Microsoft has had conversations to invest in Indian gaming platform Zupee in recent weeks and offered to potentially lead a funding round of more than $100 million, two people familiar with the matter told TechCrunch, the latest d ‘a series of bets from the cloud services giant to expand its business in the key overseas market.
The two companies have not reached an agreement and there is a reasonable chance that the deal will not materialize, people have warned. A team within Microsoft has expressed apprehension about the betting optics and advised the global tech giant to walk away from the deal, a person briefed on the details said.
Zupee declined to comment. Microsoft did not respond to a request for comment late last month. Like many other startups, including Oyo, which Microsoft invested in in India, the Zupee deal was for the startup to use Azure and other Microsoft cloud services as part of the deal, two people familiar with it said. folder.
The New Delhi-headquartered Zupee, which has raised over $120 million to date, including around $100 million in its Series B which it closed in January this year, leverages what it describes as a “skill-based casual games” platform. The company, which was last valued at $600 million, has had more than 70 million downloads of board games such as ludo, snakes and ladders, playing cards and carrom.
In January, it formed what it described as a “first of its kind” strategic partnership with Jio Platforms, India’s largest telecom operator with more than 420 million subscribers. The two companies will work to build an “ecosystem that will facilitate faster and more efficient development and delivery of products and services,” Zupee said in a press release earlier.