Skill-based real money gaming platform Zupee has raised $30 million (about Rs 222 crore) as part of its Series B round co-led by Silicon Valley-based WestCap Group and Tomales Bay Capital.
In this round, Zupee was valued at $500 million, up almost five-fold since January, when it had secured $10 million in a round led by existing investors WestCap Group and Matrix Partners India, the startup said. So far, it has raised $49 million, and is backed by the likes of Smile Group and Orios Partners.
Zupee will use the funds to expand its product portfolio, market reach and hire global talent.
The three-year-old startup offers games to enhance skills. Its portfolio includes trivia quiz tournaments which have seen over 250 million hits till date. “We are innovating to ensure our games provide an intersection of skill and entertainment, enabling our users to earn while they play. We thank our investors for believing in our purpose and enabling us to progress on our journey to transforming it to reality,” said Dilsher Singh, founder and chief executive officer of Zupee. Singh said the company has 10 million users.