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WinZO acquires Upskillz Games for undisclosed valuation in all cash deal

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Online social gaming platform WinZO has acquired a majority stake in Gurugram-based startup Upskillz Games in an all-cash deal, reported Inc42. With this acquisition, WinZO will integrate Upskillz’s blockchain and Web3 offerings into its platform. Besides, it will also add Upskillz’s 1.3 Mn captive audience base to its platform.

Both the gaming startups will collaborate to conceptualise new games and will also be sharing their technical expertise as well as resources while developing new games.

Founded in December 2020 by Mannit Sidhu, Upskillz Games is a mobile-based gaming platform. It claims to have a month-on-month (MoM) growth rate of 75% since its inception.

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Speaking about the acquisition, Mannit Sidhu, founder of Upskillz, said, “The unparalleled innovation-based approach at WinZO makes it destined to be the top player of this $1.5 Bn rapidly growing industry in India. Having the proponents of these same values at Upskillz, makes this association with WinZO a natural one. Together, we are committed to develop world-class gaming titles powered by modern technology for users in India and globally.”

Founded in 2018, WinZO offers over 100 online games in vernacular languages including the games carrom, Sniper 3D, Bubble Shooter, Fruit Samurai, cricket, 8-ball pool, and Knife Up, among others on its platform. It essentially partners with third-party developers to host games on the Android app.

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WinZO had earlier announced investments in other gaming studios like Bengaluru-based Bombay Play, UK-based Village Studio and IndiGG, a blockchain-based Gaming Guild. These investments were made by WinZO under its flagship initiative, the $26 Million WinZO Game Developer Fund. In July last year, WinZO raised $65 million in its Series C round, led by California-based Griffin Gaming Partners, a global gaming fund.

“India is at the cusp of a global gaming revolution today and with the participation of great partners like Upskillz, WinZO is committed to unlocking this latent potential of the Indian game development industry,” said Paavan Nanda, co-founder, of WinZO.

 

 

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