Gaming community platform Turnip raises $12.5M to expand presence globally
Turnip-based community-based mobile gaming platform has raised $ 12.5 million or Rs 92 crore in a new Series A funding round to balance its presence in all areas, talent recruitment, and product development.
US Greenoaks and Elevation Capital led a new round. Other investors – SEA Capital, Vibe Capital, and leading founders, including Andrew Chen (Partner, a16z), Harshil Mathur & Shashank Kumar (Razorpay), Akshay Kothari (Notion), Geige Vandentop (Streamyard), Vidit Aatrey & Sanjeev Barnwal (Meesho), Gaurav Munjal & Roman Saini (Unacademy), Lalit Keshre, Ishan Bansal & Harsh Jain (Groww), Kalyan Krishnamurthy (Flipkart), and Sujeet Kumar (Udaan), also participated.
Elevation Capital is an investor returning to a startup. Prior to this, Elevation Capital had participated in a $ 1.6 million seed round at a Bengaluru-based mobile gaming platform.
Founded in April 2020 by IIT-Guwahati alumni Pooja Dubey and Aditya Sharma with the aim of rethinking the future of game interaction by helping create creators communities that make game distribution more interactive, social, and engaging activity.
Turnip allows game creators to create clubs, where they can broadcast or record their audience performances, talk/audio, text messages, run e-sports tournaments, and host large classes.
The forum supports a variety of creators, including live broadcasters, montage creators, esports organizations, college clubs, and groups of friends. Apart from this, it also allows its users to stream and monetize their interactive experience on existing platforms such as YouTube, Facebook, and Twitch.
With this funding round, Turnip aims to expand its presence in all areas, including Southeast Asia and Latin America by the end of this year. The startup has seen impressive growth over the past 12 months, increasing its user base from 250,000 users by 2020 to more than 5 million users by 2021 – more than 60% of this growth was natural, he said.
In addition, 45% of the total number of users are from outside India, which includes areas, including Southeast Asia, Latin America, the Middle East, North Africa, the US, and Europe.
“Our goal is to build 2 billion players from India all over the world. Gamers first embraced the technology and this created some of the world’s most popular and highly regarded consumer products – Discord, Streamlabs, Unity, Twitch, Axie Infinity, etc.
We want to continue this legacy and become a global home for mobile sports communities, ”Pooja Dubey and Aditya Sharma said in a joint statement.
Commenting on the investment, Neil Shah, a colleague at Greenoaks, said: “Turnip builds a platform that transforms viewers into an engaging community, entertaining fans while offering creators new options, from subscriptions to events, to sponsorship and more.
By affirming the mobile experience, we believe Turnip has democratic access to users worldwide, allowing anyone to become a creator or a follower, regardless of their device or hardware. ”
“Turnip’s impressive growth and global reach over the past year further strengthens our belief in their vision and we are delighted to strengthen our relationship in this recent round of sponsorship,” added Mayank Khanduja, a colleague, Elevation Capital.
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