Pixel P&L: Gaming VC Firm BITKRAFT Doubles Down on India Following Regulatory Clarity

Welcome to another Pixel P&L edition. This issue takes 5 minutes to read. If you only have one, here are the 5 most important things:

• BITKRAFT Ventures expands India gaming investments following regulatory clarity.

• Saudi Arabia's Qiddiya acquires Evo co-owner RTS in latest esports mega-deal.

• Demon Slayer: Infinity Castle gets unprecedented 750-screen India release, testing if anime can go mainstream theatrical.

• Paramount signs a deal with Activision to develop a Call of Duty movie.

• Former Polygon writers launch Rogue, a worker-owned cooperative gaming site that ditches ads for subscriptions. 

Let's get into it.

Venture Firm Expands India Gaming Investments as Regulatory Changes Take Effect

BITKRAFT Ventures, a gaming-focused venture capital firm, said it will expand investments in India's gaming sector following the government's ban on online money gaming, citing improved regulatory clarity for institutional investors.

The firm plans to target original intellectual property development, gaming infrastructure, and interactive media platforms that align with India's new compliance requirements. The regulatory changes prohibit online money gaming while promoting esports and mobile-first casual games.

"The new proposed framework on the online gaming bill not only enhances investor confidence but also creates a more stable and supportive environment for institutional global investors like BITKRAFT to double down on opportunities across game studios and interactive entertainment in India," said Anuj Tandon, Partner, India & UAE at BITKRAFT Ventures.

BITKRAFT recently led a $5.4 million pre-seed funding round for GameRamp, an AI-powered mobile gaming platform. The firm has also invested in Indian companies including Stockgro, Mythik, and Lila Games.

Saudi Megaproject Qiddiya Fully Acquires Fighting Game Tournament Operator

Saudi Arabia's Qiddiya entertainment megaproject has completed its acquisition of RTS, best known for operating the Evolution Championship Series, one of the world's largest fighting game tournaments.

The deal, announced by Qiddiya Chief Strategy Officer Muhannad Aldawood on LinkedIn, follows an August investment in the esports company. RTS, founded in 2022, serves as both Evo's operator and a talent management consultancy for the gaming industry.

"This milestone paves the way for setting new heights in the evolution of Evo toward achieving the aspirations of the fighting game community," Aldawood said.

The acquisition strengthens Saudi Arabia's growing esports presence through its Vision 2030 diversification initiative. Qiddiya, backed by the kingdom's Public Investment Fund, has secured partnerships with PUBG Mobile and hosts the Esports World Cup.

RTS previously co-owned Evo with Sony Interactive Entertainment, which sold its stake to India-based esports company NODWIN Gaming in August. Under the new ownership structure with Qiddiya and NODWIN Gaming, the tournament is expanding globally, with events planned for France in October and Singapore in 2027.

🎬 On Our Radar: Anime's Theatrical Breakthrough in India

Could Demon Slayer shatter anime's box office ceiling in India?

Demon Slayer: Infinity Castle's unprecedented 750-screen September release marks anime's boldest bid yet for mainstream Indian theatrical success.

The stakes are significant. Suzume currently holds the Indian box office record at ₹10+ crore, while previous Demon Slayer films peaked at ₹6.5 crore. But Infinity Castle enters with powerful advantages: $300+ million in global momentum and, critically, Hindi, Tamil, and Telugu dubs that earlier releases lacked.

The distribution leap is equally dramatic. Anime films traditionally languished on 50-100 metropolitan screens. At 750 screens nationwide, Infinity Castle finally receives blockbuster-level treatment, potentially establishing a template for future releases.

Success could position India as a reliable ₹15-25 crore market for major anime films. While modest by Bollywood standards, this represents meaningful industry growth. Early indicators are promising: 600,000 users have already registered interest on ticketing platform BookMyShow.

The real test will be converting this enthusiasm into actual ticket sales.

⚡️Quick Bytes

Paramount Signs Deal for Call of Duty Movie

Paramount signed a deal with Activision to develop a live-action movie based on the Call of Duty video game franchise. The partnership will see Paramount develop, produce and distribute a feature film based on the 22-year-old gaming series, though financial terms weren't disclosed. The agreement may also encompass television projects.

Former Polygon Writers Launch Worker-Owned Gaming Site

Seven former Polygon writers launched Rogue, a worker-owned cooperative gaming website that operates without advertisements. The subscription-based site offers free news and guides, with premium content at $7 monthly. Founders include Alice Jovanée, Cass Marshall, Jeffrey Parkin and Ryan Gilliam, who left traditional media to avoid algorithm-driven content demands.

⚔️Side Quest

📺 Watch: With TI Dota 2 championships 2025 kicking off tomorrow, dive into esports history with True Sight: The International 2018. This gripping documentary captures two teams battling for $25 million, revealing the intense pressure and human drama behind professional gaming. No Dota knowledge needed, just pure competitive storytelling that'll prime you for tomorrow's action.

🎮 Play: Clank! offers a polished digital adaptation of the beloved dungeon-crawling deck-builder. Perfect for solo players seeking strategic depth, with AI handling all setup hassles. Great on Steam Deck for local co-op sessions. 

📚 Read: This Ars Technica analysis reveals how today's consoles defy decades of pricing history. While classic systems dropped to half-price within three years, modern consoles like the Switch and PS5 stubbornly maintain near-launch pricing. Data shows we're paying hundreds more than historical trends suggest.

💡Did You Know

Baldur's Gate 3 has now sold 3 copies in Vatican City, meaning 0.39% of the Holy See's 764 residents own this epic fantasy RPG. Larian's publishing director Michael Douse humorously speculated that the Pope himself might have purchased the latest copy, drawn by the game's buzz and award-winning reputation. 

📜 Quote of the Day

Was this forwarded to you? Sign up for free here. 

We read every email! Share your feedback by hitting reply.