Gaming platform Quizbee raises fund from Kanodia Group

L-R - Abhinav Anand & Amit Khaitan
Abhinav Anand & Amit Khaitan
Share

New Delhi: Online gaming startup Quizbee, a new entry in the quiz space has recently launched their real money gaming application catering to quizzing enthusiasts. 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. This platform enables the users to compete live with other players for real cash prizes by properly and swiftly answering questions. Quizbee is a platform, where people will use their knowledge of educational subjects or even sports and movies to compete against other knowledgeable opponents and earn real money in the process.

People who wish to compete will benefit from the platform since it allows users to track their development by competing against others. Quizbee is also a fantastic way to pass the time because there are interesting categories like sports and movies where individuals may compete with others and win money if they know a lot about the subject. Every room has a very small entry fee and the prize pool for the room gets created based on the entry given so as the user base grows the prize pool has the potential to reach lakhs of rupees.

Commenting on this development, Mr. Amit Khaitan, CEO, Intelligence Game Pvt. Ltd said that “We all know that there are very few real money gaming applications in the educational domain which 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.”

See also  Virsec Secures $100 Million “Show of Force” Investment as it Redefines How Software is Secured

Quizbee has announced that it has raised an undisclosed amount of funds through pre-seed funding led by Kanodia Group. The Kanodia Group, a pioneer in the Cement Industry, has been in operation in the cement industry for the last 30 years. The Group has rich experience in this industry and has always supported new and unique startups like Quiz bee.

“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. We intend to become the top performers in the knowledge base real money gaming space.” Added Mr. Abhinav Anand, CTO, Intelligence Game Pvt. Ltd.

Mr. Vishal Kanodia, MD, Kanodia Group commented that 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. Quizbee has fostered an inclusive, welcoming, and safe community for friends, family, and students to play and learn together. It enables the users to gain knowledge through entertainment. We look forward to working with the team as they grow this application and take it to next level.”

The market, which is set to witness 2.9 bn players worldwide by this year-end. According to a report by consulting major KPMG, the Indian online gaming market is expected to grow 113% to ₹290 billion (or roughly $3.91 billion) by 2025 from ₹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.

See also  Sentiments around China up by 16% in 2021 as US firms continue to rely for domestic supply, reveals GlobalData