BENGALURU: Multi game platform Games24x7 has raised $75 million in a recent funding round, led by Malabar Investment, and has entered the unicorn club with a valuation of $2.5 billion.
The funding round also included participation by existing investors Tiger Global and Raine Group. Tiger had earlier invested in the company in 2011 and 2012 and Raine did their first round of investment in 2019.
With the latest investment round, Games24x7 became the most valuable multi-game platform. Its offerings include RummyCircle, the largest online rummy game, My11Circle, the second-largest fantasy platform and U Games, a portfolio of casual games.
Apart from Games24x7, Dream Sports and Mobile Premier League are the other unicorns in the online gaming space. Founded in 2006 by Trivikraman Thampy and Bhavin Pandya, Games24x7 has more than 100 million users.
Trivikraman Thampy, Co-Founder, and Co-CEO said, “This investment is a testimony not only to Games24x7’s performance but also to India’s immense potential as an online skill gaming market.”
Sumeet Nagar, Managing Director, Malabar Investments said, “Games24x7 is a pioneer in the fast-growing online gaming industry in India and has built a highly profitable business with outstanding acquisition and retention metrics."