In a cash-based deal, online gaming platform WinZO has acquired a majority stake in Gurugram-based startup Upskillz Games.

With this acquisition, WinZO will add Upskillz’s blockchain and Web3 contributions to its platform. Moreover, it will likewise add Upskillz’s 1.3 million engaged user base to its platform.

Both the gaming startups will team up to conceptualize new games and will be sharing their technical expertise as well as assets while creating new games.

Upskillz Games is a mobile-based gaming platform, established in December 2020 by Mannit Sidhu. It professes to have had a month-on-month (MoM) development pace of 75% since its beginning.

Talking about the acquisition, Mannit Sidhu, the pioneer behind Upskillz, said, “The unparalleled innovation-based approach at WinZO makes it destined to be the top player in this $1.5 billion 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 developing world-class gaming titles powered by modern technology for users in India and globally.”

Established in 2018, WinZO offers more than 100 online games, including carrom, Sniper 3D, Bubble Shooter, Fruit Samurai, Cricket, 8-ball pool, and Knife Up, among others, on its platform. It collaborates with third-party developers to have games on the Android application.
As of now, WinZO offers online games in 12 vernacular languages to its 80 million global user base, as per the statement.

Moreover, WinZO professes to have supported Bengaluru-based gaming platform Bombay Play, UK-based gaming platform Village Studio, and blockchain-based gaming platform IndiGG. This investment was made through WinZO’s Game Developer Fund.

In September 2021, WinZO set up a $20 Mn Game Developer Fund to back gaming designers in India.

Last year in July, WinZO got $65 million in its Series C funding round from Griffin Gaming Partners. Already, the startup raised investment in its Series B funding round from Makers Fund, Courtside Ventures, Steve Pagliuca from Bain Capital, and Phil Sanderson from Griffin Gaming Partners.

In the skill-based gaming portion, it rivals Adda52, PokerDangal, and Octro, while in the fantasy sports section, it faces rivalry from MPL.

As per a report, the online gaming industry procured an income of INR 6.460 Cr in FY19-20. The sector is assessed to generate INR 18,700 Cr, developing at a CAGR of 40% by FY2022.

The sector has been seeing a large number of investment deals too. For example, Nazara’s NODWIN Gaming getting a 35% stake in Wings, MPL securing GameDuell and Web3 gaming startup IndiGG bagging $6 Mn are a couple of examples.

Credit: Inc 42