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New-age digital entertainment and technology company JetSynthesys has announced a capital infusion of ₹300 crore to deepen its global foray into gaming, digital entertainment, and interest-based social community platforms. With over 100 million consumers, the fresh capital will be leveraged to launch new products, ramp up technology, talent, and content, accelerate marketing, and expand the consumer base over the next 36 months.
“The fresh capital comes from existing shareholders of JetSynthesys, part of the Navani family owned Jetline Group, led by the family office of Adar Poonawalla and Kris Gopalakrishnan,” the company added in the press note.
Other shareholders of JetSynthesys include India’s leading billion-dollar family offices of the promoters of Thermax, Triveni Group, and DSP Group, all of whom are making rapid strides into the digital domains in the new post-Covid landscape.
“The infused capital will be leveraged to put JetSynthesys’ digital platforms into high gear, each of which are currently poised to reach ₹100 crore in annual revenue in the next 24 to 36 months. The investment will enable the development of world-class digital products and mobile games with high fidelity and network play, and strengthen the company’s deep tech stacks in new technologies,” the company stated.
Rajan Navani, Vice Chairman and Managing Director, JetSynthesys, said, “We’re confident this fresh capital will help us to further strengthen our technology, content and distribution stacks in a new emerging era of contactless experiences through ‘Made in India’ apps with the best talent available globally, funded through Indian capital.”
Speaking on the capital-raise, Gopalakrishnan, Non-Executive Chairman, JetSynthesys, opined, “We have several initiatives in gaming, content, digital commerce, mindfulness and fintech which are seeing increased traction during these Covid-19 times.”
Poonawalla, Chief Executive Officer, Serum Institute of India, said, “ In light of recent global developments, digital products and services are the need of the hour, since they help everyone feel connected, while also contributing towards social distancing. Gaming, social communities, and digital entertainment have thus become basic essentials in this new normal.”
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