Mumbai: STAN, headquartered in Bengaluru, is one of the fastest-growing gaming startups. The platform is having the largest gaming community in Asia with over 4M gamers onboarded. STAN's goal is to create an ecosystem for gamers where every victory matters, where rewards are more than just tokens – they're the embodiment of dedication and prowess, and these gamers find a sense of belongingness.
Recently, STAN reached a significant milestone in its journey, securing a remarkable $2.7 million in Pre-Series A round funding. This investment, spearheaded by their partner General Catalyst, along with esteemed new investors including Aptos Labs, Pix Capital, Maelstrom Fund, and GFR Fund, underscores the unwavering belief in their vision to redefine gaming experiences. India's gaming ecosystem is undergoing a renaissance of unparalleled magnitude. With 500 million active gamers, 200 million enthusiasts, three million monthly transactions, 5500K MAU, and 650k+ DAU, ready to elevate their experiences, STAN has also been part of various leading events across the world - Abu Dhabi - Token 2049 - Premium Crypto event being the latest event. STAN has disbursed over 30 Lakhs worth of rewards to its engaged audience.
India has always been a mobile gaming first nation unlike other countries. Driven by the widespread embrace of smartphones and expanded internet access, India's gaming sector has experienced rapid growth, drawing in a diverse audience. The accessibility of budget-friendly smartphones and affordable mobile data has been pivotal in propelling the popularity of mobile gaming across various demographics. India has surpassed the US and Brazil in terms of mobile downloads. India has 568 million online gamers. Despite the number being great, the gaming industry has always felt a void in terms of people not knowing the right career opportunities.
The rise of online gaming has not only captivated millions but also catalysed economic growth, employing over 100,000 skilled professionals in 2023 alone. As we gaze into the horizon, the sector is poised to generate over 250,000 more jobs in the coming decade, heralding a new era of prosperity and innovation.
With gaming influencers on the rise and various sources of income open to them, Indiantelevision.com caught up with STAN co-founder Parth Chadha where he explained how the Indian gaming industry has gone on a different trajectory.
Edited excerpts
On elaborating STAN's vision for creating an ecosystem where every victory carries profound significance, going beyond mere tokens to embody dedication and prowess
STAN aims to celebrate every win, ensuring it resonates beyond the game itself. Our brand works on this vision through key features such as interactive and social games where game enthusiasts can play, chat, and win in a dynamic environment that celebrates victories socially, fostering community engagement for game enthusiasts. By allowing users to interact with their favorite gaming creators and discover new groups, STAN guarantees each victory is shared. Playing with favorite creators amplifies enthusiasm and provides status, allowing gamers to have interaction and compete along famous gaming creators.
On planning to capitalize on this burgeoning market to redefine gaming experiences with India's gaming sector experiencing unprecedented growth and boasting a massive user base
As the Indian gaming sector is witnessing phenomenal growth with a massive user base, STAN plans to capitalize on this emerging market by redefining gaming experiences through multiple platforms. There is a significant white space in the market where gamers seek life experiences and communities that facilitate meaningful connections with like-minded individuals in addition to seeking guidance from senior gamers from where they can learn from them and grow.
STAN aims to meet this need by bringing together all stakeholders, and providing an environment that supports social networking, mentoring and skills development. By creating a platform where players can interact, compete, and collaborate with each other and their favorite gamers, we ensure a seamless and smooth gaming experience. This approach not only enhances the game journey for users, but also creates a win-win situation for all participants in the ecosystem, and ultimately redefines the game experience.
On sharing insights into the recent milestone of securing $2.7 million in Pre-Series A round funding
STAN recently reached a milestone by raising $2.7 million in Pre-Series A funding from major investors such as Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, and General Catalyst. The recent funding from The New Capital, led by General Catalyst with participation from Better Capital and Eximius Ventures, will be strategically utilized to enhance our business. This investment will allow us to provide gamers with advanced tools to develop and monetize their content. These enhancements include digital collections, chat, social communities, and celebrity exclusives. This funding will allow STAN to continue to innovate and expand, ultimately providing a rich and enjoyable experience for our users.
On synergies you anticipate from General Catalyst
Having strong partners and investors like General Catalyst and Better Capital on board will further enhance STAN’s aspirations to create a superior fan experience and drive growth at various levels. As General Catalyst's first Web3/Crypto investment in India, we expect valuable synergies, including strategic direction, improved reliability, and greater productivity, all of which will accelerate the development and expansion of our platform.
On differentiating yourself in a crowded gaming market, particularly amidst the rise of mobile gaming and increased competition
STAN differentiates itself in the crowded gaming market by being a user-friendly platform akin to Discord, tailored specifically for India and emerging markets. Our mobile-first design ensures gamers can connect anywhere with cutting-edge technology. STAN facilitates friendships and gaming groups, helping players find like-minded individuals, and rewards them for their contributions, enhancing their experience. We empower creators with global reach, specialized tools, and insights for audience engagement. Additionally, STAN supports developers with effective go-to-market strategies and user testing for game refinement, while offering brands access to a global gaming community, tools for monetizable communities, and actionable insights for strategic decisions.
On collaborations with Chill gamers and participation in leading global events
STAN offers any creator to build his community on STAN where it's not just a mere community for a creator but also offers PR, Branding, and any help that they might need to progress as a creator. For example, STAN helped Arun aka Achanak Bayanak Gaming and Chill Gamer to get into Bigg Boss and PlayGround respectively. Our branding in the gaming and entertainment space is well known, we leverage this to get brand deals, networks, and opportunities for our creators
On opportunities you offer for aspiring gamers in terms of early monetisation and community building
For those who want to create, STAN offers opportunities to monetize quickly and build community. While our main focus has been on enhancing the user experience and maximizing integrated game design, we have also prioritized enabling monetization and rewards for both users and creators. Our efforts have resulted in a significant increase in gross collection by over 10x. Recognizing the challenges creators face in monetizing their content in the Indian market, we aim to tap into the creator supply, helping them grow their fanbase and monetize from Day 1.
On catering to the evolving preferences and needs of audience
At STAN we are building communities for everyone. There are many female gamers on STAN and we see this number grow every day. Few dedicated communities on STAN cater to female audiences’ needs on the platform. There are several clubs and tournaments dedicated to females on STAN. We are also expanding our creator program to focus on female audiences and creators as well
On STAN's plans for further expansion, innovation, and enriching the gaming experience for its users
Looking ahead, STAN plans to further expand and innovate by building a comprehensive companion application for gamers in emerging markets. We aim to provide unprecedented experiences and solutions to their issues. By bringing all stakeholders in the gaming ecosystem together on one platform, we strive to create a win-win situation for everyone involved. Currently hosting 10,000 creators, we target to reach 100,000 in the next six months, enriching the gaming experience for our users.
