WinZO Games, a local gaming platform headquartered in Delhi, India, announced the completion of an $18 million Series B financing, co-led by Singapore-based Makers Fund and New York-based Courtside Ventures, with participation from investors For Kalaari Capital and Bellerive Capital, which have previously invested in the company, as well as Indigo Edge, Finadvantage, Swapna Gupta, Revant Bhate and Siddhartha Patel, this is also the company’s second infusion of new funds after a lapse of 13 months, and its valuation has also increased. It rose to 46-47 billion rupees.
According to disclosed regulatory documents, Zhudao Capital learned that Maker Fund injected 600 million rupees in this round of financing, while Courtside Ventures invested 425 million rupees. Existing backers – Kalaari Capital and Bellerive Capital invested Rs 7.5 million each. The two co-founders of WinZO app, Paavan Nanda and Saumya Singh Rathore, invested Rs 50,000 each, while Indigo Edge, Finadvantage, Swapna Gupta, Revant Bhate and Siddhartha Patel also invested Rs 137 crore.
Founded in 2017, WinZO game app is a gaming marketplace where they acquire games from developers and publish them to users through their platform. The platform currently has 30 game developers, 70% of whom are Indian and the rest are from overseas. WinZO platform games support 12 local languages, with more than 25 million registered users, and the platform claims to have more than 1 billion small transactions per month.
At this stage, WinZO’s main competitors include Rummycircle, Rummybaazi, Dream11, MPL and some other companies.
Indian gaming platform WinZO Games completes $18 million in Series B financing
