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This week, India-based gaming firm Dream Sports raised US$400 million, bringing its valuation up to nearly US$5 billion.
As an avid gamer myself (my current obsession is Bloons Tower Defense 6 – it’s so addictive), the news caught my attention. After all, US$400 million is not a small amount, and it made me wonder just how lucrative the gaming industry was.
However, looking at funding data over the past three months, it seems like Southeast Asia has yet to catch gaming fever. Of the 30 startups in the gaming industry that received funding since the start of 2021, all but two came from India or China.
We’ve heard some news from a number of players upping their gaming efforts, but with the industry projected to be worth almost US$300 billion in 2026, it’s interesting to me that we haven’t seen a slew of gaming startups emerge from Southeast Asia, especially in the wake of the pandemic.
Perhaps it’s time that Southeast Asia takes India and China’s lead (it often does with the latter) and venture further into gaming.
You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.
Let’s dive into the biggest deals and M&As that recently took place.
BIGGEST DEALS BY COUNTRY
🇨🇳 Momenta: The Chinese autonomous driving tech provider bagged US$500 million in series C money from Bosch, Cathay Capital Private Equity, Daimler, SAIC Capital, Shunwei China Internet Fund, Temasek Holdings, Tencent Investment, Toyota, and Yunfeng Capital.
🇮🇳 Dream Sports: The Indian gaming firm raised a US$400 million late-stage funding round from ChrysCapital, D1 Capital Partners, Falcon Edge Capital, Footpath Ventures, Steadview Capital, TPG Growth, Technology Crossover Ventures, and Tiger Global Management.
🇮🇱 Orca Security: The Israeli cloud visibility platform scored US$210 million from CapitalG, GGV Capital, Iconiq Capital, Redpoint Ventures, and Silicon Valley CISO Investments in its series C funding round.
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