Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Youzu Interactive a China-based gaming company is planning to enter the Indian market. According to an ET report, Youzu Interactive’s India CEO Anuj Tandon stated that the company is planning to launch local Indian casual strategy games in 2017 through its unit which is set to come up in Pune.
As per sources close to the development, the company is planning to invest about $10 Mn in creating local games, acquisitions, and for investments and partnerships in gaming and entertainment startups in the country.
Launched in 2009 by Qi Lin and Weisong Zhu, Shanghai-headquartered Youzu Interactive is a developer and publisher of online and mobile games. In June 2014, YOUZU Interactive was officially listed on the capital market, becoming the first domestic A-share gaming company in China. Currently, besides China, the company has its presence in North America.
Talking about the company’s expansion plans, Anuj said: “This year we are looking at creating four to five local casual strategy and social casino games for the Indian market, besides introducing our global content. We will also scout for and aim to make strategic investments in the Indian gaming and entertainment startup industry.”
He further added, “This year we would be looking at social casino, cricket, shooting games for the Indian market, but as we wait for the market to mature we will have role-playing games, mid- and hardcore-strategy games that we will introduce into the market. We have seen signs of Indians paying for mid-core gaming content.”
India’s mobile gaming market is worth $214 Mn. In December 2016, five months after its official launch the world over, games company Niantic partnered with Reliance Jio and launched Pokemon Go on the Apple App Store and Google Play in India. In January 2017, Udupi-based gaming startup 99Games raised an undisclosed amount of funding from Japanese investment firm Dream Incubator, with participation from existing investors Kalaari Capital and Ascent Capital.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.