Info-tech

WinZO announces $20 million game developer fund

Our Bureau Mumbai | Updated on September 27, 2021

The company is looking to invest across all games, economies around gaming, content creation, live-ops, and security

Vernacular social interactive gaming platform WinZO has announced the third edition of its flagship Game Developer Fund with the largest ever corpus of $20 million.

The company is looking to invest across all forms of interactive entertainment: games, economies around gaming, content creation, live-ops, and security, it said in an official release. WinZO aims to collaborate with the companies working in these areas through Capital investment, infrastructural support and monetisation support.

This comes six months after the gaming start-up raised series-C funding of $65 million led by California based Griffin Gaming Partners and existing investors; Maker’s Fund, and Courtside.

The platform partners with gaming studios and game developers globally to offer these games across multiple multiplayer formats. It had earlier announced a fund of $1.5 million in July 2019. The second fund of $5 million was announced in November last year and received over 500 applications of which around 70 games were selected.

WinZO made investments in the range of $100,000-$500,000 in each of the partnerships varying from concept stage to near completion stage in the product life cycle, it said. The games cover multiple genres ranging from casual, action, sports to mid-core multiplayer games such as Tennis, Golf etc.

Each game is customised to support varied audience segments in over 12 regional languages and Indianized with culturally relevant online games for Bharat.

“For a larger part, gaming is considered as a hit or a miss opportunity among investors as unlike other industries such as e-commerce, SaaS & D2C, there is no stipulated playbook for creation of a successful Game. As a result of this, a lot of gaming ideas/teams do not get requisite support in form of capital, guidance or strategic help from the ecosystem,” said Paavan Nanda, co-founder, WinZO Games.

“We at WinZO are trying to change that because we believe that India is on the forefront of an opportunity where it can lead the world. Over the next decade, it will not just be a high potential market but will also be yielding multiple unicorns and some emerging gaming companies at a global scale. As one of the major players in the space we take it as our responsibility to fuel the inception of this gaming ecosystem that we dream of. GDF-III is another step towards achieving this,” said Nanda.

WinZO generates revenue for the developers through a microtransaction based monetisation model compared to the alternative means of In-app purchases and advertisements. It is also setting-up an internal team to evaluate and deploy this capital which will be directly working with the founders.

Published on September 27, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like