India’s multi-gaming platform, Gamezop has raised Rs 32 crore ($4.3 million) investment from Bitkraft Ventures, Velo Partners, and FJ Labs. Before this, in the year 2016, the company raised 350K.
Gamezop is a platform dedicated to gaming section within non-gaming apps, and it features around 270 high-quality games. There are about 34 million users from across the world that plays on the platform every month through over 1,600 apps that have integrated Gamezop.
The investment firm Bitkraft is one of the largest esports fund and co-owner of the publicly-traded esports ETF, NYSE: NERD. Velo Partners is a global real money gaming fund and early backer of Adda52 and Junglee Rummy.
HTML5 games from top developers are licensed by Gamezop, and then they are embedded in over 1,600 popular apps like; Myntra, Grofers, ShareChat, MX Player, etcetera. The main aim behind this is to enable users of these apps to play games either casually or to win the cash amount. By doing so, Gamezop piggybacks on the distribution network of these partner apps and acquires users without any spending. And, moreover, the partner apps see an average 40% boost in engagement time through games. In addition to this, the partner application even shares 50% in revenue made by Gamezop. The partner applications associated with Gamezop are free to choose between two integration options:
- Mobile esports, where users contest on skill-based games in live tournaments to win cash prizes
- Free-to-play games, where users play games casually.
Gamezop will use the investment to grow the mobile esports format and establish a presence in select overseas markets through its piggybacking model.
CEO and Co-Founder of Gamezop, Yashash Agarwal even commented that the growth of mobile esports is genuinely the introduction of the democratic system that has access to competitive gaming and the ability to win real rewards. And, to reveal the true power of mobile esports, the company has decided to take it one step further by going HTML5 and eliminating the need to force app side loads. By doing so, a lot of money is saved, and users go through less friction. Moreover, the CEO and co-founder also showed his trust in the brand and said that “Bitkraft is the clear thought leader when it comes to esports, gaming, and immersive entertainment. And, as a multi-gaming platform, Gamezop has made the right decision by choosing BITKRAFT for investment partners to help them grow the business.”
Moreover, founding general partner, BITKRAFT, Malte Barth said that “We have been looking to enter the Indian gaming market for a while and with Gamezop they finally got that opportunity.” He further addressed the factors like; proven model ready to scale, extreme capital efficiency, solid product moat, and an unfair advantage in user acquisition, made this partnership more unique.