Indian gaming startup Gamezop raises ₹32 crore from US investors Bitkraft

Homegrown gaming platform Gamezop with more than 34 million monthly active users has raised ₹32 crore ($ 4.3 million) in Series A funding from US-based Bitkraft Ventures, round led by Velo Partners, and FJ Labs.

Since 2016, this is the first major investment for the company seed round when they raised ₹2.3 crore from Kwan, a talent management firm.

This company is owned by Gurugram-based Advergame Technologies Private Limited. It was founded by Yashash Agarwal and Gaurav Agarwal in 2015. It’s famous for its byte sized HTML5-based mobile games, which can be played on any mobile browser. This platform has also partnered with other social media, video streaming e-commerce and payment platforms such as Grofers, Myntra, MX Player, ShareChat, and PhonePe, providing games for the dedicated gaming section on these platforms.

“Gamezop powers the gaming section on various other platforms which want to drive up user engagement using games. Pushing on a new gaming application can be expensive. These partner tie-ups account for roughly 75% of Gamezop’s business,” said Gaurav Agarwal.

“We have been looking to enter the Indian gaming market for a while and with Gamezop, the factors that excite us the most came together nicely – proven model ready to scale, extreme capital efficiency, solid product moat, and an unfair advantage in user acquisition. That Gamezop could scale to over 34 Mn users in a highly competitive space, while being profitable and with minimal external capital highlights the team’s capabilities to be a major internet company,” Malte Barth, Founding General Partner, Bitkraft said in a statement.

Bitkraft was founded in 2017. It is an mid-stage investor, which supports, discovers, and helps esports startups scale.

In June, one more gaming startup Bombay Play raised $1.5 million in pre-series A round from Leo Capital, Round was led by co-founder of Livspace Ramakant Sharma. The company was founded by Abhas Saroha and Oliver Jones, Bombay Play makes multi-player games.