- The startup will use the funding to develop new features to increase user engagement on their gaming platform.
- Investors including Hungama and Hindustan Talkies participated in the round.
- IGL hosts PC, Xbox, PlayStation 4, Mobile, and Nintendo games on the platform.
Mumbai-based Esports gaming platform Indian Gaming League (IGL) has raised up to $500K (about Rs 3.6 crore) in funding led by digital entertainment company Hungama and Hindustan Talkies, a digital content production company.
Hindustan Talkies made this strategic investment after it acquired the rights to the highly acclaimed and sought-after biography “Honorary Tiger: The Life of Billy Arjan Singh.”
IGL will use the raised funding to acquire new users and develop new features to increase user engagement on the platform. It will also look forward to launching Indian Gaming League Championship Cup Season 1, a 45-day tournament that will allow users to compete in six stimulating games and win prizes, the statement said.
Founded in 2016 by Yash Pariani, Indian Gaming League Private Limited operates as IGL Network is an online esports gaming platform which organizes gaming tournament like IGL Pro League as well as other offline events. The startup claims that it has witnessed over 600% user growth on its platform in the last two months. Last year, IGL had hosted over 3,000 esports tournaments on their platform.
Commenting on the development, Yash Pariani, said, “Having Hungama and Hindustan Talkies coming on board will help us reach a larger audience and scale esports to new heights. We’re excited to have their expertise and mentorship to guide us in the right direction and achieving our vision of making e-sports a household name.”
Neeraj Roy from Hungama Digital Media said, “At Hungama, our plan is to engage with over 10 million gamers in the next two years with our esports initiatives.”
“India has the largest youth population in the world and with its ever-evolving broadband infrastructure and its affordability, we expect esports to soar further and create more uproar. For Hindustan Talkies, its association with esports allows it to foray into yet another exciting form of entertainment,” said Ashish Chowdhry, Director, Hindustan Talkies.
Earlier this month, another online gaming platform Nazara Technologies raised Rs 100 in funding from Instant Growth Limited (IGL), the investment vehicle of North America-based limited partners (LPs) of Hornbill Orchid India Fund.