Paytm’s parent, AGTech infuse $16 Mn into joint venture Gamepind, appoint new COO

Paytm

Paytm parent One97 Communications and AGTech Holdings have put in $16 million in Gamepind, a joint venture between both Alibaba-backed companies.

Following the deal, the joint venture also appointed former Paytm executive Sudhanshu Gupta as its chief operating officer.

Gupta will oversee all operations and technology of Gamepind which is currently available on Paytm app. The capital infusion will help Gampind to launch an independent app in the next six months to reach out to more audience.

Gamepind has got its head post after a gap of seven months. In January, this year, Dushyant Saraswat who led the mobile gaming joint venture had resigned to launch his own gaming startup Mindhunter Games Technologies.

In July last year Paytm formed the joint venture with Hong Kong-based lottery firm (AGTech Media) to launch the mobile gaming platform in India.

In the joint venture, AGTech Media holds 45 per cent and Paytm is a majority stakeholder, owning 55 per cent. As of now,  AGTech had invested $7.2 million in the platform, while One97 had pumped in $8.8 million to develop the product.

Currently a team of about 40 people, Gamepind is onboarding another 20-25 people to expand its portfolio of games along with attractive coupons and products.

Gamepind comprises casual games, contests, and sports games, combined with a rewarding and engaging winning experience for the end user. It claims to have 3 million active users in the seven months since its launch.

Meanwhile, the payments major had integrated its Inbox (in-app chat service) with a slew of daily engagement services such as live television, news, cricket, entertainment videos, and games to users within the messaging premise.

The development was reported by Mint.

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