MUMBAI: Purple Drop, a newly formed global interactive media company with its corporate headquarters located in Silicon Valley, was launched in south Mumbai on Thursday.
Specialising in end-to-end graphics solutions through a market-driven services, products & distribution strategy, Purple Drop's model combines expansive offerings in interactive entertainment technologies, R&D on demand, 2D/3D animation, CGI and SFX for the gaming, entertainment and commercial markets, according to a company press release.
Expressing his excitement at the launch, Ashok Desai, founder & CEO of Purple Drop, said: "The time has come for India to venture into radically new business opportunities. Purple Drop plans to leverage India's inherent technology strengths as well as the existing knowledge & expertise from the traditional business in entertainment & graphics and synergise it in charting a new paradigm for the industry in interactive entertainment and online gaming."
"Driven by the opportunity to participate in the $9 billion world-wide game industry, we are convinced that this focus will fuel unprecedented levels of innovation and technology advancements in the development of content which will enable Purple Drop to bring products and solutions to a whole new market opportunity," he further added.
Pentamedia Graphics has provided $4 million in seed funding and has permanently transferred a core team of trained professionals to Purple Drop. In addition, Purple Drop has IP rights for Pentamedia's graphics products as well as gaming rights for Sinbad and Pandavaas. Purple Drop will also have access to the state-of-the-art infrastructure base of Pentamedia Graphics and rights to an extensive selection of digital assets.
Speaking on the occasion of the launch, Dr V Chandrasekaran, chairman, Purple Drop and chairman & CEO, Pentamedia Graphics, Ltd., said: "Over the past year, we have seen Pentamedia Graphics forge compelling alliances and strategies to respond to the exciting needs of the entertainment industry. The launch of Purple Drop is a proof of our belief that the time is right to respond to this high-end graphics need as a focused entity."
