Zupee, which one of India’s top skill-based gaming platforms, has acquired over $10 M. Until now, they have raised over $19M from preexisting investor Matrix Partners India and their new American investor WestCap Group. The WestCap Group is a growth equity firm that has raised the recent capital for Zupee.
It will be the second time during the last 12 months, Zupee has successfully received enormous funding. Over the $8 million that was raised in April 2020. The new funds will make Zupee grow by diversifying market reach, improving the user penetration rate, and revamping their platform for an outstanding user experience.
What is Zupee?
Zupee was established in 2018 by Siddhant Saurabh and Dilsher Singh Malhi, who are IIT-Kanpur graduates. Zupee is a unique gaming platform that allows users to participate in live quiz tournaments through their smart devices. It is a live trivia game that you can earn real money through. The quiz topics cover a wide range right from spellings, slang, movies to general knowledge and current affairs. Zupee is easy to use and offers a brilliant user interface along with a low entry barrier.
With over 5 billion mobile game downloads in 2019, India is undoubtedly the leader in this space. The Indian online gaming industry is projected to reach a whopping $14 billion by 2025. Zupee is proudly founded in India and sports an inclusive multicultural team with a global spirit.
What’s next for Zupee?
Founder and CEO of Zupee, Dilsher Singh, said that Zupee had some exceptional growth every month in 2020. He also believes that the new capital will fuel Zupee’s effort to scale their growth to accommodate their fast increasing user community. Singh further added Zupee is working towards bringing in more local language content, encourages connectivity, and making the “internet a place for productive engagement.”
Dan Fischer from the WestCap group believes in the vision that Zupee brings delightful competition to Indians. He also said that the WestCap Group is excited to “connect people in a meaningful way” and applauds the growth that Zupee has shown to date.
As India continues to be the biggest market for mobile gaming globally, Zupee is in a great position to grow into a market leader in the skill-based gaming niche. Founder and Chairman of Smile Group, Harish Bahl, appreciated the way Zupee has had exponential growth and how they have handled their business through the pandemic. He is excited to partner with Zupee and makes enormous strides for the development of Zupee, especially in a post COVID scenario.
Managing Director at Matrix India, Tarun Davda, pointed out that the pandemic has helped the Indian market for mobile gaming genuinely explode. Additionally, he also said that Zupee has shown “accelerated growth” during this year because of the Indian mobile gaming industry’s expansion. Being one of Zupee’s initial investors, Matrix India is excited to see what’s in store for them this year.