Gamezop, a New Delhi-based multi-gaming platform, has raised Rs 32 crore ($4.3 million) in Series A round led by global e-sports fund BITKRAFT, and participation from Velo Partners and FJ Labs.
In 2016, the company – which has 34 million monthly active users - had raised $350,000 in seed funding. Gamezop, founded by brothers Yashash and Gaurav Agarwal in 2015, is operated by Advergame Technologies Pvt Ltd.
“We are seeing massive growth e-sports business and expect to deploy a part of the funding for it. Further, we would use the funding to establish presence in South East Asian and Latin American countries,” Gamezop co-founder Gaurav Agarwal told BusinessLine.
The company licences HTML5 games from top developers and embeds them in about 1,600 popular apps – including Myntra, Grofers, ShareChat, MX Player, Glance (InMobi) and PhonePe – enabling users of these apps to play games casually or competitively for cash.
Gamezop piggybacks on the distribution network of the partner apps to acquire users. The partner apps see an average 40 per cent boost in engagement time through games, in addition to getting a 50 per cent share in revenue made by Gamezop.
BITKRAFT Ventures, founded in 2017, is early- and mid-stage investor focused on e-sports sector. Velo Partners is a global real money gaming fund and early backer of Adda52 and Junglee Rummy.