Matrix-backed Zupee announces Strategic Partnership with Reliance Jio

• Increasing visibility in the Jio ecosystem
• First of its kind integration and cutting-edge tech & innovation partnership
• Massive distribution reach
• Partnership enables market growth for Zupee, which just completed a US$ 102 million series B round

January 6, 2022, New Delhi: Zupee, India's largest skill-based casual gaming company, has announced a first-of-its-kind strategic partnership with Jio Platforms Limited. This will entail integration of products and strong synergies in user engagement and distribution in a future-ready ecosystem that will benefit over 450 million users. With this new synergy, the aim is to build an ecosystem that will facilitate faster and more efficient development and distribution of products and services that will benefit Zupee customers. Jio users will be provided access to Zupee's rich repertoire of online skill- based games as well as other innovative products that Zupee develops.

With the new partnership in place, emphasis will be on rolling out more quality games in multiple languages to as many users as possible with the ambition of making Zupee the biggest gaming platform in India connecting India with Bharat. Over 150 million 5G handsets are expected to be sold before the commercial launch of 5G in India, and Zupee is aggressively looking to capture as much of the market as possible with this partnership with Jio.

Zupee will also benefit from the reach Jio currently has. Zupee games will be distributed to all the Jio customers. It will also be made available to Jio Phone customers. This will give Zupee the biggest reach of all gaming companies in India catapulting the fastest growing gaming start-up into the biggest gaming company in the country. This strategic partnership firmly cements the trust in the incredible growth and vision that Zupee brings to the table with key strengths in cracking winning game formats and monetisation in the Indian market.

Zupee recently completed US$ 102 million Series B funding round, with an extension of US$ 30 million that was already raised. The round saw participation from marquee investors such as WestCap Group, Tomales Bay Capital, Nepean Capital, AJ Capital, Matrix Partners India & Orios Venture Partners. This takes the total funds raised by Zupee to US$ 121 million. Previous investors include the Smile Group who partnered as a venture builder with Zupee. Zupee has over 70 million downloads in India and the new capital raise will help it grow its reach significantly.

The funds will be utilized for developing new products, enhancing immersive design experiences, expanding into new geographies, ramping up marketing, reach, penetration, research and innovation, and hiring top talent to further Zupee's ambition of building a platform rich with possibilities and meaningful connections. In 2022, Zupee will continue to develop new forms of purposeful entertainment that can engage, empower and entertain the users.

Dilsher Singh, Founder & CEO, Zupee, said, "Zupee has always been a behavioural science, human motivation & culture first start-up, bringing the best of India's engineering talent, creativity & storytelling abilities under one roof, pushing the boundaries of innovation, with user centric design and a tech-for-good approach. Jio is the perfect partner for this journey as we look to penetrate the remotest areas of India all the way to the most disadvantaged people to bring them into the fold. This resonates firmly with our idea of the internet of the future which would be open, permissionless, decentralized & limitless.

Indian smartphone exports are expected to increase from USD 3.6 bn in 2020- 21 to USD 55 bn in 2025-26 which is a 15x growth. As a home-grown start-up, we want to put Indian products and games on all those devices that can take the India story to the world. We will do this while continuing to make games that entertain and put smiles on the faces of millions of people around the world.'

"The timing for this partnership could not be better as we are going to be focusing on innovations in Edge Computing, Decentralised Data Networks and Artificial Intelligence, creating a truly global platform with the best that India has to offer. As we work towards building a robust feature rich platform, we never wish to lose sight of staying relevant and meaningful for the last mile and the underserved communities of the country. I remain equally bullish on enhancing the footprint of the Zupee Skilling Academy where we will be at the forefront of empowering the youth of our country for the future of work & jobs through our equal opportunity pillars and our collective efforts on deepening democracy.' he further added.

The gaming start-up is known for taking time-tested, popular games and reengineering them for mobile devices by making them competitive, engaging and entertaining. The user-centric, language-agnostic approach has meant that the games are popular with people across geographies and demographics.

About Zupee:
Zupee is an online skill-based gaming start-up based in India that is focused on innovating and creating games that engage, entertain and empower users. More information about the company and its founders is available at https://www.zupee.global/

About Matrix Partners India:
Matrix Partners India is an investment firm with approximately $1 billion under management. Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. Matrix India has invested in several market-leading companies such as Ola (mobility), Dailyhunt (mobile local language platform), Razorpay (payments), OfBusiness (B2B Commerce, fintech), Five Star Business Finance (SME lending), Ola Electric (electric vehicles), DealShare (social commerce platform), Stanza Living (tech-enabled student housing platform), OneCard (mobile-first credit card), Country Delight (D2C dairy & fresh foods brand), Jupiter(consumer Neobank), Mswipe (mobile POS), MoEngage (SaaS) and Zupee (leading skill-based gaming app) among others. Matrix India has advisory offices in Bangalore, Delhi and Mumbai. Matrix Partners has a global network of funds investing in the US, China and India, with approximately $5 billion under management. Further information is available at www.matrixpartners.in. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.