[Funding Alert] Hike raises additional funds for Rush Gaming Universe from Jump Crypto, Tribe Capital, and Republic Crypto
Hike intends to use the funds raised to develop unique product strategy in the Rush Gaming Universe (RGU) — a social gaming metaverse where players can play, compete, and win.
Social platformannounced today that it has raised an undisclosed amount in a funding round led by Web3 investor Jump Crypto.
Tribe Capital and Republic Capital’s Republic Crypto were also part of the funding round.
The company intends to use the additional funds raised to develop unique product strategy in the Rush Gaming Universe (RGU) — a social gaming metaverse where players can play, compete, and win. The funds will also be used to expand the team.
Kavin Bharti Mittal, Founder & CEO, Hike said, “We are thrilled to welcome Jump Crypto, Tribe Capital, and Republic Crypto as investors who share our vision for the impact Gaming + Web3 can have on the world.” Kavin did not disclose the funding amount. Kavin did not disclose the funding amount.
“Gaming to us has always been bite-sized entertainment and now it can also be a means to provide brand new economic opportunities to the world. India being a mobile-first market needs a unique approach and our years of building for this market help tremendously in building a seamless user experience to bring the next billion users on-chain. We’re incredibly excited about the future.” added Kavin
Previously, the company partnered with Polygon the Ethereum scaling solution to develop Rush Gaming Universe.
The firm claims that in the last 13 months, The Rush Gaming Universe has engaged with 160 million quarterly gameplays and has 1.8 million monthly active users (MAUs).
Saurabh Sharma, Partner at Jump Crypto, said "Hike’s Rush Gaming Universe is an exciting development for emerging markets like India and it’s their unique mobile-only vision with a focus on building a seamless web3 user experience for the next billion users that’s incredibly exciting.”
Earlier in January 2021, the company raised funds to develop the Rush Gaming Universe, and investors including Polygon led the round to support Hike's Rush Gaming Universe. With RGU on-chain via the Polygon network, users were able to access game assets (represented by NFTs) several Play-to Earn, and GamiFi mechanics. This investment accelerated the company's growth.
Edited by Affirunisa Kankudti