Two large venture funds have invested $18 million in the Indian gaming platform WinZo, which, among other things, helps users earn real money in mobile projects. The interest of investors can serve as a new impetus for the growth of the local market.The creators of WinZo raised funds in Round B, and their investors were the large Makers Fund and Courtside Ventures.
This is the first experience of working with the Indian market for both companies.
WinZo was founded in Delhi in 2018 and is a platform for third-party developers of mobile projects. At the moment, there are 70 games available in the service, for which online tournaments are held, and users can earn real money in them.
One of the key advantages of WinZo in the market is the support of 12 languages common in India. The user base of the project is 25 million people who make more than 1 billion microtransactions every month.
Makers Fund partner Michael Cheung also considers India one of the most developing gaming markets in the world: “WinZo is at the epicenter of India’s gaming revolution — a market we have been following lately.”
Last year, Take-Two CEO Strauss Zelnik included the country in the list of the most promising regions along with Africa. In the first half of 2020, India became a leader in the number of mobile app installations and showed an increase of almost a billion downloads.
Also in August, the government of the country came out in support of local developers and announced its intention to encourage the creation of games inspired by Indian culture.
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