In a Series C funding round, online gaming platform WinZo, raised $65 million which was led by Griffin Gaming Partners, a California-based global gaming fund. As of now, the company has raised a total of $90 million. This includes the $18 million that it raised six-month ago from its existing investors Courtside Ventures, Makers Fund, and Steve Pagliuca, the co-chairman of Bain Capital.
Paavan Nanda, co-founder of WinZo commented on this saying, “With this raise, we plan to grow much faster and become an even more lovable product for our consumers. WinZO is poised and strategically well positioned to be one of the first ‘Made in India’ products that will rule the world in coming years.”
Co-founder of Griffin Gaming Partners, Phil Sanderson will now join the board of directors at WinZO. Nick Tuosto, WinZO’s co-founder said, “We are excited to make Griffin Gaming Partners’ first investment in India backing WinZO, the company behind the largest social gaming app in the country.”
“We saw in WinZO’s games incredible retention and monetisation metrics we believe set the company up for continued explosive growth and are proud to support the team on the journey,” said Tuosto, who is also the head of gaming at LionTree’s and its managing director.
Founded in 2018 by Nanda, the company partners with third-party developers to host games on their Android app. Currently available in 12 languages, the online gaming platform has over 50 million users. In the past 12 months alone, WinZO’s revenue has grown tremendously. They have partnered with more than 100 game developers.
Donna Amo is a writer at Gutshot Magazine. She is a graduate from Sophia College of Women, Mumbai with a degree in English Literature. When this October born foodie is not writing content or poetry, she spends her time laughing at memes or watching series. Based out of Mizoram, she is drawn to all things nature and has a soft spot for puppies.
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