Alibaba’s gaming and entertainment outfit AGTech and One97 Communications have invested $16m into joint mobile venture Gamepind Entertainment.
Gamepind is targeting an increasingly-mobile Indian market. The company is split 45:55 in favour of One97 and has named its own Sudhanshu Gupta as the new chief executive of the venture.
Gamepind is currently available within One97-owned Paytm’s app and offers a selection of social and casual games. The company hopes to release its own, standalone app within the next six months.
“We plan to add more gaming categories such as real money games,” said Gupta
“Currently a 40-member team, Gamepind plans to add another 20-to-25 people.”
Gamepind director and AGTech president G.M. Cheng added: “AGTech continues to firmly believe in the vast potential of Gamepind and its ability to capture the fast-growing mobile games market opportunity in India.
“Going forward, AGTech will continue to strengthen our business in India, while...globalizing our business in other selected overseas markets.”