Connect with us

Asia

Gaming platform Zupee closes Series B at over $500 Million valuation

Published

on

Reading Time: 2 minutes

 

Zupee, a leading innovator in India’s online skill-based gaming industry, has announced that it has raised $30 million at a pre-money valuation of $500 million in Series B funding round. This round of funding has been co-led by Silicon Valley based WestCap Group and Tomales Bay Capital, with participation from Matrix Partners India & Orios Venture Partners.

This round comes within 6 months after its Series A round at a $100 million valuation, which is more than 5x increase in the company’s valuation. With total funds raised now at $49 million, Zupee is backed by some of the best in the industry – WestCap Group, Matrix Partners India, Smile Group and Orios Partners. The company has an existing user base of over 10 million users. This new round of funding will be used to enable scaling efforts through expanded product portfolio, deepening market reach and hiring global talent.

Founded in 2018 by graduates of India’s leading institution IIT Kanpur, Dilsher Singh and Siddhant Saurabh, and incubated with funding from Smile Group, Zupee innovates by reengineering time-tested games and enabling them to enhance skill, joy and hope. The company’s portfolio has innovative gaming formats of multiple popular board games. The flagship gaming app hosts live trivia quiz tournaments and has seen over 250 million gameplays.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Dilsher Singh, Founder and CEO, Zupee said, “Games inherently celebrate the journey and nurture self-expression. That’s what I am committed to building with Zupee – an organization which enables people anywhere in the world to enhance their intrinsic happiness through games. We innovate to ensure our games provide an intersection between skill and entertainment, enabling our users to earn while they play. We thank our investors for believing in our purpose and enabling us to progress on our journey to transforming it to reality. Our journey has just begun; 10 million happy users in India, billions more globally we want to touch through our innovative games.”

“WestCap remains a key strategic investor and operating advisor to Zupee and we are increasing our interest again as part of this most recent funding round,” commented Laurence A. Tosi, Founder and Managing Partner of WestCap and early investor in Zupee. “Dilsher and his world class team have innovated some of the most compelling and widely used mobile games of skill in India. The enduring appeal of the Zupee games brings engagement, enjoyment and empowerment to the widest audience of any gaming platform in the market. This funding will enable the Zupee team to invest further in innovation, expand its suite of games and aggressively pursue international expansion. Zupee has exponentially accelerated its growth over the last 12 months, making them one of the largest and fastest growing game companies globally.”

According to industry reports, the global online gaming industry is estimated to grow from $98 billion in 2020 to $272 billion in 2030. In 2020, the industry saw over 53 billion mobile gaming downloads worldwide, of which 17% came from India. By the end of this year itself, there will be 2.9 billion players worldwide.

Powered by WPeMatico

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading
Advertisement

Asia

SEGA SAMMY CREATION Launches “Prosperity Peaks™” in Macau

Published

on

sega-sammy-creation-launches-“prosperity-peaks”-in-macau
Reading Time: < 1 minute

 

SEGA SAMMY CREATION INC. proudly announces the first installation of Prosperity Peaks™, the latest addition to their successful Dice series, now live on casino floors in Macau. Building on the proven success of its earlier Dice games, this new title continues the legacy with powerful features and a design tailored for Asian players.

The Asian themed Prosperity Peaks™ retains the fan-favorite Dice Wild and Wild Reels features that have defined the series, while introducing an enhanced Jackpot Bonus that delivers more frequent and rewarding win opportunities. Players will experience the thrill of hitting Jackpots more often, adding extra excitement to every spin.

The company stated today that “The Prosperity Peaks™ Link game is designed uniquely for Asia and it’s highly anticipated when we first showcased in recent gaming shows. We deliberately brings all the elements fun and excitement to promote better entertainment on the gaming floor altogether.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The initial launch in Macau is just the beginning. Prosperity Peaks™ will also be coming soon to additional properties throughout Macau and extended to other key markets.

The post SEGA SAMMY CREATION Launches “Prosperity Peaks™” in Macau appeared first on European Gaming Industry News.

