In Series A funding LED by Matrix Partners, Zupee raised $ 8 million

Gurugram-based real-money gaming platform Zupee raised $ 8 million (approximately INR 60.76 crore) in a Series A funding round led by Matrix Partners India to expand the platform’s user base. Other investors participating in this round of investment include Falcon Edge Capital, Westcap Group, Oros Venture Partners and Smile Group.

Internet investment and advisory company Smile Group invested $ 1 million (about INR 6.9 crore) in Zupai’s seed funding last year, and started the startup from November 2018.

Zupee was founded in May 2018 by IIT Kanpur alumni Dilsher Mali and Siddharth Saurabh. According to their website, they serve over 100 subjects for quizzes including Bollywood, Hollywood, sports, mathematics and spelling. More than 2000 quizzes a day claim to host the tournament and allow instant payments to users’ Paytm accounts. The platform claims about 1 million users on the website.

According to the report, the CEO of Zupee, Dilsher Singh Malhi, said that the funds raised will be used not only to increase Zupee’s user base, but also for its technology, team strengthening and marketing.

Zupee, like many other gaming platforms including online poker, rummy and esports platforms, has recently seen an increase in its user traffic because of the proliferation of COVID-19 users stuck at home. Therefore, the money received by the platform to promote its marketing and technical efforts is timely.