WinZO, a vernacular gaming platform with monetary benefits, announced it has raised $18 million in Series B round of funding. The round was led by Makers Fund, a Singapore-based global interactive entertainment fund, and New York-based Courtside Ventures, as per ETtech report.
The current investment from both the funds turns out to be their first such investment in India. Existing investor Kalaari Capital , who led the company’s Series A funding round in 2019, also participated in the funding round.
Other investors Revant Bhate, FinAdvantage, Indigo Edge, and co-founders Paavan Nanda and Saumya Singh Rathore also took part in the funding round.
WinZO will use the funds to strengthen its content pipeline and go after mobile-first consumers and their gaming needs, it said. Revenues have grown many-fold and it has added 20 million users in the last 12 months, a majority of whom spend over 45 minutes daily on the platform.
“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,” said Michael Cheung, Partner at Makers Fund. The company said it has grown on the back of its dense network of regional language micro influencers and over 30 partner game developers.
“Along with their network, support and fresh financing, we are confident we can propel WinZO even further as a business and become an even more lovable product for our customers. It’s time to put all the learnings and experiences of the past toward building something huge,” said Paavan Nanda, co-founder, WinZo.
“Mobile gaming is a large opportunity in India, and in a short span of time, WinZO has built a high-quality vernacular gaming platform for the masses. We are really proud of their progress and their superior metrics (retention, time spent, etc.) that are a true reflection of customer experience,” said Rahul Garg, Principal at Kalaari Capital.
Founded by Paavan Nanda and Saumya Singh Rathore, WinZO offers nearly 70+ games including carrom, cricket, bubble shooter, fruit samurai, knife up, memory mania, fantasy league, and trivia-based questions. These games are acquired from developers and studios across the world. The platform is available in 12 languages with over 25 million registered users.
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