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Gamezop raises Rs. 32 Crores Funding by BITKRAFT Ventures and other

Gamezop, a leading multi-game platform with over 34 Mn monthly active users, has raised Rs. 32 crores ($ 4.3Mn) investment from BITKRAFT Ventures, Velo Partners, and FJ Labs. BITKRAFT is the world’s largest esports fund and co-owner of the publicly-traded esports ETF, NYSE: NERD. Velo Partners is a global real money gaming fund and early backer of Adda52 and Junglee Rummy. Gamezop is operated by Advergame Technologies Private Limited and was founded by brothers Yashash and Gaurav Agarwal in 2015. Prior to this, the company raised $ 350K in 2016.

The company licenses HTML5 games from top developers. It embeds them in over 1,600 popular apps – including Myntra, Grofers, ShareChat, MX Player, Glance (InMobi), and PhonePe – enabling users of these apps to play games casually or competitively for cash. This way, Gamezop piggybacks on the distribution network of these partner apps and acquires users without any spending. The partner apps see an average 40% boost in engagement time through games, in addition to getting a 50% share in revenue made by Gamezop.

Gamezop’s partner apps are free to choose between two integration options: mobile esports, where users compete on skill-based games in live tournaments to win cash prizes; and free-to-play games. Commenting on the funding, Malte Barth, Founding General Partner, BITKRAFT said, “We have been looking to enter the Indian gaming market for a while, and with Gamezop, the factors that excite us the most came together nicely – proven model ready to scale, extreme capital efficiency, solid product moat, and an unfair advantage in user acquisition. That Gamezop could scale to over 34 Mn users in a highly competitive space while being profitable and with minimal external capital highlights the team’s capabilities to be a major internet company.”

BITKRAFT Ventures was founded in 2017 by esports legend, Jens Hilgers. Hilgers previously founded ESL and served as CEO before selling the majority stake to MTG in 2015. In addition to serving as Managing Partner at BITKRAFT, Jens is the Co-Founder and Chairman of G2 Esports, and the Managing Director of BAYES Holding (formerly DOJO Madness).

BITKRAFT’s team is located in Berlin, Los Angeles, San Francisco, New York and London covering videogames and esports investments not only digitally but in the most relevant and busy metropoles for digital entertainment in the Western world.

 

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