# Zupee

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zupee

- Industry: Internet
- Headquarters: Gurugram, India
- Website: www.zupee.global
- Total disclosed funding: $102M
- Latest round: Series B (Jan 19, 2022)
- Investors on record: 8

## About

Based in India, Cashgrail Private Limited operates as Zupee is an online gaming application that specializes in casual and board game sectors. Founded in 2018 by Dilsher Malhi (CEO) and Siddhant Saurabh, and based in Gurgaon, India, Cashgrail Private Limited doing business as Zupee is an internet-based gaming company that specializes in skill-based games that pay out real money. ?In?November 2025, Zupee, a portfolio company of?Alpha Wave Global, Orios Venture Partners, Smile Group, Z47, Tomales Bay Capital, Nepean Capital, Westcap Management, QED Innovation Labs, and LogX Ventures, acquired? Nucanon from Antler, Futureverse Corporation Ltd, Outlier Ventures, Skalata Ventures and Paperclip Partners. The firm offers a range of games such as Ludo Supreme, Ludo Ninja, Snakes & Ladders Plus, Trump Cards Mania, and Zupee CricketBaaz, where users can play and win money within 10 minutes. The platform emphasizes legal and secure real money gaming, with RNG-certified games and instant withdrawal of winnings. Zupee generates revenue by hosting skill-based real-money games like Ludo and Carrom, charging platform fees on paid tournaments. It also leverages user engagement, game diversification, and partnerships to sustain growth while offering free-to-play options for broader reach. ?In?November 2025, Zupee, a portfolio company of?Alpha Wave Global, Orios Venture Partners, Smile Group, Z47, Tomales Bay Capital, Nepean Capital, Westcap Management, QED Innovation Labs, and LogX Ventures, acquired? Nucanon from Antler, Futureverse Corporation Ltd, Outlier Ventures, Skalata Ventures and Paperclip Partners. The acquisition enables Zupee to integrate Nucanon’s AI-driven storytelling technology into its platform, allowing creators to build interactive narratives and dynamic worlds that enhance user engagement at scale.

## