Gamezop Raised Rs. 32 Crores Series A Led By BITKRAFT Ventures - GADGET-INNOVATIONS

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Gamezop Raised Rs. 32 Crores Series A Led By BITKRAFT Ventures

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Funding to fuel growth of real money gaming business and expand to other geos

 

 

 

Gamezop, a leading multi-game platform with over 34 Mn monthly active users has raised Rs. 32 crores ($ 4.3Mn) investment from BITKRAFT Ventures, Velo Partners, and FJ Labs. BITKRAFT is the world’s largest esports fund and co-owner of the publicly-traded esports ETF, NYSE: NERD. Velo Partners is a global real money gaming fund and early backer of Adda52 and Junglee Rummy.

 

 

Gamezop is operated by Advergame Technologies Private Limited and was founded by brothers Yashash and Gaurav Agarwal in 2015. Prior to this, the company raised $ 350K in 2016.


The company licenses HTML5 games from top developers and embeds them in over 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. This way, Gamezop piggybacks on the distribution network of these partner apps and acquires users without any spending. The partner apps see an average 40% boost in engagement time through games, in addition to getting a 50% share in revenue made by Gamezop.


Gamezop’s partner apps are free to choose between two integration options: mobile esports, where users compete on skill-based games in live tournaments to win cash prizes; and free-to-play games, where users play games casually. The company will use the investment to grow the mobile esports format and establish presence in select overseas markets through its piggybacking model.





New Delhi | Gurgaon, 27th August 2020



 

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