Singapore’s Ampverse To Build Gaming Studio In India

Singapore-based gaming company Ampverse has announced plans to set up a gaming studio in India in partnership with non-banking finance company (NBFC) DMI Finance. 

Ampverse cofounder and chief strategy officer (CSO) Charlie Baillie told news agency PTI that the gaming company will invest in building a studio and other capabilities in the country. It will also sell products and merchandise in collaboration with DMI in India. 

“Content is a big part of our business. We will be investing in the studio and other capabilities…. It will be set-up before the end of season 1 (of College Rivals esports tournament) in February..,” said Baillie.

Besides, the gaming firm also plans to further expand its team size in India. While Ampverse DMI currently has 8-10 employees in the country, it plans to increase this number to 50 in the next 12-18 months.

In addition, the two companies will also develop and launch a clutch of esports intellectual properties (IPs) and services for Indian gamers. As part of its India foray, the joint venture unveiled ‘College Rivals’, its first esports series in the country, on Wednesday (August 23). 

“We expect over 80,000 students to participate in season 1 of College Rival. The platform will also work as a talent search platform. It will help us screen the best gamers,” noted Baillie.

With this, Ampverse has become the latest global gaming giant to venture into the country. In June, Taiwanese gaming giant Softstar Entertainment spun off an Indian subsidiary to republish its popular titles in the country. Prior to this, Chinese gaming major Tencent also re-entered India with the launch of its game Undawn. 

Earlier this year, the Indian government revoked the ban on popular battle royale game Battlegrounds Mobile India (BGMI), which is owned by South Korean gaming company KRAFTON.

A majority of these global companies are eyeing the explosive growth that the homegrown gaming space has witnessed in the past few years on the back of increased smartphone and internet penetration. As growth stagnates in other markets, these companies are eyeing a piece of the Indian market to shore up their revenues and boost user count. 

As per a report, India accounted for more than 507 Mn gamers at the end of FY22, with the overall gaming industry in the country projected to to grow multifold to $8.6 Bn by FY27.