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TMT Law Practice advises WinZo on USD 12 Million Buyback from Hike
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TMT Law Practice advises WinZo on USD 12 Million Buyback from Hike
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At $131 million, funding for Indian online gaming platforms at 6-year high in 2020
April 05, 2021
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More such platforms were founded in India vis-à-vis other geographies for the second year in a row
The pandemic-induced lockdown forced most people in the country to take to the Internet for their everyday needs. Online gaming platforms were among the beneficiaries from this trend and this is reflected in the investments that the segment attracted last year.
According to data from Tracxn, a firm that tracks investments and financials of private companies and start-ups, $131.1 million was invested in the online gaming sector in India in 2020, the highest in the last six years. The number of firms that received the funding also climbed to 11 companies; another six-year high.
For content creators, it s a whole new ball game as demand streams in
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EXCLUSIVE: Hike is selling its stake in WinZO as Kavin Mittal enters gaming on his own
EXCLUSIVE: Hike is selling its stake in WinZO as Kavin Mittal enters gaming on his own
Sanchita DashMar 9, 2021, 15:29 IST
Kavin Mittal, HikeBCCL
WinZO, a gaming platform, sources told Business Insider.
Hike, in 2019, had invested $3 million in WinZO, as a part of its series A investment which also saw Kalaari Capital pumping in money.
Kavin Mittal’s Hike is looking to get back in the game with two new products – Vibe, an exclusive social platform and Rush, a gaming platform.Kavin Mittal’s Hike is looking to get back in the game with two new products – Vibe, an exclusive social platform and Rush, a gaming platform. And in that process the company is now selling its two-year old stake in WinZO, a real money gaming platform.