India’s largest telecom operator, Reliance Jio stated on Wednesday that it has led a Series-A funding cycle in augmented reality mobile game startup Krikey. The corporation did not disclose the financial details of the funding. Founded in the year 2017 by Standford Alumni and sister Jhanvi and Ketaki Shriram, Krikey is an AR game application that is live on iOS and Android. Through this investment cycle, Krikey’s total funding has grown to $22 million.
The company also launched a new augmented reality game in India ‘Yaatra’, in which Jio users will get exclusive access to 3D-avatar features. The game requires players to use augmented reality weapons such as arrows, chakras and lighting and bolt blasts to fight through the different levels of the game. Prior to this, Jio acquired the music streaming service Saavn and Haptik, a start-up that develops conversational platforms and digital assistants.
Reliance Jio Infocomm incurred a 33% revenue growth expense of INR 40.8K Cr in 2019 to 54.5K INR Cr in 2020. The company reported revenue of INR 2,982 Cr during the fiscal year 2019, which nearly doubled to INR 5,599 Cr during the fiscal year 2020. In addition to the investment, Jio Platforms looks forward to the glory of a massive peak in the user base of its growing network of digital applications.
Akash Ambani, Director JIO said: “Krikey will inspire a generation of Indian people to adopt augmented reality. Our vision is to make India enjoy the best experiences from all over the world, and the introduction of Yaatra is a step in that direction”.