American multinational technology corporation, Microsoft has recently held some conversations to invest in Zupee, a well-known play-to-earn gaming platform based in India.
Apparently, it has also proposed to lead a funding round of around $100 million.
Sources claim that this investment is the most recent in a series of bets that the cloud services giant has made to proliferate its business in the key abroad market.
However, both firms have not reached the same agreement, and there is a reasonable chance that the deal may not materialize.
It has also been reported that a certain team within Microsoft has shown concern regarding optics around betting and has advised the tech major to let go of the deal.
Zupee refused to comment upon being quizzed, and Microsoft also did not divulge any details.
According to two people familiar with this move, the Zupee contract requires the business to use Azure among other Microsoft cloud services, like many other startups, such as Oyo, in which Microsoft has invested in India.
New Delhi-headquartered Zupee, which has raised $120 million until today, including around $100 million in its Series B round that was finalized this year in January, functions as a skill-based casual gaming platform.
The firm, which was previously valued at $600 million, has reportedly catered to around 70 million downloads through board games like snakes and ladder, ludo as well as playing cards and carrom.
According to credible sources, it established a partnership with Jio Platforms, India's largest cellular operator with more than 420 million subscribers in January, which it referred to as a first-of-its-kind strategic partnership.
In an earlier press release, Zupee stated that the two businesses would collaborate to create an environment that would promote the rapid and more efficient creation and delivery of products and services.
Source credit - https://techcrunch.com/2022/10/06/microsoft-explores-investment-in-indian-gaming-platform-zupee/