Lottery and gaming technology firm AGTech and One97 Communications Limited have invested $16 million in their joint mobile gaming venture, Gamepind, to help fuel the service's expansion in India.
Gamepind is a joint mobile gaming venture between the two companies that offers a range of social, casual, and lottery-based mobile games through One97 Communications' Paytm app. One97 owns a 55% stake in Gamepind, with AGTech holding the remaining 45%.
That expansion will be overseen by the company's newly appointed COO, Sudhanshu Gupta. Gupta, who has been a part of Paytm since 2013, was one of the members of the team responsible for the app's development.
"We plan to add more gaming categories such as real money games," Gupta said in a phone interview with Livemint. "Currently a 40-member team, Gamepind plans to add another 20-25 people."
AGTech is notably owned by Alibaba, which entered the gaming industry last year itself through the formation of a new business group from the acquisition of Chinese gaming firm, Ejoy.