Blockchain project AcknoLedger announced that it has qualified for funding of up to $250,000 (around Rs 1.89 crore) from micro venture capital (VC) firm Eximius Ventures.
Eximius Ventures organised ‘The Gaming Lounge 2021’ on December 8 and 9 with a Gaming PitchFest, that saw the participation of investors like Dream Sports and JetSynthesys, where AcknoLedger was the winner, the company said in a statement.
Gaming PitchFest is a pitch competition for early-stage gaming start-ups. The pitchfest was coordinated by Hunny Pal, an investment analyst at Eximius Ventures.
Founded in 2021, AcknoLedger is a global platform that maps, monetises, and distributes web 3.0 digital assets across all the metaverses and gaming non-fungible tokens.
In October, it raised $1.53 million (around Rs 11 crore) in the initial seed round and private sales.
“The Indian gaming industry is on the cusp of revolution. Gaming is one of the fastest-growing segments in entertainment, second only to OTT platforms in terms of spending. However, many Indians consume games that are developed outside of India.
“The country needs a strong nexus of gamers, content creators, developers, and investors who promote the development of the Indian gaming market," said Pearl Agarwal, Founder and Managing Director, Eximius Ventures.
Eximius Ventures was founded in March last year by Pearl Agarwal, who had previously worked with companies like UTIMCO ($40 billion endowment fund), Merrill Lynch and Global Infrastructure Partners. The micro-VC fund marked the first close of its debut fund in March this year.
Last month, it launched a programme to help undergraduate students participate in deal sourcing and invest in emerging startups from their campuses.