Interactive game company ‘WinZO’ announces third fund for game developers worth $ 20 million
With the advent of more powerful GPUs and processors, as well as a new generation of consoles, 2020 has been a banner year for games, where huge demand has resulted in a massive shortage in the semiconductor market. All of this has spawned huge gaming conglomerates, including WinZO. The company has strived to revolutionize the video game scene and has just announced the third edition of its game developer fund, with the largest ever corpus of $ 20 million.
With this, the company seeks to invest in all forms of interactive entertainment: games, savings around gaming, content creation, live operations and security. In addition, it aims to collaborate with companies working in these fields through capital investment, infrastructure support and monetization support.
WinZo is one of the biggest gaming platforms in India and has an interesting business model. The company is partnering with third-party developers to host games on their Android and iOS apps, where users can enjoy personalized multiplayer gaming experiences. In this way, it facilitates microtransactions for these games and already has more than 80 apps in its portfolio. It claims to generate 100X revenue for partner developers through its own monetization model based on microtransactions versus alternative means of in-app purchases (which are still controlled by Apple and Google) and ads.
It also works in 12 different languages including English, Hindi, Gujarati, Marathi, Bengali, and Bhojpuri, with over 50 million registered users. This allows WinZO to tap into the non-English speaking Indian market that might be interested in games, and opens up a whole new arena for its platform.
It aims to provide a culturally relevant and enjoyable experience in the Indian gaming ecosystem, monetized through a unique micro-transaction model.
The company’s first fund was announced in July 2019 with a corpus of $ 1.5 million, followed by the second fund worth $ 5 million in November of last year. This third fund comes just a few months after WinZO completed its Round C Series, having raised $ 65 million.
“To a large extent, gambling is seen as an opportunity for investors to seize or miss because unlike other industries such as e-commerce, SaaS and D2C, there is no such thing as a playbook. stipulated for the creation of a successful game. As a result, many game ideas / teams do not receive the required support in the form of capital, advice or strategic help from the ecosystem. At WinZO, we are trying to change that because we believe that after centuries India is at the forefront of an opportunity where it can lead the world. Over the next decade, it will not only be a high potential market, but will also produce several unicorns and some emerging game companies globally. India has overtaken the United States and China in terms of the number of games downloaded in the geography on an annual basis. As one of the main players in the space, we take responsibility for fueling the creation of this gaming ecosystem that we dream of. GDF-III is another step towards achieving this goal. said Paavan Nanda, co-founder of WinZO Games.