Gaming
KRAFTON signs MoU with Gujarat government to boost esports and gaming ecosystem
Mumbai: In a significant development for the Indian gaming industry, KRAFTON Inc, the leading South Korean video game developer, has announced a strategic Memorandum of Understanding (MoU) with the government of Gujarat and TransStadia Technologies Pvt Ltd. This collaboration is set to stimulate the technology, gaming, and esports ecosystem in Gujarat, furthering KRAFTON’s dedicated efforts to cultivate India’s overall gaming and technology environment.
The vibrant state of Gujarat, known for its rapid economic growth and burgeoning status as a magnet for foreign direct investment (FDI), is now poised to become a pivotal center for the esports and gaming industry. The state’s commitment to technological innovation and digital infrastructure makes it an ideal partner for KRAFTON, aiming to propel the local and national gaming scenes to new heights.
“We are immensely proud to announce our partnership with the Government of Gujarat, a collaboration representing a significant stride forward for game development and esports in India. By combining Gujarat’s vibrant growth environment and our expertise in game development and esports, we are set to create unparalleled opportunities for talent development, infrastructure enhancement, and community engagement. We firmly believe that this collaboration will have a profound and positive impact, fostering innovation, and inspiring a new generation of gamers and developers.” said KRAFTON India CEO Sean Hyunil Sohn.
The government of Gujarat expressed enthusiasm for the partnership, emphasising its alignment with the state’s vision for digital and economic growth. government of Gujarat minister for home, sports, youth and cultural activities Harsh Sanghavi remarked, “Government of Gujarat will benefit from this collaboration with KRAFTON as it will undoubtedly catalyze our efforts to transform Gujarat into an indigenous and interactive hub for e-sports. We look forward to the positive impact this partnership will have on our youth and the broader esports gaming community.”
KRAFTON has already invested $160 million in Indian startups since 2021 and plans to invest an additional $150 million over the next two to three years. In line with this commitment, KRAFTON recently launched the KRAFTON India Gaming Incubator program, an initiative designed to nurture game development talent in India by providing funding, mentorship, and essential resources to promising developers.
More recently, KRAFTON India also hosted BMPS 2023 (Battlegrounds Mobile India Pro Series) in Ahmedabad, a collaborative effort by KRAFTON and the city of Ahmedabad to foster the growing gaming ecosystem. With the signing of this MoU, the future of gaming and esports in Gujarat and India at large is brighter than ever. This collaboration is expected to create new opportunities, nurture talent, and establish Gujarat as a landmark destination for the global gaming community.
Gaming
Dream Sports sees 100 plus exits after gaming ban forces overhaul
Company splits into eight units as real money gaming law hits revenue.
MUMBAI: For a company built on fantasy leagues, reality has suddenly rewritten the rulebook. More than 100 employees have exited Dream Sports, the parent of Dream11, after the company reorganised its operations following India’s ban on real money online gaming. The shake up came after the Promotion and Regulation of Online Gaming Act, 2025 came into force in August 2025, prohibiting games where users deposit money expecting winnings. The regulation struck at the heart of the fantasy gaming industry and dramatically affected Dream Sports’ core business, wiping out about 95 percent of its revenue and all of its profits.
In response, the Mumbai based company shifted into what chief executive officer Harsh Jain described as “startup mode”, splitting its operations into eight independent business units in December.
Around 700 employees were reassigned across these newly formed ventures based on their experience and interests. However, roughly 15 percent opted to leave the company.
A spokesperson for Dream Sports said many of those who exited were experienced professionals accustomed to running scaled businesses rather than early stage ventures.
“Since some of these employees were experienced with running high scale businesses and not startups, around 15 percent chose to leave and join other scaled companies or start ventures of their own,” the spokesperson said.
Despite the departures, the company noted that the attrition rate is only slightly higher than its earlier level of around 10 percent before the ban. Dream Sports now has close to 950 employees and is not currently hiring, choosing instead to focus on stabilising its existing workforce.
The restructuring has transformed Dream Sports from a fantasy gaming company into a broader sports entertainment platform. The eight units now operate independently, each focusing on different segments of the sports and technology ecosystem.
These include Dream11, sports streaming platform Fancode, sports travel service DreamSetGo, mobile game Dream Cricket and artificial intelligence initiative Dream Sports AI, which includes sports analytics platform Dream Play.
Other ventures include fintech product Dream Money, open source initiative Dream Horizon and the philanthropic arm Dream Sports Foundation.
As part of cost saving efforts, Dream Sports also relocated its headquarters from Bandra Kurla Complex to Worli earlier this year. The new office, called Dream Sports Stadium, brings teams from its various brands together under one roof to improve collaboration and operational efficiency.
Jain had earlier said the company removed bonus lock in timelines for employees hired in recent years, allowing those who wished to leave to exit with pro rata payouts.
“We want people who are fully into the startup mode and willing to work for it, and we will share that reward if it comes,” he said.
Founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports was last valued at 8 billion dollars after raising 840 million dollars in 2021 from investors including Falcon Edge Capital, DST Global, D1 Capital Partners, RedBird Capital Partners, Tiger Global Management, TPG and Footpath Ventures.
The new gaming law has forced several companies in the fantasy gaming sector to either shut down or pivot their business models, signalling a significant reset for one of India’s fastest growing digital entertainment industries.
