Paytm First Games Gets $ 5.4 Million from AGTech Media

Paytm First Games, backed by Alibaba Group and One97 Communications Limited, has raised INR 40.75 Cr (approximately $ 5.4 million) from AGTech Private Limited. According to the report, 4.2 million equity shares of the gaming company were invested by AGTech Media.

Paytm First Games has recently claimed that amid a nationwide lockdown due to COVID-19, India has seen a 200% increase in its user base. The Paytm First Games app had 45 million users in 2019, according to a platform state report. According to the website, the gaming platform hosts over 200 games including fantasy cricket, Kishore Patti, Ludo, 8-. Ball, live quiz and rummy.

The company recently received INR 48.79 Cr ($ 6.6 Mn) from Paytm Entertainment in March 2020. Paytm First Games recently held its first esports tournament ‘Clash Royale’ from 10 to 12 April in partnership with game developer and publisher Supercell. The tournament’s prize pool was INR 4 lakh.

Paytm First Game was launched in February 2018 in JV with AGTech named Gamepind. It was rebranded in June 2019.