Griffin Gaming Partners Invests In Gaming Startup WinZO
WinZO, a Delhi-based Esports startup, has raised $65 million in a Series C funding round led by Griffin Gaming Partners, a California-based venture capital firm investing in the gaming ecosystem.
This is the first investment by Griffin Gaming Partners in India. Also, as part of the deal, Co-Founder of Griffin Gaming Partners Phil Sanderson will join WinZO’s board of directors.
WinZO: Netflix of Gaming
Creating the Netflix of Gaming, Paavan Nanda and Saumya Singh Rathore started WinZO in 2018. As per the startup, it is unlocking demographics that have historically gone underserved. The gaming platform is currently offered in 12 languages.
Speaking on the development, Paavan Nanda, Co-founder of WinZO, said,
“We are super excited to partner with the Griffin team. Their incredible experience and precious insights across the global media and entertainment landscape shall be valuable as we continue to disrupt the Indian gaming ecosystem. With this raise, we plan to grow much faster and become an even more lovable product for our consumers. WinZO is poised and strategically well-positioned to be one of the first ‘Made in India’ products that will rule the world in coming years.”
Offering 70-plus games across various multiplayer formats, with more than 50 million registered users, WinZO claims to be clocking over 2.5 billion micro-transactions per month.
Recently, WinZO had given a complete exit to its early investor Hike with four-fold returns on their investment. Last year, the e-gaming startup launched Game Developer Fund II worth $5 million (Rs 37.5 crore). The fund aims to support projects in the interactive entertainment space built by Indian game developers.
The Indian online gaming segment is growing fast and expected to more than double at Rs 29,000 crore by FY25, says a report by KPMG.
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