Multi-game platform Gamezop raises Rs 32 Cr in Series A spherical led by using BITKRAFT Ventures.
Delhi-based Gamezop, a multi-game platform has raised Series A funding of Rs 32 crores ($4.3 million) from BITKRAFT Ventures, Velo Partners, and FJ Labs.
Started by using brothers Yashash Agarwal (CEO), and Gaurav Agarwal in 2015, Gamezop licenses HTML5 video games from builders and embeds them in famous apps – such as Myntra, Grofers, ShareChat, MX Player, Glance (InMobi), and PhonePe – enabling customers of these apps to play video games casually or competitively for cash.
The business enterprise has extra than 1,600 accomplice apps as of today. This way, Gamezop piggybacks on the distribution community of these accomplice apps and acquires customers barring any spending. The accomplice apps see an common forty percentage raise in engagement time thru games, in addition to getting a 50 percentage share in income made through Gamezop
The business enterprise will use the funding to develop the cell esports structure and set up presence in choose distant places markets thru its piggybacking model.
“Growth of cell esports is definitely democratizing the get right of entry to aggressive gaming and the potential to win actual rewards.
We determined to take it one notch in addition by way of going HTML5 and casting off the want to pressure app sideloads – saves us a lot of cash and our customers a lot of friction,” stated Yashash. Gamezop is run and owned by using Advergame Technologies.
Earlier, the gaming enterprise raised a seed fund of $350,000 in 2016 from undisclosed investors. The new traders are international esports-focused dollars and therefore the startup is additionally eyeing world markets for enlargement in the future.
BITKRAFT is an e-sports fund commenced through Germany-based serial entrepreneur Jens Hilgers in 2017, and Velo Partners is additionally a world actual cash gaming fund and one of the early backers of structures like Adda52 and Junglee Rummy.
Malte Barth, Founding General Partner, BITKRAFT said, “We have been searching to enter the Indian gaming market for a whilst and with Gamezop, the elements that excite us the most got here collectively properly – confirmed mannequin equipped to scale, intense capital efficiency, strong product moat, and an unfair benefit in person acquisition.
That Gamezop ought to scale to over 34 million customers in a quite aggressive area whilst being worthwhile and with minimal exterior capital highlights the team’s skills to be a most important net company.”