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Monday, January 25, 2021

winzo: Winzo announces Game Developer Fund II of $5 million

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India’s social gaming platform Winzo has announced a $5 million (Rs 37.50 crore) fund to uplift the Indian game developer ecosystem. This news comes after the startup announced its Series-B investment of $18 million led by global interactive entertainment fund Makers Fund based in Singapore, New York-based Courtside Venture, and Steve Pagliuca, the co-chairman of Bain Capital and investor in Epic Games – developers of Fortnite.
The company had earlier announced Fund I of $1.5 million in July 2019. In response, it claims that it received 250+ applications from large and small developers and ended up deploying the capital across 9 teams. It onboarded all those projects on WinZo’s platform. The company has increased its allocation amount to $5 million in order to have a strong impact on boosting the Indian gaming ecosystem. Applications are open till December 31, 2020. j
Announcing the fund, Paavan Nanda, co-founder, WinZO Games, said: We feel excited to announce the launch of Game Developer Fund II. Through this initiative, we are committed to uplift the Indian Gaming Ecosystem which is at the cusp of disruption. There is infinite talent and creativity and we would like to offer everything else that’s required for a team to create a dent in this space and create gaming products.”

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