New Delhi-based e-sports gaming startup WinZO has raised US$ 18M in a Series B funding round held in September 2020, led by Makers Fund and Courtside Ventures along with participation from Kalaari Capital and Bellerive Capital.
WinZO’s founders- Paavan Nanda and Saumya Singh Rathore also chipped in US$ 6K each. Indigo Edge, Finadvantage, Swapna Gupta, Revant Bhate and Siddhartha Patel also invested US$ 0.18M jointly.
Capital raised will be used by the startup to improve its gaming content and reach out to mobile-first gamers.
WinZO was founded in 2018. The startup is one of the most pioneering gaming startups based in India whose revenue is growing at 1500%. It has also witnessed 20 million new user additions in the last 12 months. Post the declaration of lockdown, WinZO saw a 30% surge in traffic and 3 times growth in gameplays.
Its platform hosts almost 70+ games from third-party developers including carrom, cricket, bubble shooter, fruit samurai, knife up, memory mania, fantasy league, and trivia-based questions. Monetary benefits and rewards are also given to players who win. WinZO’s games are available in 12 regional languages due to which it has become popular in tier 2 and 3 Indian cities.
Michael Cheung, Partner at Makers Fund was quoted to say, “WinZO is at the heart of India’s gaming evolution, a geography we’ve been tracking for some time. Paavan and Saumya’s success through a hyper-focus on their player ecosystem is evident, and a clear asset as they accelerate their growth.”
The startup had previously secured US$ 5M in a Series A funding round held in February 2019 from Hike and Kalaari Capital.
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