A venture capital firm focused on interactive media and gaming in India.

Lumikai

We are India's first gaming & interactive entertainment venture fund. We catalyse game-changing, early stage founders building the future of gaming and interactive media.

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Lumikai Fund

TechCrunch recently reported that at the Augmented World Expo, Snap unveiled a real-time, on-device image diffusion model for AR experiences, which is small enough to run on smartphones and can re-render frames in real time. This advancement aims to give users faster, vivid and impactful augmented reality experiences.

With over 300 million users interacting with AR daily on Snap and 70% of users engaging with AR within the first time they use the app, the impact real-time AR innovation will have is clear.

Lens Studio 5.0 was also announced at the event, featuring generative AI tools to speed up AR effect creation and enhance opportunities for AR creators as well.

AR creators can now generate realistic selfie lenses with ML face effects and even 3D assets in minutes. They can also create characters with text or image prompts using Face Mesh technology. The new Lens Studio also includes an AI assistant for creator support.

At Lumikai, we support frontier innovations like AR that deliver impact to not only users but also to creators.

If you're building in this space, get in touch with us at hello@lumikai.com. 
We would love to hear from you.

You can read more about Snap’s new announcement at: https://lnkd.in/gXswqhsi

Welcome to ‘Lumikai Rearview’, where on the first Monday of every month, we shall explore a notable partnership or investment deal in the interactive media landscape from the past. A longish post, to take a break with to beat the Monday blues. 

As VC’s, we often focus on the future, however understanding the history is equally critical. Join us as we delve into some of the deals and partnerships that have shaped our industry.

Today we revisit Walmart's transformative collaboration with Eko and how their innovative approach to interactive media has reshaped customer engagement and set new standards in retail.

India is rapidly transitioning from a need-based economy to a want-driven one. In 2023, the country's smartphone market shipped 146 million smartphones.

While sub-$200 smartphones have significantly contributed to expanding digital access across India, the average selling price reached a record high of $255 in 2023, marking a 14% year-over-year increase, showcasing a growing appetite for premium and higher quality devices and willingness to spend on the same.

For a young nation, where aspiration drives consumption, these devices enable high-quality social and interactive experiences for users, that often serve as a point of gratification.

As an interactive media fund, we are eager to witness the evolving consumer behaviours of a mobile first digital economy.

A recent Venture Beat article has reported about Another Axiom's Gorilla Tag and it’s numbers. The game is now played by 10 million VR players and is generating $100 million in revenue.

The game's metrics, including peaks of 3 million monthly active users and 1 million daily active users, underscore the strong engagement and retention driven by its social multiplayer gameplay. On average, play sessions last nearly 60 minutes, reflecting deep user engagement.

The key to Gorilla Tag’s success, as COO David Yee hints at, is the social aspect of it. With Gorilla Tag being perceived by its users as a “digital third place,” users come back to socialize and hang out. It is important to understand that user behaviour in VR is slightly different where users not only look at VR from a gaming perspective but also from a social angle and the opportunity lies in creating such digital third places.

With teens rapidly adopting VR, games like Gorilla Tag are becoming popular for socializing and hanging out with friends. According to Piper Sandler's Spring ‘24 survey, 13% of U.S. teens now use VR devices weekly, up from 10% in Fall '23. Additionally, 33% of teens surveyed now own a VR device, highlighting their faster adoption rates compared to adults.

At Lumikai, we see secular momentum in growing consumer adoption of VR gaming and the potential for social VR experiences through innovative gameplay.

If you see interesting trends at the intersection of VR and gaming, do share in the comments below.

You can read more about Gorilla Tag here: 
https://lnkd.in/g6UrDgv3

You can read the Pipe Sandler report here: https://lnkd.in/ga_mgndh

As highlighted in a recent Economic Times article, the rise of interactive homegrown platforms in India marks a significant shift, with creators increasingly favouring regional apps over global giants like Instagram and YouTube.

This trend is driven by the ability to monetise content through virtual gifting, which has proven to be a lucrative income source for Tier 2 and beyond India.

Creators from diverse backgrounds, including singers, comedians, and motivational speakers, are earning through microtransactions and digital collectibles, creating a new paradigm for content monetisation.

Eloelo exemplifies this trend, offering creators a safe and engaging platform where they can connect personally with their audience. With over 3.2 million live streams monthly, Eloelo has built a robust community where users actively participate through virtual gifts and in-app purchases.

This direct monetisation approach, has allowed many creators to thrive. For instance, creators on Eloelo are not only earning significantly but also funding their education, highlighting the platform's impact on their lives.

Eloelo’s consistent rank between No.1/No. 2 in the Google Play Store's entertainment category in India underscores its popularity and effectiveness.

At Lumikai, we are pleased to have been early backers of Eloelo, recognising the platform's potential to transform content creation, consumption and monetisation in India.

We continue to seek and support disruptive ventures in the interactive media landscape.

If you are building something interesting in this space, we would love to hear from you. Drop us an email as hello@lumikai.com.

You can read more about this at : https://lnkd.in/dX8AH4hP

🚨 Hiring Alert! 🚨

The interactive media market in India is a mammoth $12Bn+ industry. If new media excites you, we have some good news for you. Some of Lumikai’s portfolio companies are hiring.

Do apply if you want to leave a mark in the frontier media economy.

Eloelo:
Lead Product Designer (On-Site) - https://lnkd.in/g2pTbZmK
Lead Product Designer (UX) (On-Site) - https://lnkd.in/gDQwDhuV
Product Analyst (On-Site) - https://lnkd.in/gmfjhdY8
Senior Manager - Performance Marketing (On-Site) - https://lnkd.in/gRpA6ApW

Bombay Play:
Lead Product Manager - https://lnkd.in/gq8syMMq
Product Manager - https://lnkd.in/darMAjyc
Game Designer - https://lnkd.in/ggP66_sw
Dev Ops Engineer (Hybrid) - https://lnkd.in/gydyzcmE

AutoVRse:
Senior Game Developer - https://lnkd.in/gMb5Q5BU
Full Stack Web Developer (VR/3D) (On-Site) - https://lnkd.in/gAVcfwBp
Lead Software Engineer (VR/AR) (On-Site) - https://lnkd.in/g-NfhaVg

Vobble:
Full Stack Developer - MERN Stack (On-Site)- https://lnkd.in/greK74_N

Supernova - An AI Tutor For Every Child:
Business Development Manager (On-Site) - https://lnkd.in/gNRwjCkB

To find out more job opportunities, visit the company website or their LinkedIn pages.

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