New-age digital entertainment and technology company, JetSynthesys, has announced a capital infusion of INR 300 crore to deepen its global foray into gaming, digital entertainment, and interest-based social community platforms.
With over 100 million consumers across 180 countries, the fresh capital will be leveraged to launch new products, ramp up technology, talent, and content, along with accelerating marketing, and expand the consumer base over the next 3 years. The fundraise positions JetSynthesys to be amongst India’s first tech and gaming unicorns with a global presence, and partnerships in countries such as Japan, US, Europe, and India, one of the only Indian players to do so.
The fresh capital comes from existing shareholders of JetSynthesys, part of the Navani family owned Jetline Group, led by the family office of Adar Poonawalla and Kris Gopalakrishnan. Other shareholders of JetSynthesys include India’s leading billion-dollar family offices of the promoters of Thermax, Triveni Group, DSP Group, all of whom are making rapid strides into digital domains in the new post-Covid landscape.
Speaking about the capital raise, Kris Gopalakrishnan, Non-Executive Chairman, JetSynthesys, opined, “We have several initiatives in gaming, content, digital commerce, mindfulness and fintech which are seeing increased traction during Covid times. Our international business with global partners is also seeing increased traction. This funding will allow us to invest more in sales and marketing as well as scale up operations.”
The infused capital will be leveraged to put JetSynthesys’ digital platforms into high gear, each of which is currently poised to reach INR 100 crore in annual revenue in the next 24 to 36-months. The investment will enable the development of world-class digital products and mobile games with high fidelity and network play, strengthen the company’s deep tech stacks in new technologies like AI, Blockchain, AR/VR/MR and quantum computing, deepen JetSynthesys’ presence in global e-sports, and help the company create large global IPs and forge new strategic partnerships with gaming powerhouses across leading markets like Japan, United States, and Europe.
Commenting on the investment, Rajan Navani, Vice Chairman & Managing Director, JetSynthesys said, “Since our inception, we’ve believed in the power of technology, content and digital transactions converging to impact the daily lives of people positively. The current times have seen a huge surge in data consumption and large investments have come into telecom providers of data. In that light, we’ve succeeded in creating products and platforms with world-class expertise that have found their niche with millions of end consumers who ride on this data infrastructure and consume this data,.”
Navani further added, “We want to use this latest fundraise to create more success stories at scale, across varying demographics, geographies, and socioeconomic classes; similar to what we achieved with Nodwin Gaming, an esports venture we co-founded that has grown to about INR 100 crore revenues in just 4 years. We’re confident this fresh capital will help us to further strengthen our technology, content and distribution stacks in a new emerging era of contactless experiences through made in India apps with the best talent available globally, funded through Indian capital.”
Adar Poonawalla, Chief Executive Officer, Serum Institute of India, and scion of the Cyrus Poonawalla Group, said, “Our family office has had a long history with healthcare and wellness. In light of recent global developments, digital products and services are the need of the hour, since they help everyone feel connected, while also contributing to social distancing. Gaming, social communities, and digital entertainment have thus become basic essentials in this new normal, and I’m happy to be associated with a company like JetSynthesys which is playing a critical role in these sectors, not just in India, but also globally. I am privy to the developments on this front, and I foresee some exciting times ahead for all of us.”
Kickstarting this exciting growth phase is the launch of ‘WWE Racing Showdown’, in an exclusive partnership with WWE, a one-of-its-kind, high-octane, vehicular combat game featuring the best of mobile action, sports, and racing.
With some of the best graphical fidelity in mobile games, JetSynthesys’ gaming arm is behind the creation of games like Sachin Saga Cricket Champions, Sachin Saga VR, Being Salman, and Super Ludo, which has cumulatively seen over 30Mn+ downloads and publishing partnerships with the likes of Hollywood film Passengers and Floyd Mayweather.
The funds will also go into further developing and building JetSynthesys’ captive social destination arm which boasts of popular names, prominent ones being 100MB, a first-of-its-kind digital destination born out of an exclusive joint venture with Sachin Tendulkar, and ThinkRight.me, India’s leading meditation and mindfulness app, digitally available in 43 countries.