According to a KPMG report, in FY21, India’s online gaming industry was valued at Rs 13,600 croresexpected to more than double by FY25 to reach a market size of Rs 29,000 crores.
So what is the reason for such a huge growth of game startups in India? The answer lies in affordable internet connectivity and increasing smartphone penetration.
Over the past couple of years amid the COVID-19 pandemic, the Indian gaming industry has witnessed a huge increase in the number of users.
Gaming platforms including Dream11, MPL, rummy circleetc., have captured the attention of investors – raising funds and achieving massive valuations.
And they are not alone. Your story compiled a list of recently funded online gaming startups that are making great strides in the industry.
Launched in 2006 by Trivikraman Thampy and Mumbai-based Bhavin Pandya Games24x7 is popular for RummyCircle, a fantastic platform My11Circleand a portfolio of casual games under the U Games brand.
With offices at Bangalore, Delhi, Miami, and Philadelphia, Games24x7 claims to have more 100 million users – one of the fastest growing online gaming companies in India.
While most of its users play its fantasy sports title, the startup earns its lion’s share of revenue from its card game.
In March 2022, Games24x7 entered the coveted $1 billion unicorn club – valued at $2.5 billion – after raising $75 million in a round led by Malabar Investment and existing investors – Tiger Global and Raine Group.
This is the first major investment in the online skill games sector in India after the government established the AVGC (Animation, Visuals, Games and Comics) Task Force in the Union Budget of India. ‘last year.
In FY21, Games24x7 declared a total income of $173 millionwith an after-tax profit of $50.5 millionaccording to a Tofler report.
Based on Gurugram game start Zupee offers games, including Zupee Gold, Ludo Supreme Gold, and Ludo Ninja Gold Gameson iOS and Android platforms, with an ability to play games on the web browser.
Founded in 2018 by Dilsher Singh and Siddhant Saurabhthe skill-based casual game startup has more 70 million downloads in India.
By August 2021, Zupee had secured $30 million in a Series B funding round, with an additional $72 million investment in January 2022 – bringing the total funds raised in the round to $102 million – and valued at $600 million.
The Series B round saw participation from investors including WestCap Group, Capital of Tomales Bay, Capital Nepean, A.J. Capital, Matrix Partners Indiaand Orios Venture Partners.
At the time, Zupee said it would use the capital to develop new products, improve immersive design experiences, expand into new geographies, accelerate marketing, reach, penetration, research and innovation, and hire the best talents.
Indeed, the incubated startup Smile Group has partnered with Jio Platforms to distribute its content to Jio customers and make it available to Jio Phone users.
To make Zupee the largest gaming platform in India, connecting with Bharat users, the startup aims to use this partnership to roll out more quality games in multiple languages.
Additionally, the startup aims to capture the 5G handset market – estimated for sale on 150 million 5G handsets before its commercial launch in India — with this partnership with Jio.
Launched in 2018 by Paavan Nanda and Saumya Singh, Based in Delhi vernacular gaming platformcreates a Netflix-like experience for users who can enjoy localized multiplayer formats. For this, it partners with third-party developers to host games on its Android app.
Now, WinZO is available in 12 Indian languages – with over 50 million registered users — facilitate more 2.5 billion monthly micro-transactions on a portfolio of more than 70 games.
In July 2021, it raised $65 million in a Series C round led by California-based Griffin Gaming Partners. In September 2020, it secured an $18 million Series B seed round led by Singapore-based Makers Fund and New York-based Courtside Ventures. To date, the startup has raised $90 million in total funding.
In 2016, Piyush Kumar and Dipesh Agarwal started Based in Delhi gaming startup Rooter as a social network and online community for sports fans – similar to Fancred and Sports Cat in the WE and FanCode in India.
Between 2016 and 2019, the startup tried and tested multiple products and features, and eventually became a one-stop destination for live sports content, allowing users to go live during a match, conduct quizzes, and share posts. multimedia using its platform.
Rooter says it pays players – who are part of its creator program – anywhere between 5,000 rupees and Rs 25 million one month to broadcast its gameplay on its platform.
In January 2022, he raised $25 million in a Series A round led by light box, March Games, Duan Parkand existing investors lead Sports & Health Tech Partners.
Other VCs including 9Unicorns, ADvantage Sports Technology Fund, and Goal companiesalso participated in the tour.
Rooter will use the new funds to double the size of his team by hiring for various roles in delhi.
By the end of 2022, the startup hopes to evolve its ARR at $12-15 million from its current ARR of $2.5 million. It aims to expand its user base to almost 700 million players in the next two to three years.
Founded in 2019 by Roby John, Sanket Nadhani, Christelle D’cruz, Sreejit J, and Navneet Waraich,created popular mobile games such as MaskGun, the devil among us, and tower conquest.
The social gaming platform has invested deeply in building its game engine to run large-scale real-time multiplayer games, including official game PAC-MAN game.
Additionally, the gaming startup created Bored – a suite of games for remote teams based in the United Kingdom, United States, and India.
The startup claims its MaskGun the game went through 50 millions installedwhile devil among us hit 10 million installs within four months of its launch.
Singapore head office startup — with an office in Pune — claims to have recorded annual revenue growth of 40 percent.
According to SuperGamingalmost 25 percent of its users are from India, while the rest are from YOU’RE USELESSand emerging countries, including Mexico, Brazil, and Indonesia.
In August 2021, he raised $5.5 million in a Series A round from sky catcher, (the venture capital arm of Akatsuki), BAce Capital, dream incubator, 1Up Companiesand Monish Darda.