India is the number 1 consumer of mobile gaming apps: Lumikai

Lumikai, India's first gaming and interactive media VC has evaluated 1,300 plus deals in the ecosystem over the last two years and built a portfolio of 12 companies resulting in an over 40 percent internal rate of return. On the sidelines of TiEcon Conference 2023, CNBC-TV18’s Aishwarya Anand caught up with Salone Sehgal, founding general partner of Lumikai, and spoke about how the gaming sector has evolved since the fund launched in 2020.

Sehgal said, “Indians last year downloaded 15 billion gaming apps and in fact Indian users constitute nearly 20 percent of the world's mobile games download.” She added that India is the number 1 consumer of mobile gaming apps.

India boasts of nearly 28,000 startups, out of which only 18 percent have women founders, noted a joint study by tie Delhi-NCR, Zinnov, Google, Netapp, and Indian Angel Network.