Mumbai-based mobile game studio Games24x7, raised $75 million in its latest investment round. This latest round of investment has increased the company’s valuation to $2.5 billion.
Games24x7 was founded in 2006 and is known for its skill-based mobile casual games such as fantasy sports platform My11Circle and RummyCircle, which it operates under the U Games brand.
The majority of the studio’s 100 million users come from My11Circle, although a higher proportion of its revenue is provided by RummyCircle.
Also see: Finest Acquires Monaco Esports for $10M
“We are extremely happy to partner with Malabar Investment and to see Tiger Global and Raine Group continue to repose their faith in us,” said Games24x7 co-founder and CEO Trivikraman Thampy. “This investment is a testimony not only to Games24x7’s performance, but also to India’s immense potential as an online skill gaming market.”
Trivikraman Thampy, co-founder and CEO of Games24x7
In the same week, Bangalore-based mobile game company Bombay Play raised $7.5 million in its initial funding to further expand its hyper-casual game offerings.
The 28-year-old Bosnian superstar and Falcons' entry fragger, NiKo, has secured the 18th spot in…
The 26-year-old Romanian entry fragger and NAVI star, iM, has been named the 19th best…
The 22-year-old Ukrainian support and NAVI star, b1t, has been named the 20th best player…
Entering a restructuring process, BC.Game announced via their X account that they have parted ways…
Entering a restructuring process, BC.Game announced via their X account that they have parted ways…
Sweden-based esports organization NIP has announced that it has parted ways with its female Impact…