Gaming platform WinZo acquires majority stake in Gurugram-based Upskillz Games
- ByStartupStory | June 22, 2022
Upskillz Games, a Gurugram-based firm that develops casual games, has been purchased by the idiomatic interactive entertainment platform WinZO. WinZO paid an unknown sum in the all-cash transaction to acquire the studio’s controlling ownership.
This agreement comes soon after WinZO recently announced investments in additional game production firms, including Bombay Play in Bengaluru, Village Studio in the UK, and IndiGG, a blockchain-based Gaming Guild.
WinZO is a social gaming and interactive entertainment platform established by Paavan Nanda in 2018. It has over 100 online games available on its platform, including games like Carrom, Sniper 3D, Bubble Shooter, Fruit Samurai, Cricket, 8-Ball Pool, and Knife Up. It has also onboarded Mahendra Singh Dhoni as its brand ambassador. It claims to have an 80 million user base and more than 2.5 billion microtransactions per month.
Upskillz, which Mannit Sidhu founded in December 2020, has seen an increase in users and income growth at a cumulative monthly rate (CMGR) of 75% since May 2021. In addition to bringing Upskillz’s 1.3 million audience members to its platform, the acquisition will allow WinZO to integrate Upskillz’s Blockchain and Web3-based offering into its library of content.
The founder of Upskillz Games, Mannit Sidhu stated, “The unprecedented innovation-based strategy at WinZO makes it destined to be the top player of this $1.5 Bn fast-growing market in India. This link with WinZO is an obvious one given that Upskillz employs proponents of the same values. We are dedicated to working together to create cutting-edge video games for players in India and throughout the world.”
“India is on the verge of a global gaming revolution today, and with the participation of outstanding partners like Upskillz, WinZO is devoted to unlocking the latent potential of the Indian game development industry,” said Paavan Nanda, co-founder of WinZO.
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