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Gaming platform Zupee closes Series B at over $500 Million valuation

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Zupee, a leading innovator in India’s online skill-based gaming industry, has announced that it has raised $30 million at a pre-money valuation of $500 million in Series B funding round. This round of funding has been co-led by Silicon Valley based WestCap Group and Tomales Bay Capital, with participation from Matrix Partners India & Orios Venture Partners.

This round comes within 6 months after its Series A round at a $100 million valuation, which is more than 5x increase in the company’s valuation. With total funds raised now at $49 million, Zupee is backed by some of the best in the industry – WestCap Group, Matrix Partners India, Smile Group and Orios Partners. The company has an existing user base of over 10 million users. This new round of funding will be used to enable scaling efforts through expanded product portfolio, deepening market reach and hiring global talent.

Founded in 2018 by graduates of India’s leading institution IIT Kanpur, Dilsher Singh and Siddhant Saurabh, and incubated with funding from Smile Group, Zupee innovates by reengineering time-tested games and enabling them to enhance skill, joy and hope. The company’s portfolio has innovative gaming formats of multiple popular board games. The flagship gaming app hosts live trivia quiz tournaments and has seen over 250 million gameplays.

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Dilsher Singh, Founder and CEO, Zupee said, “Games inherently celebrate the journey and nurture self-expression. That’s what I am committed to building with Zupee – an organization which enables people anywhere in the world to enhance their intrinsic happiness through games. We innovate to ensure our games provide an intersection between 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. Our journey has just begun; 10 million happy users in India, billions more globally we want to touch through our innovative games.”

“WestCap remains a key strategic investor and operating advisor to Zupee and we are increasing our interest again as part of this most recent funding round,” commented Laurence A. Tosi, Founder and Managing Partner of WestCap and early investor in Zupee. “Dilsher and his world class team have innovated some of the most compelling and widely used mobile games of skill in India. The enduring appeal of the Zupee games brings engagement, enjoyment and empowerment to the widest audience of any gaming platform in the market. This funding will enable the Zupee team to invest further in innovation, expand its suite of games and aggressively pursue international expansion. Zupee has exponentially accelerated its growth over the last 12 months, making them one of the largest and fastest growing game companies globally.”

According to industry reports, the global online gaming industry is estimated to grow from $98 billion in 2020 to $272 billion in 2030. In 2020, the industry saw over 53 billion mobile gaming downloads worldwide, of which 17% came from India. By the end of this year itself, there will be 2.9 billion players worldwide.

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Online Casino Platform 96M Partners with Formula 1

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Formula 1 and 96M, a premier Asian online casino platform, have officially announced a landmark partnership, bringing a new wave of excitement to fans throughout the region. This collaboration establishes 96M as the official betting partner of F1 in Asia, offering exclusive content, innovative betting opportunities and a forward-looking perspective on the future of both industries.

This partnership goes beyond the standard offerings. Fans can look forward to exclusive content tailor-made for the Asian market. Not only will fans gain a deeper understanding of the sport, but they’ll also be armed with the knowledge to make informed betting decisions.

96M will offer a thrilling array of exclusive betting options specifically designed for the Asian market. From daring pre-race predictions to in-play wagers that keep the adrenaline pumping, this partnership promises to elevate the viewing experience for fans of all levels.

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To celebrate this exciting collaboration, 96M is launching a special prediction promotion with a unique twist. Fans can participate by predicting race outcomes on the 96M platform via the one-of-a-kind F1 Airdrop. This innovative promotion promises a thrilling way for fans to engage with the sport and potentially score exclusive incentives.

This partnership is poised to redefine the landscape of both online betting and motorsport. By leveraging F1’s global reach and 96M’s expertise in the Asian market, the collaboration aims to set new standards for innovation, responsible gaming and audience engagement. With a shared commitment to delivering exceptional experiences, F1 and 96M are positioned to lead the industry forward.

