Private Equity Fund Investments
Online quizzing platform Zupee raises $30-M from WestCap Group, Tomales Bay Capital, others
Gurugram-based online gaming platform Zupee has raised USD 30 million in its Series B round, led by Silicon Valley-based WestCap Group and Tomales Bay Capital. Existing investors Orios Venture Partners and Matrix Partners India also participated in the round. Following the funding round, Zupee's valuation has jumped 5x to USD 500 million from its previous round earlier in the year, when it raised USD 100 million led by US-based growth equity firm WestCap Group and existing investor Matrix Partners India. Including the current round, Zupee has so far raised USD 49 million. Founded in 2018 by Dilsher Singh Malhi and Siddhant Saurabh, Zupee allows users to play quiz tournaments across a range of topics. The fresh funds will be used to expand its portfolio and deepen user reach. Part of the funds will also be used for strategic acquisitions. The company has 35 million registered users, primarily from tier 2 and tier 3 cities in the 18-35 age group.
From the Venture Intelligence PE-VC Deal Database: Between Mar-20 and Jan-21, Zupee has raised over $17-M from Falcon Edge Capital, Orios VP, Matrix Partners India and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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