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[Weekly funding roundup] Venture investments begin on a tepid note for month of March
Venture funding for first week of March was little under $50 million with lower number of deals, but debt financing was higher at $55 million
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The first week of March has not begun on a positive note for the Indian startup ecosystem with decline in venture funding when compared to the last week of February.
The week saw total venture funding of $49 million spread across 14 deals. This compared poorly with the last week of February, where the amount had touched $403 million.
Although, the positive highlight of the week was debt venture fund, which actually had a higher amount when compared to the equity funding. There were four debt deals during the week which garnered $55 million.
IGL will utilise the funds to acquire new users, develop new features.
03 Mar, 2021 - 11:38 AM IST | By indiantelevision.com Team
KOLKATA: Hungama Digital Media and movie and digital content production house Hindustan Talkies have made a strategic investment of up to $500,000 in e-sports platform Indian Gaming League (IGL). The funds will be utilised by IGL to acquire new users and develop new features to increase user engagement on the platform.
IGL will also use the funds to launch Indian Gaming League Championship Cup Season 1, a 45-day mega tournament that will allow users to compete in six stimulating games and win prizes. The tournament will culminate with Indian Gaming League Awards – a first-of-its-kind grand star-studded virtual awards night to recognise the winners of the championship.
Hindustan Talkies and Hungama partner with Indian Gaming League
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