(MENAFN- IANS) New Delhi, June 5 (IANS) After Mobile Premier League's successful global expansion, another Indian gaming company is preparing to launch outside the country.
Vernacular gaming platform Winzo is looking at starting operations in Brazil and has already put up a teaser website in Portuguese with the banner 'Coming Soon'.
This expansion marks an interesting departure for Winzo, a company that started by focusing on vernacular gaming in Tier 2 and Tier 3 markets in India by making its platform available in multiple Indian languages like Bhojpuri, Tamil, Telugu, Kannada, Marathi, Punjabi, among others.
While India is one of the largest gaming markets in the world, very few Indian gaming companies have achieved global success. In 2020, Ludo King became one of the top casual games riding on the pandemic boom. The Mobile Premier League (MPL), which recently announced its foray in Nigeria, is present in four continents. In 2022, MPL acquired Gameduell, a Berlin based company with operations across Europe.
Winzo's Brazil entry is likely to be from an entity based in Delaware, United States, as per information available on its website. Many US and global start ups prefer to incorporate in Delaware as the state offers very lenient tax incentives.
Winzoworld, the platform that is being launched in Brazil is starting with a suite of 20 games on a platform called and will offer pay to play games (also called real money games) in Brazilian Real.
WinZO's revenue from operations for the fiscal year ending March 2022 was Rs 234 crore and its losses had spiked up to 2.4X to 120.6 crore. According to market intelligence platform Traxcn, WinZO has raised a total funding of $92.7M over 7 rounds with the latest funding round in April, 2021 for $65 million.
--IANS
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