 "Nihansh Bhat, lead — corporate development, Krafton India")
Krafton, the developer and publisher of Battlegrounds Mobile India (previously known as PUBG Mobile India), has acquired a controlling stake in Pune-based game development studio Nautilus Mobile for Rs 118 crore, marking its first majority acquisition in India.
The investment follows the South Korean gaming publisher’s strategy to strengthen its game development capabilities in the country and explore collaborative opportunities for game publishing.
“We intend to work together with Nautilus to develop more games for the Indian market and collaborate on some titles — not just from an intellectual property (IP) perspective but also from a co-development perspective,” Nihansh Bhat, lead — corporate development, Krafton India, told Business Standard.
The company’s decision to acquire a controlling stake follows its initial investment of Rs 40.5 crore in Nautilus in 2022. The Pune-based game studio has developed the cricket gaming franchise Real Cricket.
“We felt that we could work more closely with Nautilus — one of the best development teams in the country — once they were under the Krafton umbrella, particularly on projects tailored to the Indian market, leveraging the know-how of Indian developers,” Bhat added.
The capital infusion is positioned as a strategic collaboration, with Nautilus continuing to operate as an independent entity.
Ownership of IPs in collaborative projects and investments would depend on agreements with individual studios, Bhat said, saying that collaborative game development was still in its early stages.
“The partnership will enable us to secure additional collaborations beyond our existing ones. We will tap into Krafton’s network and resources to strengthen licensing partnerships, which will allow better authenticity in our cricket games,” said Anuj Mankar, chief executive officer of Nautilus Mobile.
Mankar’s firm has partnerships with five Indian Premier League teams, including Mumbai Indians, Lucknow Super Giants, Rajasthan Royals, Punjab Kings, and Sunrisers Hyderabad.
The company has launched multiple titles under the Real Cricket IP, including Real Cricket 24 and Real Cricket 22, as well as Real Cricket GO — a lightweight version designed for low-end devices — and the legacy title Real Cricket Premier League.
Krafton’s Battlegrounds Mobile India has over 200 million users in India.
In February, the Korea-based company invested Rs 450 crore in Indian financial technology (fintech) firm Cashfree Payments. Krafton invests through its balance sheet, focusing on gaming studios, publishing platforms, media and content, and companies with synergistic business models, such as fintech and software-as-a-service platforms.
“Our investments are never made to exit. We invest to work together strategically, and that is best achieved when investments come directly from our balance sheet,” Bhat added.
Since 2021, Krafton has invested over $200 million in several Indian startups across interactive entertainment, gaming, esports, and technology.
