Kratos Studios expands to Brazil with the aim to empower gamers globally. The company has already taken steps towards establishing a foundation in Brazil, handpicking a team of community builders and business developers. The strategic move is projected to propel Kratos Studios towards quadrupling the overall community income generated on its platform.
Accel-led investee company, Kratos Studios, is set to expand to Brazil, a market which has massive gaming potential. The foray promises to amplify the size of Kratos’ global gaming community and attract an influx of games onto the platform. Also, this will propel Kratos Studios towards multiplying the value exchanged on its innovative platform.
Kratos is co-founded by Manish Agarwal, the former CEO, Nazara Technologies, and Ishank Gupta, a Wharton alumnus who boasts a background in senior leadership roles within AB InBev and BCG.
“Our mission is inherently simple, to unlock avenues for gamers to monetize their time and expertise, while also granting them ownership over their valuable data. Given Brazil’s vibrant gaming population, reverence for local gaming heroes, and its status as a burgeoning market, our expansion aligns seamlessly with our overarching ethos,” Manish Agarwal, founder, Kratos Studios, said.
The company recently raised Rs 160 crore at a valuation of Rs 1200 crore for its new gaming venture and the acquisition of IndiGG DAO. The seed round was led by Accel, with participation from investors including Prosus Ventures, Courtside Ventures, Nexus Venture Partners, Nazara and others.
The gaming venture has witnessed a surge from 380,000 gamers in January 2023 to 821,000 by July 2023. With the move, the company envisions connecting curated gamers from Brazil with Kratos’ 147 partner game studios hailing from South Korea, Japan, USA, Europe, and Southeast Asia.
Despite having a population only one-seventh the size of India’s, Brazil’s gaming market outpaces its larger counterpart. Moreover, the country boasts a significantly higher proportion of PC gamers compared to India. The strategic maneuver with game developers across East Asia, North America, and Europe, provides allure for the Brazilian gaming ecosystem.