Tictok Skill Games Pvt Ltd, which operates vernacular real-money gaming platform WinZO, has raised $18 million (Rs 132 crore) in a Series B fundraising round.
The round in the New Delhi-based startup has been led by Singapore-based Makers Fund and New York-based Courtside Ventures, WinZO said in a statement. Existing investor Kalaari Capital also participated in the round.
Makers Fund says it provides founders with capital as well as strategic guidance and access to its global network.
Courtside Ventures is an early-stage firm that makes investments from the seed to Series B stages. Sectors it focusses on include sports-technology, live events, digital media, and esports and gaming.
The investment in WinZO marks both firms’ first bet on an Indian startup, the company said.
WinZO will use the capital it has raised to strengthen its content pipeline, as well as focus on meeting the needs of its audience.
“WinZO co-founders Paavan Nanda and Saumya Singh Rathore’s success through hyper focus on their player ecosystem is evident,” Makers Fund partner Michael Cheung said.
Nanda, who is an alumnus of Indian Institute of Management-Calcutta, is a co-founder of budget hotel room aggregator ZO Rooms. Rathore is an alumnus of University of Manchester and has worked with companies including ZO Rooms and the Times Network.
In July last year, WinZO raised $5 million (around Rs 34 crore) in its Series A funding round, which was led by Kalaari Capital and messaging platform Hike. At the time, the company had said it would use the capital to acquire gaming content as well as hire and strengthen staff.