VC Fund Investments
Real-money gaming platform GetMega raises $15-M from South Korea's Hashed, Nexus, Accel
Skill-based real-money gaming startup GetMega has raised USD 15 million in its Series B round from Nexus Venture Partners, Accel India and South Korea's Hashed Venture Fund. The Bengaluru-based firm had earlier raised USD 9 million from Nexus Ventures and Accel India in its angel and Series A round. New investor Hashed Venture has put in INR 51.35 crore (USD 7 million) while Nexus and Accel have invested USD 4 million each in two tranches respectively. GetMega is reported to have raised fresh funds at a valuation of INR 550 crore (USD 75 million). This is a three-fold jump in the company's valuation which was valued at around USD 25 million during its Series A. Post-deal, founders Mayank Kumar and Lokesh Jangid's collective stake in the company has reduced to 42.02%. Accel has emerged as the largest stakeholder among investors, owning 23.62% followed by Nexus and Hashed who have 19.62% and 9.28% stake respectively. GetMega offers skill-based games across cards, casual and trivia categories. Positioned as a social gaming platform, it counts on other social and messaging platforms for distribution. As of March, the Android-only app claimed 5 million registered users on the platform.
From the Venture Intelligence PE-VC Deal Database: Between Dec-18 and Nov-19, Mega Games raised over $9-M from Accel India, Nexus Venture Partners and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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