Get All Access for $5/mo

Boston Celtics Co-Owner Stephen Pagliuca Invests In WinZO The investment comes days after the New Delhi-based startup bagged $18 million in Series B round from foreign investors

By Debarghya Sil

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

WinZO Games
WinZO Team

Social gaming platform WinZO on Friday announced it has received investment from Stephen Pagliuca, co-chairman of private equity firm Bain Capital through a mix of undisclosed primary and $1 million secondary instrument. As a part of this investment transaction, WinZO has also conducted one of the first ESOPs buy-out worth $1 million of its early investors and employees.

The investment comes days after the New Delhi-based startup bagged $18 million in Series B round from Makers Fund based in Singapore, and New York-based Courtside Ventures. This is the startup's second investment amidst the ongoing pandemic.

Pagliuca—who is a co-owner of the popular NBA Basketball team, Boston Celtics—with this investment marks his entry into Indian gaming ecosystem. He has invested in WinZO Games through his office Pags Group showing confidence in the startup's performance and ever growing Indian gaming market.

Stephen Pagliuca, Co-Chairman, Bain Capital

Founded by Paavan Nanda and Saumya Singh Rathore, WinZO is often described as the Netflix for gaming. The company partners with third-party game studios to host their games on their Android app, allowing users to enjoy multiplayer games with their friends or strangers online in a localized or personalized manner. Currently, the company has over 70 games across 12 regional languages and over 25 million registered users. It boasts of over 1 billion micro-transactions per month. The startup primarily targets tier-II to tier-V cities.

Commenting on the recent development, Rathore said, "We are thrilled to be backed by Steve, an investor of high repute in our growth journey. The kind of confidence exhibited by industry experts from across the globe is a testament to the scalable, sustainable and robust business we have built in a very short span of time. It's soul satisfying to be able to generate value through ESOP buyout for our early employees too. This is just the beginning of an exciting journey towards solving social entertainment for Bharat."

Debarghya Sil

Entrepreneur Staff

Former Correspondent

News and Trends

India's Data Center Capacity to Reach 2,070 MW by End of 2025: CBRE

Cumulative investment commitments in the data center sector in India to cross USD 100 billion by 2027. Mumbai, Chennai, and Delhi-NCR to lead data center supply addition

News and Trends

AWE Funds to Scale Women-Led ClimateTech Initiatives with CGEF Grant

The grant will empower AWE Funds to expand initiatives, invest in women-led climate companies, enhance accelerator programs, and launch a fellowship nurturing young women professionals in climate and sustainability.

News and Trends

Former Cleartrip CEO Ayyappan R Eyes Quick Commerce with FirstClub

After stepping down as Cleartrip's CEO earlier this year, Ayyappan brings his expertise from leading positions at Flipkart, including his role as chief business officer at Myntra.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

News and Trends

Multiples Private Equity Leads INR 1000 Cr Funding in Shubham Housing

With the raised funds, the Gurugram-based platform aims to propel its growth trajectory, diversifying its product offerings and strengthening its national footprint.