Gaming Report: Krafton Deepens Indian Footprint With JetSynthesys Deal & KIGI Cohort 2 Launch

Here’s a look at two big recent moves shaking up India’s digital and gaming sectors, centred around JetSynthesys and gaming giant Krafton, whose paths seem increasingly intertwined.

First up, JetSynthesys is changing its game plan. After building its diverse digital business for ten years, mostly with internal money, the company announced a major new investment round on April 16, bringing in outside strategic partners, led by South Korean gaming powerhouse Krafton. This happened right after Krafton bought a big piece of JetSynthesys’s Nautilus Mobile studio, and the new funds are set to power JetSynthesys’s push for serious global growth across gaming, esports, and entertainment.

At the same time, Krafton is digging even deeper into the Indian market. They’ve already invested heavily since 2021 and have now pledged another $150 Million for local gaming companies. Their strategy includes buying studios (like Nautilus Mobile) and running the Krafton India Gaming Incubator (KIGI), which just took on its second group of startups, notably including some very new teams, showing Krafton’s commitment to nurturing talent from the ground level.

JetSynthesys Charts New Course With Krafton-Led Investment, Eyes Aggressive Global Play

JetSynthesys, a digital entertainment and technology player born in 2014 under the Navani family’s Jetline Group umbrella, is stepping onto a much bigger stage. After a decade funded largely from within, historically valued at around $100 Million, including a huge ₹300 Crores infusion in 2020, the company is making a pivotal shift. It’s turning the page from relying primarily on family office backing to embracing external strategic and financial firepower, signalling a bold new chapter.

A Strategic Alliance Takes Shape

On April 16, 2025, JetSynthesys announced a fresh investment round led by South Korean gaming powerhouse Krafton. While the exact numbers remain under wraps, the round saw participation from NAFA Private Equity, along with existing backers Pratithi Investments (Kris Gopalakrishnan Family Office), the Adar Poonawalla-led Serum Institute, and the founding Navani family’s Jetline Group. Reports suggest this round valued the Pune-based company at nearly $400 Million, though sources indicate this valuation stems from earlier financial data.

Founder Rajan Navani described this fundraise as “no ordinary milestone.” It represents a conscious evolution for the company. This move gains extra context coming less than a month after Krafton decisively acquired a 75% controlling stake in Nautilus Mobile – the JetSynthesys-owned studio famed for the Real Cricket game series – in a ₹118 Crores deal. Even post-acquisition, JetSynthesys smartly holds onto a meaningful minority stake in Nautilus, maintaining strategic involvement.

The Krafton Connection Deepens

The relationship between JetSynthesys and Krafton isn’t new; it’s a deepening strategic loop. Krafton, the creators of the massively popular Battlegrounds Mobile India (BGMI), has already poured over $200 Million into India’s gaming and tech ecosystem since 2021. Its portfolio includes Nodwin Gaming, a major esports company initially incubated by JetSynthesys and now majority-owned by Nazara Technologies (Nodwin itself raised $28 Million in 2023 from investors including Nazara, Krafton, and JetSynthesys). These interconnected investments paint a clear picture of growing synergy.

Krafton India CEO Sean Hyunil Sohn elaborating on this investment, said, “This investment aligns with our long-term belief in the potential of India as a global innovation hub… JetSynthesys has consistently shown a forward-thinking approach.” For Krafton, JetSynthesys appears to be a key partner in its long-term vision for India as an emerging innovation centre.

Shifting Gears: Why External Capital Now?

After spending nearly a decade building its foundations, Rajan Navani explained the rationale behind seeking external capital now. “We now want to bring other pools of capital, because each brings different kinds of value,” he said. “A financial investor will drive value creation, which is very different from a family office. You also want to bring strategics, which can bring us great scale.”

As India’s gaming sector matures, Navani sees this as the opportune moment for more ambitious growth strategies.

