Indian based gaming startup called Gamezop gets investment worth Rs.32 crores from US-based Bitkraft Ventures, Velo Partners, and FJ Labs. The home-grown company has 32 million monthly active users and the platform has more than 270 games.
The company was founded in 2015 and it is Owned by Gurugram-based Advergame Technologies Private Limited. The company is known for its byte-sized HTML5-based mobile games that can be played directly on any mobile browser. In 2016, the company raised capital of Rs.2.3 crore from a talent management firm called Kwan. It is offering games for the dedicated gaming section in various social media, e-commerce, video streaming, and payment platforms. They have a partnership with various companies like Myntra, Grofers, ShareChat, MX Player, and PhonePe.
Bitkraft is an early and mid-stage investor that discovers, supports, and helps esports startups scale, Founded in 2017. The US company said in an official statement that Gamezop could scale to over 34 Mn users in a highly competitive space while being profitable and with minimal external capital highlights the team’s capabilities to be a major internet company. Proven model ready to scale, extreme capital efficiency, solid product moat, and an unfair advantage in user acquisition are the major features that caused the US-based investment in Gamezop.
Recently, the company tied up with Snapdeal offering games such as Savage Revenge, Tower Twist, Battle Fish, and Rafting Adventure on the e-commerce store. It will help them to drive up user engagement using games. E-commerce Users will be able to play these games instantly on Snapdeal’s website and app without the need to install them as standalone apps. Additionally, each game will have a predefined target for users. Upon achieving these targets, discount codes will be unlocked that can be redeemed against purchases on Snapdeal. The platform is only available on a browser and through partner platforms, they don’t have any gaming applications like other games.
Online gaming platforms in India have seen a huge growth opening up the door for new investments because the COVID-19 outbreak made a shift to remote working and learning. In June, another gaming startup Bombay Play had raised $1.5 million in pre-series A round from Leo Capital, an angel investor and co-founder of Livspace Ramakant Sharma. Bombay Play engaged in creating multi-player games.