Bengaluru-based Indian Web3 start-up Kratos has raised Rs 160 crore in a seed funding round led by Accel. Prosus Ventures, Courtside Ventures, Nexus Venture Partners, and Nazara Technologies also joined the round. 

Multiple sources reported that this is one the highest seed round fundings led by an Indian start-up. Kratos earned a Rs 1200 crore valuation after this deal. 

The start-up recently acquired IndiGG, a gaming venture previously owned by Yield Guild Games, through a token swap. 

Prior to the acquisition, IndiGG raised $6 million in a funding round, led by Sequoia Capital India and Lightspeed Ventures Partners in January. 

According to a report by Entrackr, part of the newly raised capital will be spent on developing the distribution rails in the Web3 gaming industry. Additionally, IndiGG will also utilise a part of the entire funds to develop its product platform to support gaming teams. Moreover, the company hopes to develop the largest web3 gaming Decentralised Autonomous Organisation (DAO) under the IndiGG brand. 

Addressing the latest development, Manish Agarwal, the chief executive officer (CEO), said, "We are providing the 500 million or more South Asian gamers with an opportunity to leverage their time and skill to become creators of digital goods on the blockchain for global games. This will enable South Asia to transform into a digital goods factory for the gaming world."