[Funding alert] Vernacular gaming platform WinZO raises $65M in Series C round led by Griffin Gaming Partners
Delhi-based vernacular gaming platformon Friday raised $65 million in a Series C round, led by California-based Griffin Gaming Partners, taking the total tally of capital raised by the company to $90 million.
With this new development, Phil Sanderson, Co-Founder of Griffin Gaming Partners, will join WinZO’s board of directors. Griffin is making its first ever investment in India in WinZO.
This financing follows only eight months after the company raised its Series B from returning investors Makers Fund, Courtside Ventures, and Steve Pagliuca, Co-Chairman of Bain Capital.
With the funding, the startup expects to accelerate growth in the Indian Interactive Entertainment Industry.
Commenting on the investment, Nick Tuosto, Co-Founder, of Griffin Gaming Partners and Managing Director and Head of Gaming at LionTree stated,
“We are excited to make Griffin Gaming Partners’ first investment in India backing WinZO, the company behind the largest social gaming app in the country. The company is led by best-in-class management with an extraordinary product vision.
WinZo Co-Founders (L to R) Paavan Nanda and Saumya Singh
We saw in WinZO’s games incredible retention and monetisation metrics we believe set the company up for continued explosive growth and are proud to support the team on the journey.”
The startup claims that its revenue has grown tenfold over the last 12 months, and has partnered with over 100 leading game developers to realise the full potential of the Indian mobile gaming market through in-game integration of WinZO’s social gaming framework.
The platform is currently offered in 12 languages, unlocking demographics that have historically gone underserved.
“We are super excited to partner with the Griffin team. Their incredible experience and precious insights across the global media and entertainment landscape shall be valuable as we continue to disrupt the Indian gaming ecosystem. With this raise, we plan to grow much faster and become an even more lovable product for our consumers. WinZO is poised and strategically well positioned to be one of the first 'Made in India' products that will rule the world in coming years," said Paavan Nanda, co-founder, WinZO
Launched in early 2018, WinZO partners with third-party game studios to host their games on their Android app, creating a Netflix-like experience for users who can enjoy multiplayer formats with their friends or strangers in a localised fashion.
Clocking over 2.5 billion micro-transactions per month, WinZO offers 70-plus games across various multiplayer formats.
“WinZO’s growth is a testament to the value the company is unlocking in the Indian market. We are excited to continue to support WinZO and their leadership team who combine expertise and unique local insights with a strong vision to grow the Indian games and entertainment sector,” commented Michael Cheung, General Partner, Makers Fund.