[Funding alert] Games24x7 raises $75M led by Malabar Investment at $2.5B valuation, becomes unicorn
Summary
The startup says the latest investment round makes it India’s most valuable multi-game platform, at a valuation of $2.5 billion, which also marks its entry into the unicorn club. 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. This speaks of the data science capabilities, rigour, thoughtfulness, and strive for excellence that the fantastic leadership team brings to the table. With favourable demographics, increasing internet penetration and a burgeoning economy, India is ideally suited for growth as an online skill gaming hub. Guided by his vision, we will continue to innovate, introduce new games, and in our modest way, contribute toward Indias onward march as a global tech power."