JetSynthesys Bags Funding From KRAFTON

SUMMARY

The company has not disclosed the financial terms of the deal

Besides KRAFTON, the round also saw participation from NAFA Private Equity and existing investors including Serum Institute, Pratithi Investments and Jetline Group

The startup will deploy the newly raised capital for global expansion, technology and talent acquisition

Pune-based digital entertainment and technology company JetSynthesys has secured an undisclosed capital from South Korean gaming giant KRAFTON.

The round also saw participation from NAFA Private Equity, along with existing investors, including Serum Institute, Pratithi Investments and Jetline Group.

JetSynthesys will deploy the newly raised capital for global expansion, technology, talent and potential acquisitions.

The company is aiming for 20X revenue growth and doubling of the profit margin to 30% over the next six years.

“This investment further fuels our mission to build culturally rooted, globally relevant digital experiences—deepening our leadership in India and expanding into key international markets through IP-led innovation, local partnerships, and strategic acquisitions,” Rajan Navani, founder and chief executive, said.

Founded in 2014 by Navani, JetSynthesys is part of the Navani family owned JetLine Group of Companies. Besides gaming, JetSynthesys has also launched mobile applications in other domains such as video ringtone app Vi-Tune and over-the-top (OTT) platform Channel Fight, among others.

Further, JetSynthesys also cofounded the widely known listed gaming major Nodwin Gaming.

With an eye on India’s gaming market, the KRAFTON has already invested nearly $200 Mn in the country. It is further looking to pour an additional $150 Mn to $200 Mn to accelerate its investment momentum in the country’s gaming industry.

Besides, KRAFTON is also planning to set up a research and development (R&D) facility in India by 2026, its India head Sean Hyunil Sohn said last year.

Back then, he said, “We will continue to launch new games for the Indian market, either sourcing from outside or from India. We will do our best to set up a good quality development team based in India and develop quality games based on Indian culture.”

The BGMI developer has earlier backed Nazara-backed NODWIN, Loco, game-based dating app FRND, gaming publisher Deftouch, among others, in India.

KRAFTON told Inc42 that it will first pick minority stakes in promising Indian gaming startups, and then increase the stakes as synergies become stronger. It also said that the acquisitions in the future will be part of its expansion strategy in India.

In the most recent development, its Indian arm acquired a controlling stake in Pune-based game development studio Nautilus Mobile with an additional investment of INR 118 Cr last month.

Notably, international gaming giants like KRAFTON are looking at India as a lucrative market amid increased interest and government’s push to the sector.

The Indian gaming sector generated about $3.8 Bn in revenue in the fiscal year 2023-24 (FY24), as per a report by Lumikai.