Powering the Portfolio: A Look Inside JetSynthesys

Before aiming globally, JetSynthesys built a remarkably diverse digital empire within India. Its current strength, reflected in a strong FY24 performance showing ₹261 Crores ($31 Million) in revenue with a 15% Profit After Tax (PAT) margin, rests on several pillars:

• Gaming Kingdom (40-45% Revenue): This division is a major revenue driver. Nautilus Mobile’s Real Cricket dominates cricket simulation with nearly 6 Million monthly users. Sachin Saga, developed with the legend himself, engages 1.80 million active users. The portfolio includes other titles like Being Salman and Super Ludo, part of a catalogue boasting over 300 games across various platforms (Android, iOS, HTML, Java).
• Esports Engine: JetSynthesys was an early mover here. Beyond incubating Nodwin, it launched Skyesports (acquired August 2021), which clocked 300 Million views across 15 events in South Asia. RNT serves as a talent engine, involved in over 200 global tournaments across titles like BGMI, COD Mobile, Valorant, and Pokémon Unite. Jetapult, an “invest and operate” arm supporting mobile game studios (backed by Accel Partners and Fireside Ventures), further extends its reach.
• Digital Symphony (Music/Video – 30-35% Revenue): This division recognizes culture beyond gaming and is a strong secondary revenue stream. Key assets include Global Music Junction, the 100MB joint venture with Sachin Tendulkar, and a crucial official partnership with Warner Music covering licensing, artist management, events, and content creation. Platforms like Fanory (creator monetization) and Wakau (short video) also fall under this umbrella, alongside older apps like Vi-Tune and Channel Fight.
• Wellness & Beyond: Venturing into self-care, JetSynthesys offers the holistic health app RightLife and meditation/sleep app ThinkRight. Other ventures include the educational app KidzByte, sports marketing agency Real Sports, and JetMetaphy for immersive brand experiences.

Fueling the Future: The Ambitious Expansion Blueprint

With fresh capital, JetSynthesys has a clear roadmap focused on four key areas:

1. Aggressive Global Expansion: Replicating its India strategy in key international markets: Japan, the US, the UK, the MENA region, and Southeast Asia, using both organic growth and acquisitions.
2. Cutting-Edge Tech Development: Investing significantly in AI-driven personalization and immersive experiences leveraging extended reality (XR). Navani emphasized the shift towards an “experiential economy,” needing deep tech investments to bridge digital and physical consumer engagement.
3. Strategic Talent Acquisition: Bringing in top talent to execute these ambitious plans.
4. Targeted Acquisitions: Pursuing buyouts internationally and domestically to accelerate growth and market entry.

The company has set highly ambitious targets for the next six years: achieving 20-times revenue growth and increasing PAT margins from 15% to 30%. A potential Initial Public Offering (IPO) within the next 18 to 36 months is also part of the strategy to fuel this global push, tech development, talent drive, and acquisition pipeline.

India to the World: A Two-Way Street

Even while looking outward, JetSynthesys intends to strengthen its position in India, aiming to be the preferred partner for global media and entertainment giants seeking entry or growth in the subcontinent. This ambition is rooted in a belief, shared by Navani, that India’s share of global gaming revenue can realistically climb from its current ~2% to 5% within the next six years.

With powerful strategic allies like Krafton, fresh capital injection, existing international offices (Japan, Singapore, Europe, UK, US), and a comprehensive roadmap, JetSynthesys is clearly transitioning from a successful Indian digital entertainment company to a global competitor. This new phase is defined by ambitious expansion plans, a focus on advanced technology, and the pursuit of aggressive growth in revenue and profitability!

Krafton Doubles Down on India: KIGI Incubator Welcomes Second Cohort

South Korean gaming giant Krafton, globally known for massive hits like PUBG and its Indian counterpart Battlegrounds Mobile India (BGMI), is clearly playing the long game in India. Far beyond just publishing games, the company is executing a multi-layered, long-term strategy aimed at cultivating the country’s burgeoning gaming ecosystem. This commitment is underscored by the recent announcement of the second cohort for its India-specific initiative, the Krafton India Gaming Incubator (KIGI).

Krafton’s Deep Dive into India: Investment, Incubation, and Integration

Krafton’s engagement with India isn’t a fleeting interest; it’s a calculated, deeply invested approach. Since beginning major investment activities in 2021, the company has already channelled over $200 Million into various Indian startups. They’ve upped the ante further, pledging an additional $150 Million specifically for Indian gaming and interactive entertainment ventures over the next two to three years. This pushes their total planned investment in the country closer to the $290 Million figure.

