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Games24x7 Becomes India’s 99th Unicorn With $2.5 Billion Valuation

Games24x7 platform offers different games like My11Circle, Rummycircle, and U Games. According to the company, it has over a 100 million users. 

Games24x7 Becomes India’s 99th Unicorn With $2.5 Billion Valuation

The multi-game platform, Games24x7 which is based in India has just raised $75 million in an investment round that was led by venture capitalist firm Malabar Investment. According to a source, the valuation of this startup is now at $2.5 billion and this has made Games24x7 the newest unicorn in India. 

Other backers participating in the funding include existing ones like Raine Group and Tiger Global. They had previously also participated in investment in Games24x7 back in 2011 and 2012. 

Games24x7 was founded back in 2006 by Bhavin Pandya and Trivikraman Thampy and the platform offers users different games like My11Circle, Rummycircle, as well as U Games. According to the company, it has over a hundred million users. 

The fresh funds will be utilised by the startup to further accelerate its content development and user growth along with strengthening tech capabilities. Reports say that the gaming industry in India will reach $2 billion by the end of this financial year. 

Over the last few years, the company has made a reputation for innovation and personalisation of the player experience, along with AI prowess and developments in data science. It is now considered to be one of the, if not the foremost growing platforms for online games in India. 

Thampy was quoted as saying that the company was indebted to Malabar Investment for showing its faith in them and also thanked Raine Group and Tiger Global for continuing to invest in their growth. 

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