Hike, backed by Kavin Mittal, left WinZO, a vernacular social gaming platform, for $ 12 million. It comes even as Hike launched his own gaming platform called Rush.
Hike previously participated in the $ 5 million Series A funding in WinZO in 2019 and received 4X returns in 18 months.
WinZO has raised an additional $ 13 million in capital from its existing investors – Stephan Pagliuca, Makers Fund and Courtside Venture. Those investors led the $ 18 million Series B to raise funds for WinZO in September 2020, bringing the three-year-old startup’s total to $ 38 million.
This year, Hike announced it was shutting down its main messaging business and launched a gaming app, Rush, similar to WinZO.