GamingMonk, a start-up eSports company in India recently announced that it has signed an agreement with Japanese gaming media company GameWith. The Japanese company is expected to providing funding of $100,000 to help GamingMonk establish itself presence in the Indian market. The new partnership is also expected to boost the Indian gaming industry which is growing at a fast pace.
We see a number of domestic gaming operators forming partnerships with international operators in order to make a bigger impression in India’s gaming market. Sports Gaming UK recently partnered with Indian company Playsafe Games Pvt. Ltd which launched Scoring 11 – a fantasy sports website.
GamingMonk And GameWith Strategic Partnership
GamingMonk confirmed that the money raised from the partnership will be utilized to come out with new products, invest in HR programs and to further build their brand. However, GamingMonk did not disclose the stake GameWith will hold or the valuation reached when the round was closed.
During an interview, GameWith, Inc. CEO Takuya Imaizuma expressed his belief that there is a bright future for the gaming industry in India. He added that with GamingMonk’s strong leadership, the company will surely reap the benefits of this fast growing gaming market. Imaizuma also said that they are looking forward to this strategic partnership and are proud to have the opportunity to support the Indian gaming industry.
Abhay Sharma, co-founder of GamingMonk, believes that the partnership is good news not only for GamingMonk but for the whole Indian gaming industry. Sharma said that with GameWith’s extensive experience in the Japanese gaming industry, GamingMonk stands to benefit immensely from the new partnership. GamingMonk has plans to develop innovative products and services for local gaming enthusiasts and will rely on GameWith for input.
GamingMonk Future Plans
A few months ago, GamingMonk was also able to raise Rs. 4 crores from a seed funding round that was participated by Rajan Anandan (Google Vice President of India and South East Asia), Smile Group, Stellaris Ventures, Samir Khurana, AdvantEdge Fund, Japan-based Incubate Fund among others.
GamingMonk was founded by Abhay Sharma and Ashwin Haryani in 2014 with the goal of providing a venue for Indian eSports players to compete in tournaments in both online and offline events, Currently, the platform allows eSports enthusiasts to battle each other in games such as Fortnite, PUBG, Counter Strike, and Fifa 2019. GamingMonk’s website also serves as a portal that provides gaming news and gaming related content.