Indian gaming startup WinZO gives $12m exit to early investor Hike through share buyback
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May 3, 2021
Social gaming platform WinZO, on Monday, said it has provided a complete exit to early investor Hike Pvt. Ltd, through a share buyback for $12 million.
Through the buyback, Hike has received a four-fold return on its investment in the gaming company, WinZO said.
Hike, along with Kalaari Capital, had led Winzo’s $5-million series A round back in July 2019.
The news comes after WinZO had raised close to $18 million in series B funding, led by existing investors including co-chair of Bain Capital and early investor in Epic Games, Stephan Pagliuca; Singapore-based Makers Fund; and New-York based, Courtside Venture in September 2020, taking the total fundraise tally for the three-year-old startup to $38 million.