Total amount raised
$75 Millions
Latest funding date
3/1/2022
Location
Games24x7 has successfully raised significant funding over multiple rounds, establishing itself as a key player in the digital gaming industry. The company offers popular platforms like RummyCircle and My11Circle, which have garnered substantial user engagement.
Keep reading to explore the intricacies of Games24x7's fundraising journey and the investors backing this innovative platform.
What Is Games24x7?
Games24x7 is a digital gaming company that blends passion with a scientific approach to innovate and ensure timeless games remain relevant. The company offers popular platforms like RummyCircle and My11Circle, providing top-notch rummy and fantasy sports experiences.
Founded by Bhavin Pandya and Trivikraman Thampy, Games24x7 has grown significantly since its inception. The company is headquartered in Mumbai, India, and has a substantial workforce dedicated to enhancing the gaming experience.
With a focus on innovation and user engagement, Games24x7 continues to be a key player in the digital gaming industry, attracting millions of users across its platforms.
How Much Funding Has Games24x7 Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2006
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and develop initial gaming platforms.
- Venture Round
- Amount Raised: $75M
- Date: March 2022
- Lead Investors: Malabar Investment Advisors
- Valuation at Round: $2.5 billion
- Motivation Behind the Round: To accelerate user growth, content development, and technological capabilities.
Total Amount Raised: $75M
Current Valuation: $2.5 billion
Key Investors
- Malabar Investment Advisors
- Details: Malabar Investment Advisors is a prominent investment firm known for its focus on high-growth companies. They led the latest funding round for Games24x7.
- Investment Focus Areas: Online gaming, technology, high-growth companies.
- Notable Investments: Not publicly disclosed.
- Tiger Global
- Details: Tiger Global is a well-known investment firm that has backed numerous technology-driven companies. They are an existing investor in Games24x7.
- Investment Focus Areas: Technology, startups, high-growth sectors.
- Notable Investments: Not publicly disclosed.
- The Raine Group
- Details: The Raine Group is a global merchant bank focused on technology, media, and telecommunications. They have been a consistent supporter of Games24x7.
- Investment Focus Areas: Media, entertainment, technology.
- Notable Investments: Not publicly disclosed.
What's Next for Games24x7?
Games24x7 stands at the cusp of significant growth opportunities, driven by its robust user base and the burgeoning online gaming market in India. With over 100 million users and a recent $75 million funding round, the company is well-positioned to expand its gaming portfolio and penetrate international markets. The focus on accelerating user growth and launching new games aligns with industry trends favoring online skill gaming and fantasy sports.
Future fundraising appears promising, given the positive investor sentiment and the company's strong performance metrics. The involvement of prominent investors like Malabar Investment, Tiger Global, and Raine Group suggests that additional rounds of funding could be on the horizon to support further expansion and technological advancements.
However, Games24x7 may face challenges such as intense competition, regulatory hurdles, and the need to maintain high user engagement. Navigating these obstacles will be crucial for sustaining growth and meeting investor expectations. The company's ability to innovate and adapt will determine its long-term success in the dynamic online gaming landscape.
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