Gurugram-based real-money gaming platform Zupee raised US$8 million (about INR 60.76 crore) in Sequence A funding spherical led by Matrix Companions India to increase the platform’s consumer base.
Different traders that participated on this spherical of funding embody Falcon Edge Capital, WestCap Group, Orios Enterprise Companions and Smile Group.
The web funding and advisory firm Smile Group had invested $1 million (approx. INR 6.9 crore) in seed funding of Zupee, final yr, and likewise incubated the startup since November 2018.
As per a report in ETtech.com, whereas commenting on the newest funding, Dilsher Singh Malhi, CEO of Zupee, mentioned that the funds raised can be utilised to not solely improve the consumer base of Zupee, but additionally to strengthen its expertise, staff and advertising and marketing.
Zupee was based in Could 2018 by IIT Kanpur alumni Dilsher Malhi and Siddhant Saurabh. It runs stay trivia and quiz tournaments for actual cash. As per their web site, they serve over 100 subjects for quizzes together with Bollywood, Hollywood, sports activities, Math and spelling. In addition they declare to host over 2000 quiz tournaments in a day and permit fast payouts into PayTM accounts of customers. The platform boasts of about 10 lakh customers on the web site.
Zupee, like many different gaming platforms together with on-line poker, rummy and esports platforms, have witnessed a progress in its consumer site visitors lately as customers are caught at residence because of the nation-wise lockdown imposed within the wake of the unfold of COVID-19. Subsequently, the funding obtained by the platform at the moment to spice up its advertising and marketing and technical efforts is well timed.
Just lately, Bengaluru-based HalaplayTechnologies Pvt. Ltd., operator of the fantasy platform Halaplay, additionally raised INR 2.94 Cr. from Delta Corp’s on-line gaming subsidiary Gaussian Networks (the corporate that operates Adda52) and Nazara Applied sciences. The fantasy platform, in contrast to Zupee, will use the funds to remain afloat amid postponement and cancellations of Indian Premier League 2020 and different stay sports activities occasions, on which the platform bases its video games.
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