Gurugram-based esports and real money gaming platform WinZo has announced a US$1.5 million (Rs. 10 crore) fund to support and groom local Indian game developers.
The games produced by the indigenous developers will be added by Winzo on its platform, the company added.
Commenting on the announcement, Paavan Nanda, Co-founder, WinZO, said, “Through this fund, we are looking to partner with Gaming Studios as well as independent game developers by offering them an infrastructure to develop top quality content and a powerful platform to monetize their games from day one. A sector gets disrupted when the best brains of the world work actively towards unlocking its potential. Through this initiative, we look forward to interacting with highly enthusiastic and top-notch talent, keen at creating a dent in the global gaming ecosystem”.
He further added: “WinZO’s social multi-player skill gaming platform clocked 100 million gaming minutes every day and has been able to successfully monetize this engagement. The company is growing 50 per cent month on month. On one hand, large OTTs platforms are struggling to monetize in India, but WinZO is facilitating the first-ever M&E transactions from the tier 2 or tier 3 audiences.”
Winzo Games (earlier known as TicTok Games) counts venture capital firm Kaalari Capital as one of its investors. It offers more than 25 real money skill games including fantasy sports, space warrior, quizzes, carrom, virtual cricket, virtual basketball etc. on its app-based platform in ten languages, namely English, Hindi, Bangla, Tamil, Telugu, Kannada, Gujarati, Marathi, Punjabi, and Bhojpuri.