Alibaba Backed UCWeb Announces $20M Fund for Indian Gaming Startups
As per reports, the Indian gaming industry currently has 250 game developers and the gaming market in India will grow to $571.6 million at 134.5 per cent compounded annual growth rate (CAGR) this year. According to Robert Bu, general manager for UCWeb India, the Indian gaming market is poised to grow nearly five-fold in three years – from $416 million in 2015 to $2 billion in 2018.
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Alibaba-backed UCWeb, maker of UC Browser, has announced the launch of a $20 million funding program for Indian startups producing games and apps. The announcement was made at the PocketGamer Connects conference in Bangalore under UCWeb’s accelerator program ‘9 Apps Dev’.
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