Zupee, a leading skill-based mobile gaming platform in India, has raised additional capital of $10 million, with a total of $19 million raised to date. This latest round is led by WestCap Group (“WestCap”), a leading US growth equity firm, with participation from existing investor Matrix Partners India.
This is the second round of funding successfully secured by Zupee within the last 12 months - with $8 million raised in April 2020. This new capital will go towards further scaling up the venture, expanding market reach, enhancing user penetration for Zupee's platform, and focusing on delivering an exceptional and truly rewarding user experience.
Founded in 2018 by IIT-Kanpur graduates, Dilsher Singh Malhi and Siddhant Saurabh, Zupee enables users to play live quiz tournaments on their smartphone devices. Running 24x7, Zupee Gold has over 2000+ live quizzes covering a broad range of topics from spellings, movies, slang and general interest topics. With the ease of use, an exceptional UI and a low entry barrier, Zupee believes in connecting the hearts and minds of its users through social skill-based gaming.
“We have driven exponential month-on-month growth this year. This fresh round of funding enables us to double down on our scaling efforts. We remain committed to delivering a fantastic user experience for our rapidly expanding user community. Bringing joy and making each moment count is what truly propels us forward in doing our bit towards bringing the next billion online — solving for connectivity, local language content, culture and keeping the internet a place for productive engagement,” said Dilsher Singh, Founder and CEO of Zupee.
India leads the world in mobile game downloads with more than 5 billion downloads in 2019. The online gaming market is growing at 40% annually and is expected to reach $14 billion in India by 2025.
“Zupee is delivering a product that delights mobile users in India,” said Dan Fischer, WestCap, adding, “Zupee provides fun and fair competition that connects people in a meaningful way and its industry-leading growth is a testament to the team’s vision. We are excited to partner with Dilsher and the entire Zupee team as they continue to rapidly scale.”