Online gaming startup Quizbee, a new entrant in the quiz space, has recently launched real money gaming application catering to quizzing enthusiasts.
Quizbee has announced that it has raised an undisclosed amount of funds through pre-Seed funding led by Kanodia Group. The Kanodia Group has been in operations in the cement industry for the last 30 years.
Abhinav Anand, CTO Intelligence Game Pvt. Ltd, said, “This funding will enable the Quizbee team to invest further in marketing to increase the user base. The fund will be used for making the application more visible in the real gaming space along with improvement of user experience on the application. Our goal is to reach 10 million users over the coming year with expected daily active user base of over a million,” he said.
Vishal Kanodia, MD, Kanodia Group said, the “Quizbee team has done a great job in bringing the application to life quickly’. In a short period, they’ve built an application that can create India’s leading real money social gaming community. We look forward to working with the team as they grow this application and take it to next level.”
According to a report by consulting major KPMG, the Indian online gaming market is expected to grow 113 percent to Rs 290 billion (or roughly $3.91 billion) by 2025 from Rs 136 billion (roughly $1.83 billion) in FY21. During the period, these gaming platforms are expected to attract 657 million users compared with 433 million now.
With a focus on competitive multiplayer gaming experiences, Quizbee’s mission is to provide knowledge-based gaming experience and cash prizes based upon the user’s knowledge, according to a press release.
The platform enables the users to compete live with other players for real cash prizes by properly and swiftly answering questions.
Amit Khaitan, CEO, Intelligence Game Pvt. Ltd, said, “Very few real money gaming applications in the educational domain are good. We intend to cater in this space and our goal is to have both casual and serious gamers engaged in a game which improves their knowledge as well. Thus, Quizbee has a clear edge over other online gaming platforms," he said.
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