "The last 28 months have been watershed years in terms of attracting VC investment of over $2.6Bn in the Indian gaming landscape. Sustained capital investment and liquidity outcomes in the form of strategic exits valuing $750M+, multiple unicorns, and a publicly traded company have heightened the interests of entrepreneurs and investors alike. This sustained momentum should further drive entrepreneurial ambition and innovation in the Indian gaming industry."