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    Gaming community platform Turnip raises $12.5 million funding co-led by Greenoaks, Elevation Capital

    Synopsis

    The Bengaluru based startup will use the fresh funds to scale its presence across geographies including Southeast Asia and Latin America by the end of 2022. It will also use funds for hiring and product development.

    Turnip TeamETtech
    Turnip team.
    Mumbai: Online gaming community platform Turnip said it has raised $12.5 million in a funding round co-led by Greenoaks and existing investor Elevation Capital.

    The round also saw participation from SEA Capital, Vibe Capital, Andrew Chen (partner, Andreessen Horowitz), Harshil Mathur and Shashank Kumar (Razorpay founders), Akshay Kothari (COO, Notion), among others.

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    In January last year, the Bengaluru-based startup raised $1.6 million in a round led by Elevation Capital. The round also saw participation from Better Capital.

    Turnip, founded in 2020 by avid gamers Pooja Dubey and Aditya Sharma, helps creators form clubs, where they can stream or record their games for fans, talk on audio and video, text each other, run esports tournaments, and host masterclasses.

    Turnip also allows its users to stream and monetize their interactive experiences on existing platforms like YouTube, Facebook, and Twitch.

    It has 5 million users, up 60% from November 2020, of which 45% are from outside of India, spanning geographies including Southeast Asia, Latin America, the Middle East and North Africa, the US, and Europe.

    The company will use the fresh funds to scale its presence across geographies including Southeast Asia and Latin America by the end of 2022. It will also use funds for hiring and product development.

    Dubey and Sharma in a joint statement, said “Our goal is to build from India for the 2 billion+ gamers spread across the world. Gamers have been early adopters of technologies and this has created some of the most innovative and immersive consumer products globally — Discord, Streamlabs, Unity, Twitch, Axie Infinity, etc. We want to continue on this same legacy and become the global default home for mobile gaming communities.”

    “We believe that modern gaming is a fundamentally social experience,” said Neil Shah, partner at Greenoaks. “Today’s streamers and other creators want to cultivate deep, personalized, and persistent relationships with their fans, with a richness that’s impossible to achieve on Twitch or YouTube alone. Turnip is building a platform that transforms passive viewers into an actively engaged community, delighting fans while enabling new options for creators, from subscriptions, to events, to sponsorships, and more.”

    “The product puts gamers, a large proportion of digital creators today, at the centre and lets them imagine completely new experiences for their community. Turnip’s spectacular growth and global reach in the past year further cements our belief in their vision and we are thrilled to reaffirm our partnership in this latest funding round,” Mayank Khanduja, partner, Elevation Capital said.
    The Economic Times

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