Gaming platform Zupee raises $30 mn in Series B funding at $500+ mn valuation

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Zupee

Zupee, a gaming platform, has raised $30 million in a Series B fundraising round, valued at $500 million pre-money. This round of fundraising was co-led by Silicon Valley’s WestCap Group and Tomales Bay Capital, with Matrix Partners India and Orios Venture Partners also participating.

This round comes just six months after the firm raised $100 million in its Series A round, representing a more than 5x rise in the company’s worth. Zupee is backed by some of the greatest in the industry, including WestCap Group, Matrix Partners India, Smile Group, and Orios Partners, with a total funding of $49 million. The company already has a user base of over 10 million people.This new round of funding will be used to enable scaling efforts through expanded product portfolio, deepening market reach and hiring global talent.

Founded in 2018 by graduates of India’s leading institution IIT Kanpur, Dilsher Singh and Siddhant Saurabh, and incubated with funding from Smile Group, Zupee innovates by reengineering time-tested games and enabling them to enhance skill, joy, and hope. The company’s portfolio has innovative gaming formats of multiple popular board games. The flagship gaming app hosts live trivia quiz tournaments and has seen over 250 million game plays.

Dilsher Singh, Founder and CEO, Zupee said, “Games inherently celebrate the journey and nurture self-expression. That’s what I am committed to building with Zupee – an organization which enables people anywhere in the world to enhance their intrinsic happiness through games. We innovate to ensure our games provide an intersection between skill and entertainment, enabling our users to earn while they play. We thank our investors for believing in our purpose and enabling us to progress on our journey to transforming it to reality. Our journey has just begun; 10 million happy users in India, billions more globally we want to touch through our innovative games.”

WestCap remains a key strategic investor and operating advisor to Zupee, and we are increasing our interest again as part of this most recent funding round”, commented Laurence A. Tosi, Founder and Managing Partner of WestCap and early investor in Zupee. “Dilsher and his world-class team have innovated some of the most compelling and widely used mobile games of skill in India. The enduring appeal of the Zupee games brings engagement, enjoyment, and empowerment to the widest audience of any gaming platform in the market. This funding will enable the Zupee team to invest further in innovation, expand its suite of games and aggressively pursue international expansion. Zupee has exponentially accelerated its growth over the last 12 months, making them one of the largest and fastest growing game companies globally.”