Startups Investment Recap – January 13
Hello HYPE readers!
Welcome to your bi-weekly recap where we come to you with all the green goodness in the startup investment sector. Let’s dive in.
Zupee raised of $10M in new funding
Skill-based mobile gaming platform Zupee raised additional capital of $10 million. The round was led by WestCap Group (WestCap), a leading US growth equity firm and included participation from existing investor Matrix Partners India. According to the official statement, the startup has so far raised $19 million in funding including this round. The fresh fund will go towards further scaling up the venture, expanding market reach, enhancing user penetration for Zupee’s platform, and focusing on delivering an exceptional and truly rewarding user experience. This is the second round of funding successfully secured by Zupee within the last 12 months, after the company raised $8M in April 2020.
Nazara delivers $75M exit to $3M WestBridge Capital investment
Indian gaming and sports startup Nazara delivers $75mn exit to $3mn WestBridge Capital investment after Ahmedabad-based Financial advisory firm Plutus Wealth Management LLP and its associates have bought shares worth Rs 500 crore in Nazara. Since its inception in 1999, Nazara has grown significantly and has become India’s leading gaming and sports company. The gaming company has developed popular games such as World Cricket Championship, Chhota Bheem Race, Motu Patlu Race, etc and acquired a range of gaming companies. Today, Nazara has a network of over 100 Mn players in India and posted record revenue of INR 264 Cr in FY 2020, growing from INR 164 Cr in 2018-19.
Juked raises over $1M with crowd equity campaign
Juked.gg, the online epicenter of esports where fans can watch the latest broadcasts and follow the most relevant industry news, today announced the closing of its crowd equity fundraising campaign using Republic, the private investing platform. The campaign raised $1,070,000 which is the maximum amount available via Regulation Crowdfunding (“Reg CF”) in less than four months, making it one of the fastest-growing campaigns on Republic. Funds from this campaign will be used to grow Juked’s staff in order to accelerate the development of the company’s web product, apps, and original content offering. In aggregate, Juked has now raised a total of $2.1 million in funding.
Cavea announced that it has raised a $1.23M financing round
Danish esports and gaming sponsorship and advertisement analytics firm Cavea announced that it has raised a €1M EUR ($1.23M USD) financing round from new and existing investors with additional support from The Danish Growth Fund, Vækstfonden. The company is looking to use the additional funding to “consolidate and expand the product offering, grow the team, and put full focus on commercialization.” Cavea is partnered with several esports organizations including Fnatic, Astralis, Ninjas In Pyjamas, Team Envy, and PSG Talon.
Veo Technologies raises $25M in a Series B round of funding
Veo Technologies, a Copenhagen startup that has designed a video camera and cloud-based subscription service to record and then automatically pick out highlights of games, which it then hosts on a platform for its customers to access and share that video content, has picked up around $25 million in a Series B round of funding. The funding is being led by Danish investor Chr. Augustinus Fabrikker, with participation from U.S.-based Courtside VC, France’s Ventech and Denmark’s SEED Capital. The company’s plan will be to use the funds to continue expanding the company’s business on two levels: expanding its U.S. operations, with an office in Miami and continuing to enhance the scope of its technology.