[Funding alert] Turnip raises $1.63M seed investment led by Elevation Capital
Elevation Capital has invested $1.63 million on live game streaming and community platform Turnip. In a press statement shared by the investor, it said Turnip plans to use the funds to expand its reach to millions of gaming communities by building a scalable and pioneering product. It added the startup also plans to recruit talented individuals who have a shared passion to build the future of gaming.
Founded in April 2020 by Aditya Sharma and Pooja Dubey, the app has 250,000 users and is a 12 member team.
Pooja Dubey, Co-founder, Turnip, said in the press statement: “The advent of the powerful smartphone and cheap data rates have pushed gaming into the spotlight. Whether it’s a 12-year-old learning to play chess, an Uber driver expressing his love for PubG, or working professionals bragging about their Among Us wins - the love for gaming knows no bounds."
"Tiding along with this transformative wave, we want to re-imagine community and interactions for gaming by creating a platform where mobile gamers can come together and share their love for gaming,” she added.
It added that the Indian mobile gaming market has 600 million+ gamers, who spend over an hour on their device each day, higher than the average of 45 minutes that is spent on OTT platforms like Netflix. The startup aims to transform India's gaming experience by empowering game streamers, esports players, and guilds to run interactive experiences for their communities.
“Gaming fans love watching their favourite creators, go out of their way to interact via YouTube paid-chats, and often dream about getting a shoutout someday. However, currently, these interactions are basic and limited. We believe that there is huge potential in enriching these engagements. This is where Turnip comes in to create an impact by transforming the way mobile gamers create, consume, and interact with live content," said Aditya.
The platform helps creators to seamlessly stream on YouTube, Facebook, and other platforms. It helps run interactive experiences for their communities and monetise the engagement. The company stated gaming enthusiasts can join communities of their favourite creators, discover all experiences being offered, and become a larger part of the show.
Commenting on the announcement, Vaas Bhaskar, Vice President, Elevation Capital said:
“Game Streaming in India has moved from being a niche sub-culture to very mainstream. However, the experience remains quite non-interactive and primitive. Pooja and Aditya are making game stream viewing more participatory for the mobile-first audience and we are excited to be in this journey with them.”