New Delhi: Vernacular entertainment platform WinZO on Thursday said it has raised USD 18 million (about Rs 132.2 crore) in funding led by Singapore-based Makers Fund, and New York-based Courtside Ventures. Both funds are making their first-ever investment in India through WinZO in the series B funding round, a statement said.
Kalaari Capital, which first invested in WinZO in 2018 and led the company’s series A in 2019, also participated in the round, along with Revant Bhate (Mosaic Wellness co-founder), FinAdvantage, Indigo Edge, and co-founders Paavan Nanda and Saumya Singh Rathore. The company has raised over USD 23 million in funding till date. “WinZO plans to strengthen its content pipeline, captivate mobile-first consumers and their gaming needs, and become the go-to gaming app in India. The company’s revenue has grown 1,500 per cent and acquired 20 million users in the last 12 months,” the statement said.
WinZO has achieved this on the back of their dense network of vernacular micro influencers and over 30 partner game developers through which it strives to become the go-to gaming platform for ‘Bharat’, it added. “With series B funding, we are thrilled and humbled to welcome like-minded business partners into our WinZO family. Along with their network, support and fresh financing, we are confident we can propel WinZO even further as a business and become an even more lovable product for our customers. It’s time to put all the learnings and experiences of the past toward building something huge,” WinZO co-founder Paavan Nanda said.
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