VC investments in online gaming start-ups hike 114% to $376 mn in 2020
Online gaming gained speed during the lockdown phase and the month-on-month traffic is still increasing, attracting investors.
According to Venture Intelligence data, venture capital investments rose by around 114 per cent this year to $376 million (January to date) from $176 million in 2019 (full year). Investors say the online gaming industry presents the next multi-billion dollar opportunity for start-ups and enterprises, especially after the ban on Chinese apps.
According to reports, online gaming companies have risen up to 275 in 2019, which is a huge increase considering there were only 25 such start-ups in 2010.
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First Published: Tue, December 01 2020. 00:36 IST
