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Smile Incubated Zupee Raises USD 10M

This is the second round of funding secured by Zupee within the last 9 months.

Zupee, one of Smile's portfolio companies, has raised $10M led by WestCap Group. This is the second round of funding secured by Zupee within the last 9 months. It has raised a total of $18 Mn from Matrix Partners, WestCap, Smile, FalconEdge, and Orios. Zupee was incubated by Smile in 2019.

Founded in 2018 by IIT-Kanpur graduates, Dilsher Singh Malhi and Siddhant Saurabh, Zupee enables users to play live quiz tournaments on their smartphone devices. Running 24x7, Zupee Gold has over 2000+ live quizzes covering a broad range of topics from Bollywood, Hollywood, Sports, Math, Spelling, and Hinglish. Zupee user base has grown 100x in the last 12 months.

India leads the world in mobile game downloads with more than 5 billion downloads in 2019. The online gaming market is growing at 40% annually and is expected to reach a $14 billion market in India by 2025.

“We have driven an exponential month-on-month growth this year. This fresh round of funding enables us to double down on our scaling efforts. Bringing joy and making each moment count is what truly propels us forward in doing our bit towards bringing the next Billion online- solving for connectivity, local language content, culture and keeping the internet a place for productive engagement”, said Dilsher Singh, Founder, and CEO of Zupee.

“The Zupee team has shown outstanding competencies in building and executing a world-class skill-based gaming platform that mobile users in India love and keep going back to. Their industry-leading growth this year is a testament to their strengths, and we are delighted to partner them in their growth story as they scale up,” said WestCap Group.

“India continues to be one of the largest markets for mobile gaming in the world, we believe that Zupee is positioned well to become the market leader in the skill-based gaming space. We are delighted to partner with them and have a ringside view of their astonishing growth journey. They have shown great maturity and sagacity in their approach towards business and we feel thrilled to see them making great strides especially in a post Covid world where they have emerged even stronger, more relevant and truly resilient,” Harish Bahl and Manish Vij, Founder and Co-founder of Smile said in a joint statement.

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