Funding Alert

WinZO receives funding from previous investors, Hike exits as an investor.

Winzo, a vernacular mobile gaming platform in India received funding in the Series B round of funding. The startup raised additional $13 million from existing investors Stephan Pagliuca, Makers Fund, and Courtside Venture. Further, WinZO bought back Hike’s share for $12 million. Hike had earlier participated in the $5 million Series A funding in WinZO back in 2019. This exit transaction received approval from the Ministry of Corporate Affairs (MCA).

“That’s correct. Hike’s been given a complete exit from WinZO. As founders, we are super chuffed and humbled to have a board that is extremely bullish, and completely aligned with the audacious goals we have set for ourselves. They had immensely supported the company through the process.” Paavan Nanda, the Co-Founder of WinZO stated.

In addition, to the $13 million capital received in the series B funding by its existing investors Stephan Pagliuca, Makers Fund, and Courtside Venture. Previously, these investors had led the $18 million Series B funding for WinZO in September 2020, taking the total fundraise tally for the three-year-old startup to $38 million. 

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