Get All Access for $5/mo

WinZO Gets $18 Million In Series B Round Singapore-based Makers Fund and New York's Courtside Ventures led the investment round

By Debarghya Sil

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

Winzo
Saumya andPaavan, Co-Founders WinZO Games

Indian vernacular gaming platform WinZO on Thursday announced that it has raised $18 million in Series B Round which was led by Singapore-based Makers Fund and New York's Courtside Ventures. Both the investors are making their entry to India through Winzo.

Revant Bhate, FinAdvantage, Indigo Edge (exclusive advisor to WinZO), and Co-founder Paavan Nanda and Saumya Singh Rathore also joined the round.

The company will utilize the fresh capital to strengthen its content pipeline, captivate mobile-first consumers and their gaming needs. It aims to become the go-to gaming app for the country.

Founded in 2018 by Paavan Nanda and Saumya Singh Rathore, WinZO partners with third-party game studios to host their games on the Android app, thus enabling users to enjoy multiplayer formats with their friends or strangers in a localized fashion. WinZO's platform is currently available in 12 languages with over 25 million registered players. The platform currently offers over 70 games in multiplayer formats and clocks over 1 billion micro-transaction per month.

It has grown by 1,500 per cent and has acquired over 20 million users in the past 12 months.

Commenting on the latest development, Paavan Nanda, co-founder WinZO, said, "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."

Based out of Singapore, Makers Fund focuses on investing in companies engaged with interactive entertainment. The venture capital till date has made 30 investments across North America, Europe and Asia.

On the funding, Michael Cheung, partner at Makers Fund, said, "WinZO is at the heart of India's gaming evolution, a geography we've been tracking for some time. Paavan and Saumya's success through a hyper-focus on their player ecosystem is evident, and a clear asset as they accelerate their growth."

Rahul Garg, principal at Kalaari Capital, said, "Mobile gaming is a large opportunity in India, and in a short span of time, WinZO has built a high quality vernacular gaming platform for the masses. We are really proud of their progress & their superior metrics (retention, time spent, etc.) that are a true reflection of customer experience. We are very excited to partner with Makers and Courtside in the next leg of WinZO's journey and bring superior entertainment to the next 200M gamers."

Kalaari Capital led WinZO's Series A round in 2019.

Debarghya Sil

Entrepreneur Staff

Former Correspondent

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Growth Strategies

Tata Motors: 45% Of EV Sales Come From Smaller Towns; Targets Installing Community Chargers

Category acceptance from smaller towns is the key to growth and we have achieved it, Vivek Srivatsa, chief commercial officer, Tata Passenger Electric Mobility

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

IATA Predicts a Mix Bag For Global Airlines

Profitability of airlines is set to improve in 2025, however, growth will be limited due to supply chain issues

News and Trends

Decentralised Internet Offers Ample Opportunities to Developers: Avery Ching of Aptos

"Six and a half of the million of those (MAU) are actually from the Indian region," revealed the co-founder. "India is a huge market for us." The L1 blockchain company entered the region in 2023 as one of its test markets.

News and Trends

YouTuber Bhuvan Bam Joins Sexual Wellness Brand Peppy as Co-Founder and Investor

Peppy products are available on major e-commerce platforms like Amazon, Meesho, Flipkart, Tata 1mg, and Hyugalife.