Microsoft explores funding in Indian gaming platform Zupee
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Microsoft has held conversations to make investments withinside the Indian play-to-earn gaming platform Zupee in current weeks and proposed to probably lead a investment spherical of over $a hundred million, humans acquainted with the problem instructed Startup Times, the modern day in a chain of bets from the cloud offerings massive to make bigger its enterprise withinside the key remote places market.
The corporations haven`t reached an settlement and there may be an inexpensive threat the deal will now no longer materialize, the humans cautioned. A group inside Microsoft has expressed apprehension approximately optics round making a bet and suggested the worldwide tech massive to persuade farfar from the deal, someone briefed at the info stated.
Zupee declined to remark. Microsoft did now no longer reply to a request for remark overdue remaining month. Like many different startups which includes Oyo wherein Microsoft has invested in India, the Zupee deal sought to have the startup use Azure and different Microsoft cloud offerings as a part of the deal, humans acquainted with the problem stated.
The New Delhi-established Zupee — which has raised over $one hundred twenty million to date, which includes approximately $a hundred million in its Series B spherical that it closed in January this year — operates what it describes as a “skill-primarily based totally informal gaming” platform. The firm, which became remaining valued at $six hundred million, has garnered over 70 million downloads throughout board video games together with ludo, snakes and ladder, and gambling playing cards and carrom.
In January, it fashioned what it defined as a “first-of-its-type strategic” partnership with Jio Platforms, India`s biggest telecom operator with over 420 million subscribers. The corporations will paintings to construct an “surroundings in an effort to facilitate quicker and extra green improvement and distribution of merchandise and offerings,” Zupee stated in a press launch earlier.
The corporations haven`t reached an settlement and there may be an inexpensive threat the deal will now no longer materialize, the humans cautioned. A group inside Microsoft has expressed apprehension approximately optics round making a bet and suggested the worldwide tech massive to persuade farfar from the deal, someone briefed at the info stated.
Zupee declined to remark. Microsoft did now no longer reply to a request for remark overdue remaining month. Like many different startups which includes Oyo wherein Microsoft has invested in India, the Zupee deal sought to have the startup use Azure and different Microsoft cloud offerings as a part of the deal, humans acquainted with the problem stated.
The New Delhi-established Zupee — which has raised over $one hundred twenty million to date, which includes approximately $a hundred million in its Series B spherical that it closed in January this year — operates what it describes as a “skill-primarily based totally informal gaming” platform. The firm, which became remaining valued at $six hundred million, has garnered over 70 million downloads throughout board video games together with ludo, snakes and ladder, and gambling playing cards and carrom.
In January, it fashioned what it defined as a “first-of-its-type strategic” partnership with Jio Platforms, India`s biggest telecom operator with over 420 million subscribers. The corporations will paintings to construct an “surroundings in an effort to facilitate quicker and extra green improvement and distribution of merchandise and offerings,” Zupee stated in a press launch earlier.
