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WinZO announces third Game Developer Fund of $20M

winzo funding

 WinZO, a vernacular social interactive gaming platform, announced the third edition of its Game Developer Fund (GDF) worth $20 million, the largest ever corpus.

The latest development arrives six months after the gaming startup raised $65 million in a Series C round from Griffin Gaming Partners and others.

In July 2019, the company had announced its first fund of $1.5 million followed by Fund II of $5 million in November last year. It received more than 500 applications, of which about 70 games were selected.

WinZO invested in the range of $100,000-$500,000 in each of the partnerships ranging from concept stage to near completion stage in the product life cycle, a statement said.

WinZO is planning to make investments across all sorts of interactive entertainment — games, economies around gaming, content creation, live-ops, and security, the statement said.

It strives to partner with the businesses working in these fields via capital investment, infrastructural support, and monetization support, it added.

Paavan Nanda, Co-founder of WinZO Games said”For a larger part, gaming is considered as a hit or a miss opportunity among investors as unlike other industries such as e-commerce, SaaS, and D2C, there is no stipulated playbook for creation of a successful game. As a result of this, a lot of gaming ideas/teams do not get requisite support in form of capital, guidance, or strategic help from the ecosystem.”

“Over the next decade, it will not just be a high potential market but will also be yielding multiple unicorns & some emerging gaming companies at a global scale. India has overtaken the US, China in terms of the number of games being downloaded in the geography on an annual basis,” he added.

WinZO is also setting up an internal team to assess and extend this capital which will be directly working with the founders, the statement said.

WinZO seems to have transformed the gaming space with its innovative offerings. I’m sure the new fund will encourage several emerging entrepreneurs in the startup ecosystem. My best wishes to the team of WinZO.

Shishir Gupta, Founder and CEO, StartupLanes

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