Web3 game discovery and wallet app Glip raises $2.5M
Bengaluru-based Glip will be deploying the funds to expand its 10-member team, launch new product features, and grow its community globally.
Bengaluru-based startup , which offers a global Web3 game discovery and wallet app, has raised $2.5 million in a Pre-Series A funding round led by Hashed Emergent, with participation from Beenext and existing investor Prime Venture Partners.
Glip aims to bring millions of gamers to Web3 and continues to onboard Web3 games like Axie Infinity, League of Kingdoms, and KOF Arena by Netmarble to boost user acquisition and engagement.
The startup will be deploying the funds to expand its 10-member team, launch new product features, and grow its community globally. In addition, it maintains a zero-marketing-burn strategy to remain lean.
Tak Lee, Managing Partner, Hashed Emergent said,
"Currently, there are two major challenges in Web3 gaming—lack of distribution channels and complex user onboarding. The team at Glip has built a seamless platform to solve for both. We are impressed by the team's agility, foresight and speed of execution, and are excited to partner with them on their journey to build the 'Steam' equivalent for Web3 games."
CEO and Co-founder Parth Choudhary said, "With $10 billion already deployed, Web3 games are increasing rapidly and getting better by the day, but they are all struggling with user acquisition on Web2 platforms. Our mission is to build the world's largest Web3 gamer platform."
Glip offers a live platform with over two million active users, according to the startup. Although the team is India-based, it caters to a global audience. To date, the Web3 startup has secured $6 million in funding through various rounds. Its seed round noted participation from Prime Venture Partners, Better Capital, iSeed, and various angel investors.
The startup’s Android app has over seven million downloads across India, Southeast Asia, and Brazil. It offers gamers new Web3 games and tutorials, along with tournaments and quests. Users also get a social login, non-custodial, multi-chain, and gasless wallet as soon as they log in to the app.
Ishan Shrivastava, COO and Co-founder of Glip, added, "We have a pipeline of 100+ games across the world including top publishers. They are all excited by Web3 adoption in emerging markets and will soon get a self-serve dashboard to run campaigns, user feedback, and analytics. Glip will soon cross 100,000 monthly active Web3 gamers."
Edited by Kanishk Singh