Indian esports gaming platform Winzo has secured $18 million in a Series B funding round.
The investment was led by Singapore-based Makers Fund and Courtside Ventures, found in New York. Furthermore, the Winzo funding marks a first for both firms as neither has invested in India until now. Further participation came from Kalaari Capital, who first invested in Winzo back in 2018.
"Winzo is at the heart of India's gaming evolution, a geography we've been tracking for some time. Paavan and Saumya's success through a hyper-focus on their player ecosystem is evident, and a clear asset as they accelerate their growth," said Makers Fund partner Michael Cheung.
Reaching new heights
Winzo plans to use the money to continue to strengthen its content, meeting the needs of mobile gamers.
"With Series B funding, we are thrilled and humbled to welcome like-minded business partners into our Winzo family. Along with their network, support and fresh financing, we are confident we can propel Winzo even further as a business and become an even more lovable product for our customers. It's time to put all the learnings and experiences of the past toward building something huge," said Winzo co-founder Paavan Naanda.