It came as a surprise when Keywords Studio, the service provider of International video games industry, acquired the Indian startup Lakshya Digital for $4 million. Indian startups have been acquired in the past too by international brands. However, with this news, it is high time that Indian startups are taken seriously.
Within the past couple of years, Facebook and Google too had acquired two startups,Little Eye Labs and Impermium respectively. Though startups in India are making an impact in the world market, outsourcing projects to India has been a phenomenon of the past. India has been and still is a major nation where web designing and web development projects are frequently outsourced. The Indian startup Lakshya Digital seems to be walking towards huge success in the very near future.
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About Lakshya Digital
Founded in 2004, the Indian startup Lakshya Digital has come far in these ten years. The fouonders, Shukul, Prakash and Chaudhuri, lovers of video-games themselves, foresaw the rising video-game industry of India. This was the ignition that paved way for their success making a mark in the $890 million Indian industry.
The gaming history
Lakshya Digital, like any other startup, too had dealt with a tough phase. In the initial year, Lakshya Digital served the domestic market with its web development solutions for video gaming industry within India. However, once the international brands started showing interest in Indian industries there was no looking back. The startup now boasts of clients like Microsoft, Disney, Namco Bandai and Square Pnix to name a few. With global market as their clients, the acquisition of the Indian startup Lakshya Digital was obvious.
The company has also realized hugely in their growth and development. According to records by yourstory.com, the startup has been growing at a rate of 30% a year. Video gaming industry has been growing at an equally rapid pace. The cost of developing a low level video game is over $20 million. This is one of the main reasons for companies to outsource their game development projects to countries like India.
Face of Indian startup
Though Indian startup is booming, there are many hurdles that the Indian startup Lakshya Digital has faced in terms of professionals and piracy. According to founder Shukul, India still does not possess powerful and skilled professionals in the gaming sector.
Piracy, too, is a major problem in India. Piracy in all forms are rampant throughout the country. This has become a one major issue for the stunted growth of Indian gaming industry in the world market.
The presence of India in the gaming sector is being recognized as games make their way into human lives. Smartphones are presently hugely popular as portable gaming consoles. And this will be a thriving industry within the coming few years as said by Shukul.