India-based mobile gaming platform, Zupee raised funding of US$ 10M on 11 January 2021. The total funding raised by the company stands at US$ 19M.
Investors: The funding round was led by WestCap Group (“WestCap”), a US-based growth equity firm, with participation from existing investor Matrix Partners India. Zupee had raised US$ 8M in its first round of funding in April 2020.
What the funding is for: The funds will be utilized towards further scaling up and expanding market reach. Zupee aims to enhance user penetration on its platform and focusing on delivering a rewarding user experience.
Founded in 2018 by IIT-Kanpur graduates, Dilsher Singh Malhi and Siddhant Saurabh, Zupee is a real money gaming startup. It lets you pick any topic that you like and play the tournaments along with other players and win real money. The topics range from Bollywood, Hollywood, Sports, Education, Cities and Capitals and many more. Users can play live quiz tournaments on their smartphones. The winning prize money pool is distributed among the winners and can be cashed out instantly through Paytm.
In the year 2019, India saw more than 5 billion mobile game downloads. The online gaming market has been growing at a rapid pace annually and is expected to reach US$14 billion by 2025. Zupee is set to capture this market with its exciting games and tournaments.
What the CEO has to say
“We have driven exponential month-on-month growth this year. This fresh round of funding enables us to double down on our scaling efforts. We remain committed to delivering a fantastic user experience for our rapidly expanding user community. Bringing joy and making each moment count is what truly propels us forward in doing our bit towards bringing the next billion online solving for connectivity, local language content, culture and keeping the internet a place for a productive engagement,” said Dilsher Singh, Founder and CEO of Zupee.
What Investors have to say
“Zupee is delivering a product that delights mobile users in India. Zupee provides a fun and fair competition that connects people in a meaningful way and its industry-leading growth is a testament to the team’s vision. We are excited to partner with Dilsher and the entire Zupee team as they continue to rapidly scale,” said Dan Fischer of WestCap.
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