Zupee, a new gaming platform, raised $30 million in a Series B funding round and hit a valuation of $500 million as a result. WestCap, which is headquartered in Silicon Valley, and Tomales Bay Capital, led the round.
Other investors also participated in the round such as Matrix Partners India and Orios Venture Partners. Zupee was valued in its Series A at $100 million and Series B followed six months later with a valuation that is 500% higher.
According to Zupee, this investment will be used to recruit talent, support market expansion and also scale through expanded product portfolios.
In 2018, Zupee was co-founded by Dilsher Singh and Siddhant Saurabh. At present, the company has a user base of up to 10 million people.
Zupee has become the leading game app by providing a game catalog that includes innovative and popular game formats. In addition, it hosts live puzzle games.
The company’s Founder and CEO Dilsher Singh is working so that the Zupee can build a gaming platform where players can save their journeys, memories and nurture self-expression.
Moreover, via its games, Zupee will connect people wherever they are around the world and also bring a satisfying experience to its users.
The company will never stop innovating and improving to create a crossroads between entertainment, skill, and game monetization, according to the company.
An original investor in Zupee, WestCap affirmed that it will continue to support the company as a strategic investor and key executive adviser. WestCap is turning its attention to the company with its recent Series B investment.
Now, the company will be able to push into the innovation and development of the game suite, especially expanding its influence globally.
Over the past year, the company’s growth has grown at a rapid rate. As a result, this has helped make Zupee one of the largest and fastest growing game companies in its sector.