New age digital entertainment and technology company, JetSynthesys, has announced a capital infusion of Rs. 300 crore to deepen its global foray into gaming, digital entertainment and interest-based social community platforms.
With over 100 million consumers and across 180 countries, the fresh capital will be leveraged to launch new products, ramp up technology, talent, and content, accelerate marketing and expand the consumer base over the next 36 months.
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, United States, 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.
The infused capital will be leveraged to put JetSynthesys’ digital platforms into high gear, each of which are currently poised to reach Rs. 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 the company’s deep tech stacks in new technologies like AI, blockchain, AR/VR/MR and quantum computing.
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.
Commenting on the investment, Rajan Navani, Vice Chairman & Managing Director, JetSynthesys said, “We want to use this latest fundraise to create more success stories at scale, across varying demographics, geographies and socio-economic classes; similar to what we achieved with Nodwin Gaming, an esports venture we co-founded that has grown to about Rs. 100 crore revenues in just 4 years.”
Speaking about the capital raise, Kris Gopalakrishnan, Non-Executive Chairman, JetSynthesys said, “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.”
Adar Poonawalla, Chief Executive Officer, Serum Institute of India, and scion of the Cyrus Poonawalla Group said, “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.”