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Games24x7 Raises $75 Million Funding, Enters Unicorn Club With $2.5 B Valuation

Founded in 2006 by Trivikraman Thampy and Bhavin Pandya, Games24x7 currently operates a portfolio of skill-based gaming platforms including RummyCircle (Online Rummy), My11Circle (Fantasy Sports), and U Games (Casual Games)

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Games24x7 Raises $75 Million Funding, Enters Unicorn Club With $2.5 B Valuation
Games24x7 Raises $75 Million Funding, Enters Unicorn Club With $2.5 B Valuation

Multi-game platform Games24x7 has raised $75 million in a recent funding round, led by Malabar Investment, and has entered the unicorn club with a valuation of $2.5 billion.

The funding round also included participation by existing investors Tiger Global and Raine Group. Tiger had earlier invested in the company in 2011 and 2012 and Raine did their first round of investment in 2019.

Nazara Technologies, which was India's first publicly listed gaming firm, currently has a market cap of Rs 5,250 crore (around $691 million).

Games24x7 plans to use the funds raised to accelerate its user growth, content development, and technological capabilities.

Founded in 2006 by Trivikraman Thampy and Bhavin Pandya, Games24x7 currently operates a portfolio of skill-based gaming platforms including RummyCircle (Online Rummy), My11Circle (Fantasy Sports), and U Games (Casual Games).

“We are extremely happy to partner with Malabar Investment and to see Tiger Global and Raine Group continue to repose their faith in us. This investment is a testimony not only to Games24x7’s performance but also to India’s immense potential as an online skill gaming market” said Thampy.

Co-founder Pandya also said in a statement that they will continue to "innovate, introduce new games, and contribute toward India's onward march as a global tech power" The Raine Group was the financial advisor to Games24x7 for this round.


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