Karatos Raised $20 million and Acquired a sub-DAO of Yield Guild Games DAO

Kratos Studios, a web3 gaming startup based in India, has raised $20 million in seed funding and achieved a valuation of $150 million. Accel led the funding round, with participation from Prosus Ventures, Courtside Ventures, Nexus Venture Partners, and Nazara Technologies.

Kratos also acquired IndiGG, a sub-DAO of Yield Guild Games DAO, via a token swap. Existing $INDI token holders will receive new Kratos tokens when they launch in 12 months.

Kratos's business model brings game developers and gamers onto its platform, earning revenue from both sides. Kratos also helps gamers with the off-ramping process that converts on-chain assets into fiat currency in their bank accounts.

Kratos co-founder Manish Agarwal said the company aims to build the largest gaming DAO in the world, and plans to expand to Africa, Southeast Asia, and the Middle East. Agarwal and Gupta will work closely with Polygon co-founder Sandeep Nailwal and YGG co-founder Gabby Dizon.