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Startups positioning India for exponential economic growth: Zupee founder Dilsher Malhi

Economic TimesEconomic Times ยท 6m ago
Startups positioning India for exponential economic growth: Zupee founder Dilsher Malhi
Medial

Startups in India are contributing to society by revolutionizing experiences in various sectors, such as education, healthcare, travel, and entertainment, according to Dilsher Malhi, CEO of Zupee. India's startup ecosystem has thrived due to its efficient digital infrastructure and widespread mobile phone usage. With the government's focus on initiatives like Bharat 6G and AI, startups are positioning India for significant economic growth. Malhi also highlighted the transformative potential of startups in diverse fields, such as gaming technology being used for surgical training and reducing travel time in the oil and gas industry. Indian startups are disrupting traditional e-commerce models dominated by foreign players with their instant delivery services.

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Indian startups disrupting ecommerce dominance of foreign players with instant delivery model: Zupee CEO

Economic TimesEconomic Times ยท 6m ago
Indian startups disrupting ecommerce dominance of foreign players with instant delivery model: Zupee CEO
Medial

Indian startups are disrupting the ecommerce market previously dominated by foreign players through innovative instant delivery models, according to Dilsher Singh Malhi, CEO of Zupee. He highlighted the transformative role of Indian enterprises in the digital economy, attributing their progress to government support and policy frameworks that foster innovation. Malhi praised India's emergence as the third-largest startup ecosystem and expressed optimism about initiatives like Bharat 6G Vision and the AI Mission. He emphasized the role of startups in redefining various sectors such as education, healthcare, travel, and entertainment, and highlighted the transformative impact of AI and blockchain technologies.

Zupee posts Rs 146 Cr profit after tax in FY24

EntrackrEntrackr ยท 2m ago
Zupee posts Rs 146 Cr profit after tax in FY24
Medial

Zupee posts Rs 146 Cr profit after tax in FY24 Real money gaming firm Zupee recorded over Rs 1,100 crore revenue in the fiscal year ending March 2024. Moreover, it also turned profitable during the same period, posting a net profit of Rs 146 crore. Zupeeโ€™s revenue from operations grew by 35% year-on-year to Rs 1.123 crore in FY24 from Rs 832 crore in FY23, the company said in its press release. According to the company, FY24 was a period of strong, broad-based growth for Zupee with a 60% increase in its registered user base. The company stated that it consolidated its leadership in traditional North Indian markets while expanding its footprint across the country. Founded by Dilsher Singh Malhi and Siddhant Saurabh, Zupee offers real-money games such as Ludo, Snakes & Ladders, Trump Cards, and Tombola. By the end of FY24, the platform claimed over 100 million registered users. Dilsher Singh Malhi, Founder & CEO of Zupee, said, โ€œFY24 was a landmark year as the company turned profitable, scaled rapidly, and created a new category in Indiaโ€™s gaming space." He credited the growth to culturally rooted games and a strong focus on innovation, compliance, and responsible gaming. Zupee has raised $121 million to date, including its $102 million Series B round led by Nepean Capital in 2022. According to the startup data intelligence platform TheKredible, Nepean Capital is the largest external stakeholder with 19.61%, followed by Westcap and Seminal Digital. Zupee competes with players like Gameskraft, which reported Rs 3,500 crore in revenue and Rs 947 crore in profit, as well as Winzo, Playsimple Games, and others.

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