Lumikai, a venture capital firm in India’s interactive media and gaming ecosystem, has officially closed its second fund as it celebrates its five-year milestone in the industry. Fund II, which was launched back in mid-2023, targeting a $50 million corpus, is now fully raised and ready for deployment.
Lumikai has welcomed a diverse cohort of startups into Fund II’s portfolio, including:
- QuriousBit Games – a next‑generation puzzle gaming studio, backed by 2 million seed investment from Fund II.
- Frammer AI – Frammer AI cuts out hours of manual editing and laborious tasks, freeing up your teams for more creative assignments.
- AskMyGuru – A spiritual‑tech platform blending AI, gamification, and Indic cultural systems; Lumikai led a $1.2 million seed round with an $800K stake.
- Mayhem Studios – an arm of Mobile Premier League (MPL), developing the culturally infused AAA battle‑royale Underworld Gang Wars; Lumikai’s investment supports its open beta push, following over 7 million pre‑registrations.
- AutoVRse – A provider of enterprise-grade virtual reality training solutions. Their flagship product, VRseBuilder, empowers organizations to create, deploy, and optimize immersive VR training experiences at scale.
- Vobble – The ultimate audio universe for kids, where they not only listen to their favourite characters — but play interactive games, create stories, and even chat with them about things they love – all through a nifty audio pocket player!
According to Deloitte India and Lumikai’s own research, the interactive media industry in India is on track to become a $30 billion market within the next 5–7 years, driven by rapid growth in gaming, anime, VFX, and related content sectors.
In 2023, Lumikai’s Fund II secured commitments from global heavyweights including Krafton, Mixi, Colopl, Supercell, alongside alumni from Fund I like Nazara, and notable individuals from the gaming and investor community.
Lumikai’s recent closing of Fund II underscores that “this isn’t the finish line; it’s the next starting block”, as per their LinkedIn announcement.
