[Funding alert] Gaming startup Zupee raises $10M from WestCap Group
Skill-based mobile gaming platformon Monday raised additional capital of $10 million led by WestCap Group (WestCap), a leading US growth equity firm. Existing investor Matrix Partners India also participated in the round.
According to the official statement, the startup has so far raised $19 million in funding including this round.
The fresh fund will go towards further scaling up the venture, expanding market reach, enhancing user penetration for Zupee's platform, and focusing on delivering an exceptional and truly rewarding user experience.
This is the second round of funding successfully secured by Zupee within the last 12 months - with $8M raised in April 2020.
Speaking about the new development, Dilsher Singh, Founder and CEO, Zupee, said,
“We have driven an 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 productive engagement,” added Dilsher.
Founded by IIT Kanpur graduates Dilsher Singh Malhi and Siddhant Saurabh in 2018, Zupee runs live quiz tournaments on its app where users compete with friends and other players for prizes.
Zupee's Founders (L-R): Siddhant Saurabh and Dilsher Singh Malhi
The Zupee app has more than 2,000 live quiz tournaments running through 24 hours every day, covering over 100 topics that range from Bollywood, Hollywood, and Sports to Maths, Spelling, and Hinglish, among others.
Commenting on the investment, Dan Fischer of WestCap stated,
“Zupee is delivering a product that delights mobile users in India. The platform provides 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.”