Total amount raised
$121 Millions
Latest funding date
1/1/2022
Location
Zupee has successfully raised significant funding through multiple rounds, including a Series B. The platform specializes in real money-earning skill-based games, attracting a diverse range of investors.
Keep reading to explore the intricacies of Zupee's fundraising journey and the investors backing this innovative platform.
What Is Zupee?
Zupee, founded in 2018 by Dilsher Singh and Siddhant Saurabh, is an online gaming company based in Gurgaon, Haryana, India. The platform specializes in real money-earning skill-based games, offering a variety of engaging formats for popular casual and board games. With a team of 101-250 employees, Zupee continues to innovate in the gaming industry, providing secure transactions and instant withdrawals for its users.
How Much Funding Has Zupee Raised?
- Seed Round
- Amount Raised: ₹69M
- Date: April 2019
- Lead Investors: Smile Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial product offerings.
- Series A
- Amount Raised: $8M
- Date: April 2020
- Lead Investors: Z47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Series A
- Amount Raised: $10M
- Date: January 2021
- Lead Investors: WestCap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase user acquisition.
- Series B
- Amount Raised: $30M
- Date: August 2021
- Lead Investors: Tomales Bay Capital, WestCap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop new products and expand into new markets.
- Series B
- Amount Raised: $72M
- Date: January 2022
- Lead Investors: Nepean Capital
- Valuation at Round: $600M
- Motivation Behind the Round: To enhance immersive design experiences and ramp up marketing.
Total Amount Raised: $120M
Current Valuation: $600M
Key Investors
- WestCap Group
- Details: WestCap Group is a private investment firm based in Silicon Valley. They partner with visionary leaders to build generational companies.
- Investment Focus Areas: Technology, real estate, financial services
- Notable Investments: Airbnb, StubHub, iCapital Network
- Tomales Bay Capital
- Details: Tomales Bay Capital is an investment firm that provides growth capital to companies in various sectors. They participated in Zupee's $30 million Series B round in August 2021.
- Investment Focus Areas: Technology, high-growth potential companies
- Notable Investments: Specific notable investments are not publicly disclosed.
- Nepean Capital
- Details: Nepean Capital is a Mumbai-based investment firm. They led Zupee's $72 million Series B round in January 2022.
- Investment Focus Areas: High-growth companies, technology, consumer, financial services
- Notable Investments: Specific notable investments are not publicly disclosed.
- Matrix Partners India
- Details: Matrix Partners India is a venture capital firm that invests in early-stage companies across various sectors in India. They have been involved in multiple funding rounds for Zupee.
- Investment Focus Areas: Technology, consumer services, enterprise
- Notable Investments: Ola, Practo, Dailyhunt
- Orios Venture Partners
- Details: Orios Venture Partners is an early-stage venture capital firm that invests in technology startups in India. They are an existing investor in Zupee.
- Investment Focus Areas: Technology, consumer internet, SaaS, fintech
- Notable Investments: Pharmeasy, GoMechanic, Country Delight
What's Next for Zupee?
Zupee's partnership with Jio Platforms opens a vast opportunity to tap into Jio's extensive user base, potentially reaching millions of new users. This collaboration, combined with the expected sale of over 150 million 5G handsets, positions Zupee to significantly expand its market presence. The gaming industry is witnessing substantial investor interest, with companies like Mobile Premier League and Dream Sports achieving billion-dollar valuations, indicating a promising future for Zupee.
Future fundraising opportunities appear bright as Zupee continues to innovate and expand. The recent $102 million Series B funding round, led by Nepean Capital, underscores investor confidence. As Zupee develops new products and enhances user experiences, it is likely to attract further investments, potentially leading to strategic acquisitions to bolster its market position.
However, Zupee faces challenges such as intense competition from other gaming platforms and navigating regulatory hurdles in the real money gaming sector. Ensuring sustained user engagement and maintaining growth amidst these challenges will be crucial for Zupee's continued success.
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