Indian gaming industry is in the process to raise $513 million (around Rs 4,000 crore) by the end of this calendar year, according to a report.

The sector has witnessed a funding jump of 380% from 2019 and by 23% from 2020, gaming-focussed venture firm Lumikai says in its new report, State of India Gaming FY22.

The report surveyed across 2,240 respondents, third-party data providers, industry leaders and Lumikai’s proprietary insights, further highlights that Web3 has emerged as the most popular technology in games with 30% of 450 Indian Web3 firms operating in gaming. The space has secured $400 million in 2019-22.  read more