Their presence isn’t just financial. Krafton actively publishes titles tailored for the Indian market, including Bullet Echo India, CookieRun India, Garuda Saga, Road To Valor: Empires, and Defense Darby, complementing the ever-popular BGMI. Recent strategic moves also include the acquisition of a 75% stake in Nautilus Mobile, the Pune-based studio behind the Real Cricket series, for ₹118 Crores just last month.

Interestingly, Krafton’s groundwork in India started even earlier. Before launching incubators or buying studios outright, they strategically partnered with IMM Investment, becoming the anchor investor in IMM’s first India-focused fund. This fund, backed by the $7 Billion AUM global asset manager IMM Investment, helped funnel South Korean capital into promising Indian sectors like Consumer Tech, Fintech, Gaming, and Media.

Introducing KIGI Cohort 2: Nurturing the Next Wave

Launched in October 2023, KIGI represents a focused push into pure game development. The announcement of its second cohort reveals an evolution in the program’s approach. KIGI Head Anuj Sahani pointed out they’re intentionally “taking more risks this time,” backing very early-stage teams, some even fresh out of college. He also mentioned that learnings from the first round highlighted a need for “deeper technical support,” which they’re actively addressing now.

The six studios joining Cohort 2 represent a vibrant mix of locations and game concepts:

• Kleanup Games (Madurai): Helmed by Jaiwanth Shanmugam, this studio is crafting Chromadi, a retro-inspired shoot-’em-up arcade game featuring unique colour-mixing mechanics. Look for it on iOS, Android, and Steam Deck around 2026.
• Advaita Interactive (Kolkata): Founded by Judhajit Sarkar, they are developing Inspectorium, a hidden-object detective adventure set in a steampunk reimagining of Victorian-era Kolkata, complete with planned AI-powered interrogations. Releases are anticipated across mobile, PC, and VR platforms between 2025 and 2026.
• Smash Head Studio (Bengaluru): Co-founded by Surendran Ramachandran and Pawan Sandhar (previously known for Gravity Shooter), the team is now working on Cricket Rivals, a real-time multiplayer cricket experience for mobile devices.
• Singular Scheme (Mumbai): Led by Ahad Oomerbhoy, this studio is building Frontier Paladin, a title blending role-playing game depth with action-tower defence strategy. A public demo is already accessible on Steam for early feedback.
• Ginger Games (New Delhi): A fresh face founded in 2024 by Shrey Mishra, Sumit Batheja, and Piyush Kumar. They are creating Monkey Mayhem, envisioned as a casual action-adventure mobile game set for a February 2026 launch.
• Unwind Games (Hyderabad): Founded by Jayant Shukla and Khozema Abuwala, this studio is developing BaoBao’s Journey, a charming puzzle game following a panda’s quest to build a mountain lodge.

The KIGI Support System

These newcomers join the first cohort (ReDimension Games, Shura Games, Dunali Games, Arjuna Studios), most of whom have reportedly soft-launched their games already. The support for the second cohort looks comprehensive. Over the next six to 12 months, they’ll receive mentorship on everything from game design to business strategy, financial help ranging from $50,000 to $150,000, and invaluable access to Krafton’s internal resources, such as data analytics and market research teams.

Crucially, KIGI has onboarded new strategic partners to provide technical muscle:

• AccelByte: Providing essential game backend services.
• GameRefinery (by Liftoff): Offering tools for mobile game optimization.
• AppMagic: Supplying vital mobile market intelligence.
• Amazon Web Services (AWS): Contributing $10,000 in cloud credits to each startup, easing infrastructure costs.

Building the Ecosystem

Krafton India’s CEO, Sean Hyunil Sohn, consistently emphasizes the bigger picture. Echoing sentiments from previous investments, he stated, “We believe game development in India can grow with the right support and access to resources… Through this program, we aim to support Indian developers in building and scaling their ideas.”

Looking at Krafton’s actions collectively – large-scale investments, strategic acquisitions like Nautilus Mobile, direct game publishing for the Indian market, and now, the hands-on cultivation of early-stage talent through KIGI – – it paints a picture of a company deeply invested in shaping India’s gaming future, from established players right down to the newest startups taking their first steps.