Zupee inks content deal with Jio; secures $72 mn in latest funding round

CIOReviewIndia | Wednesday, 05 January 2022, 07:21 IST

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Zupee, an online casual gaming company Wednesday said it has inked a strategic partnership with Reliance Jio to offer its content on Jio Phones.

With this partnership, Zupee is aiming to build an ecosystem for faster and efficient development as well as distribution of products and services to benefit its customers.

Jio customers, in turn, will get access to Zupee’s online skill-based games along with other innovative products.

Additionally, Zupee is looking to foray into non-metro markets with Jio’s affordable 4G and 5G handsets.

“Over 150 million 5G handsets are expected to be sold before the commercial launch of 5G in India, and Zupee is aggressively looking to capture as much of the market as possible with this partnership with Jio,” the company said.

Zupee has also raised $72 million as part of a larger funding round, led by Mumbai-based Nepean Capital.

With this, the company has closed the latest funding round with $102 million raised at a valuation of $600 million. Its existing investors include Orios Venture Partners and Matrix Partners India, amongst others.

The company said it has registered over 70 million downloads in India and the new capital raise will help it grow its reach significantly.

The funds will be utilized towards developing new products, enhancing immersive design experiences, expanding into new markers, ramping up market research, hiring new employees, and others.

“Zupee has always been a behavioural science, human motivation & culture first start-up, bringing the best of India’s engineering talent, creativity & storytelling abilities under one roof, pushing the boundaries of innovation, with user centric design and a tech-for-good approach. Jio is the perfect partner for this journey as we look to penetrate the remotest areas of India all the way to the most disadvantaged people to bring them into the fold,” said Dilsher Singh, Founder & CEO, Zupee.

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