The partnership officially commences ahead of the 2024 Singapore Grand Prix, marking the beginning of a thrilling new era for both F1 and 96M.

The post Online Casino Platform 96M Partners with Formula 1 appeared first on European Gaming Industry News.

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Fun88 and Dale Steyn Team Up for Another Winning Partnership

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Fun88, a leading online gaming platform, announced the continuation of its partnership with legendary cricketer Dale Steyn as its brand ambassador. This collaboration, which began in 2023, has significantly strengthened Fun88’s credibility and trustworthiness in the global gaming industry. The company is excited to have Steyn with them for another year, connecting with fans everywhere.

Dale Steyn, a former South African cricketer renowned for his exceptional cricketing career and celebrated as one of the greatest fast bowlers in the history of the sport, brings with him a wealth of experience & a legacy of excellence. His association with Fun88 underscores the platform’s commitment to providing a safe, secure and reliable gaming experience for all users.

Dale Steyn said: “From humble beginnings to the world stage, I made it through hard work, dedication, and belief. I pushed limits, broke barriers, and never forgot to have fun. Now, with FUN88, my journey continues. Whether it’s your next big game or a shot at fame, Fun88 is your guide. Play Fun, Win Big!”

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Over the past year, Steyn’s role as a brand ambassador has played a pivotal role in elevating Fun88’s reputation. His professionalism, along with his love for sports, matches Fun88’s values of transparency, caring for customers and providing top-quality entertainment. His presence has helped Fun88 connect with sports fans on a deeper level and bring them closer to the action. As Fun88 continues to expand, the platform is looking forward to strengthening its relationship with Steyn.

Fun88 is a leading name in the sports industry, sponsoring well-known teams and events across various sports like cricket, football and kabaddi. The platform is dedicated to promoting sportsmanship and connecting fans with their favorite games through innovative, engaging experiences, offering exciting opportunities for sports lovers to interact with teams and events through betting and live-action features.

The post Fun88 and Dale Steyn Team Up for Another Winning Partnership appeared first on European Gaming Industry News.

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Xsolla to Present Global Expansion Solutions at Tokyo Game Show 2024

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Xsolla, a global video game commerce company, will showcase its cutting-edge solutions at Hall 4, Booth #04-C48, during the Tokyo Game Show 2024, which will take place from September 26-27, 2024, at the Makuhari Messe Convention Center in Tokyo, Japan. Xsolla’s booth will feature live demonstrations of its latest solutions aimed at helping game developers and publishers succeed in expanding to international markets.

During the event, Jin Jeong, Regional Vice President of Xsolla Japan, will deliver a keynote session focusing on the critical role of Xsolla’s Merchant of Record (MoR) solutions in transforming the way game companies handle cross-border transactions, taxes, and regulatory complexities. This session will offer developers and publishers a comprehensive look into how Xsollasimplifies global operations, allowing studios to focus on creating games while Xsolla handles the business side.

In addition to showcasing their MoR solutions, Xsolla will demonstrate how their payment systems and cross-play/cross-pay features enhance global reach for game developers of all sizes and across all platforms. Xsolla will also showcase how they help video game companies integrate with various payment methods worldwide, allowing developers to monetize their games across different regions easily.

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David Stelzer, President of Xsolla, emphasized the significance of this event for the company: “We’re thrilled to be part of the Tokyo Game Show and to present our latest solutions designed to empower game developers and publishers to expand globally. Our mission is to support the gaming industry with the tools they need to thrive in international markets, and we are eager to showcase how Xsolla can make global expansion easier and more effective.”

Attendees are invited to visit Xsolla’s booth to meet with the team of experts, who will be available to provide insights, answer questions, and discuss how their tailored solutions can help game developers and publishers grow their businesses. For those interested in more in-depth discussions, Xsolla also offers one-on-one meetings to explore specific solutions for global market expansion.

The post Xsolla to Present Global Expansion Solutions at Tokyo Game Show 2024 appeared first on European Gaming Industry News.

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