Gurgaon: Online gaming startup Zupee has raised Rs 70.09 crore in a fresh round led by existing investors Matrix Partners and West Cap. This is the second infusion by existing investors in the firm that runs live quiz tournaments on its app where users compete for cash prizes.
Zupee’s parent entity has allotted 2,689 series A1 preference shares at an issue price of Rs.260,666 pers share to raise the above-mentioned sum, regulatory filings show.
According to Zupee’s website, the app runs over 1,000 quizzes across genres such as Bollywood, Math, sports, spelling, among others. It claims to have disbursed over Rs 100 crore worth of cash prizes to more than 500K winners.
Since the app offers cash prizes, Zupee’s app is distributed through the Android application package or APK. Google doesn’t allow the listing of apps that involve cash prizes on the Play Store. Dream11 and Mobile Premiere Game or MPL’s distribution channels are the same.