Indian Gaming & Esports: Investment Tracker Q3 2025

India’s gaming and esports sector has seen a sharp rise in deal activity over the past three months. Despite a slowdown in global funding in the gaming sector, domestic and international investors are backing Indian studios, platforms, and ecosystem initiatives at a steady pace. 

The last three months saw a series of high-profile deals from global esports acquisitions to AI-first game development, which show a sector that is moving toward asset creation and international relevance. Here are the biggest investments, mergers and acquisitions from the last three months in the Indian gaming and esports sector. 

NODWIN Gaming Takes Majority Control of EVO (Aug. 2025)

The quarter opened with a landmark cross-border acquisition. NODWIN Gaming acquired Sony Interactive Entertainment’s stake in Evolution Championship Series (EVO), becoming a majority shareholder alongside RTS. The deal positions NODWIN as one of the few India-origin companies with ownership of a major global esports IP.

Sony will now remain associated with EVO as a sponsor, while NODWIN gains operational and strategic influence over the world’s largest fighting game tournament. This acquisition strengthens NODWIN’s push to build a global esports portfolio and signals rising confidence in Indian firms to manage international competitive assets.

Akshat Rathee, co-founder and managing director of NODWIN Gaming, revealed, "our investment in EVO is a testament to our commitment to the FGC. We are passionate about growing the community and look forward to working with the talented teams at Evo and RTS to elevate the experience for fans and players worldwide."

PlaySuper Raises $1M to Scale Gaming Commerce (Sept. 2025)

Gurugram-based PlaySuper raised $1M in seed funding, led by Chimera Ventures with participation from Audacity VC and others. The company integrates real-world rewards into mobile free-to-play and skill-based games, creating new monetization opportunities in markets where spending remains low.

The funding will help PlaySuper strengthen its product and expand into Southeast Asia, where reward-linked gaming platforms are gaining traction among publishers seeking stronger retention.

Airoclip Secures $2.75M for AI-Driven Game Development (Oct. 2025)

Bengaluru’s Airoclip raised $2.75M in seed funding from T-Accelerate Capital, Centre Court Capital, and Bitkraft Ventures. Airoclip develops puzzle and hybrid-casual mobile games built around AI-led personalization, dynamic storylines, and adaptive live operations. 

For investors, the bet is clear. AI-native studios can shorten development cycles, lower hit dependency, and build titles that respond to user behavior in real time. The deal also reflects a broader trend of VCs shifting attention away from real-money gaming toward scalable, globally viable IP creation, following the introduction of India’s Online Gaming Bill. 

Exiles Interactives Raises $355K in Pre-Seed Round (Oct. 2025)

Exiles Interactives, another Bengaluru startup, raised $355K in pre-seed funding led by Chimera VC, with Warmup Ventures and IndigoEdge joining the round. The company is building Centarius, a browser-based multiplayer platform focused on quick and casual gaming experiences. 

With browser-based gaming regaining relevance due to mobile hardware saturation and rising web performance, Exiles is positioning itself in a format that prioritizes accessibility and social play.

LVL Zero Launches Gaming Incubator With $100K Grant Pool (Nov. 2025)

Nazara Technologies, MIXI Global Investments, and Chimera VC launched LVL Zero, a new gaming incubator supported by Google Play as a knowledge partner. Each cohort receives access to a $100K equity-free grant pool, along with mentorship, publishing assistance, and playtesting resources. 

The program aims to support over 100 gaming startups in five years, addressing one of the industry’s biggest gaps, which is a structured pipeline for early-stage game development. For the Indian gaming ecosystem, LVL Zero marks a shift toward long-term capability building rather than one-off funding cycles.

STAN Adds New Backing to Its Series A (Nov. 2025)

Creator-led gaming platform STAN received an additional investment as part of its ongoing Series A, bringing total Series A funding to $10.5M. The new contribution comes from the Sony Innovation Fund, joining existing backers including Bandai Namco and Square Enix.

Parth Chadha, co-founder and CEO of STAN, revealed, “we see the participation of Sony Innovation Fund in STAN reinforcing our belief in the strength of our vision and India’s pivotal role in the global gaming landscape. Together with our investors, we aim to build the most creator-empowering, mobile-first platform that redefines how gaming communities connect and thrive.”