Continue Reading

Asia

12BET Goes Crypto with Big Rewards

Published

on

12bet-goes-crypto-with-big-rewards
Reading Time: < 1 minute

 

As cryptocurrency adoption surges worldwide—driven by landmark legislation and growing investor confidence—12BET, continues to lead in embracing digital innovation. Recent U.S. Congressional moves to pass crypto-focused legislation, alongside India’s evolving regulatory stance, mark a global shift towards mainstream acceptance of digital assets.

12BET, a pioneering name in the igaming world since 2007, invites crypto users to experience fast, secure and flexible transactions through its wide range of supported cryptocurrencies. Players can choose from the widely used USD-pegged stablecoin USDT (Tether), Bitcoin (BTC), Ethereum (ETH) and the community-favourite Dogecoin (DOGE). These crypto-friendly payment options ensure seamless access to 12BET’s full entertainment portfolio—meeting the expectations of a new generation of tech-forward players.

“As cryptocurrency continues to reshape how people handle money, we’re proud to give our players modern payment options that reflect our values of fairness and transparency. We’re building a platform that moves in step with global innovation and player-first features,” said Rory Anderson, spokesperson for 12BET.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

To celebrate this growing momentum, 12BET is offering all eligible users a spin on their Lucky Wheel, with prizes including an iPhone 16 Pro Max, a 2.5g 999 gold bar and a DJI Osmo Pocket 3—available for a limited time.

This move comes amid growing global crypto adoption, with recent legislative efforts like the GENIUS Act and CLARITY Act in the US, and increased regulatory clarity in markets like India. As the global crypto market surpasses $4 trillion, 12BET is doubling down on its mission to deliver a future-ready, player-first gaming experience.

The post 12BET Goes Crypto with Big Rewards appeared first on European Gaming Industry News.

Continue Reading

Asia

Enforcement Directorate of India Issues Fresh Summons to Meta, Google in Online Betting Probe

Published

on

enforcement-directorate-of-india-issues-fresh-summons-to-meta,-google-in-online-betting-probe
Reading Time: 2 minutes

 

Executives of tech giants Meta and Google did not depose before the Enforcement Directorate of India (ED) on Monday and have now been given fresh summons for July 28 in a money laundering case linked to promotion of illegal online betting and gambling platforms.

The representatives of the two companies sought deferment of the July 21 summons, saying they need time to collect relevant information and documents before they present themselves for questioning and recording of their statements at the federal probe agency.

The executives have been given a one-week extension and asked to depose on July 28. Once they depose, their statements will be recorded under the Prevention of Money Laundering Act (PMLA).

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

A Google spokesperson said that the company was “committed to keeping our platforms safe and secure, prohibiting the promotion of illegal gambling ads.”

“We are extending our full support and cooperation to investigating agencies to hold bad actors responsible and keep users safe,” the spokesperson said.

There was no response from Meta.

The federal agency is probing several platforms allegedly hosting illegal betting and gambling links, including instances of advertisements placed for them on various social media outlets and app stores.

The tech giants are understood to have been called by the ED to know how such illegal platforms can place ads on their portals.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Some actors, celebrities and sports persons are also under the scanner of the agency in these cases, and are expected to depose.

The ED has claimed illegal online betting and gambling platforms cheated people of their hard-earned money, and also laundered and evaded paying taxes of up to several crores of rupees.

Google said its “continuous AI advancements, complemented by human expertise, ensure all ads on our surfaces comply with local laws and our strict ad policies, and protect users from evolving threats.”

“Last year alone, we removed 247.4 million ads and suspended 2.9 million advertiser accounts in India,” the firm said.

The ED is investigating more than a dozen cases linked to illegal gambling and betting platforms across the country, including the Mahadev Online Book (MOB) app, whose main promoters hail from Chhattisgarh.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post Enforcement Directorate of India Issues Fresh Summons to Meta, Google in Online Betting Probe appeared first on European Gaming Industry News.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania