Zupee, an online skill-based gaming platform, procured $30 million in a Series B round headed by WestCap Group and Tomales Bay Capital, for a $500 million value.

Formed in 2018 by IIT Kanpur alumni Dilsher Singh and Siddhant Saurabh, Zupee innovates by reinventing classic games to improve skill, joy, and optimism.

Several popular board games include novel gaming formats in the company's repertoire. The company's flagship gaming app, which has over 250 million downloads, offers live trivia quiz events. The app is compatible with both Apple's iOS and Google's Android operating systems. The company plans to release a web-based service with over eight additional games.

The Gurugram-based gaming startup raised about $10 million in a round-headed by WestCap Group and Matrix Partners India earlier this year and was valued at $100 million. Since its debut in 2018, the company has raised around $49 million.

Zupee currently has 35 million registered users, particularly in the 18-25 age level in India's Tier II and III regions. It has about 15 percent of users who are paying clients. For paid games, the company charges a 10 percent fee, and customers can spend anywhere from one rupee to Rs.10,000 on a single game.

Silicon Valley's WestCap Group and Tomales Bay Capital led the Series B funding round, with Matrix Partners India joining in.

This financing comes just six months after the company's $100 million Series A round, which represents a more than fivefold increase in the company's worth.

Zupee games' enduring appeal engages, entertains, and empowers the largest audience of any gaming platform on the market. With this finance, the Zupee team will be able to invest even more in innovation”, states Laurence A Tosi, Founder and Managing Partner, WestCap and an early Zupee investor.

"The Indian startup ecosystem is in a great place right now, and it's only getting better.
We've always believed in providing excellent user experiences at Zupee, and with this additional round of funding, we'll be able to not just improve our gaming products but also actively seek worldwide expansion”, explains Dilsher Singh, Founder, and CEO, Zupee.

"Our adventure has only just begun. We want to reach billions of more people around the world with our creative games, which have ten million satisfied users in India”, continues Singh.

It plans to use the new investment to broaden its portfolio and boost its user base. The three-year-old company would also like to make a strategic purchase to help it develop even faster.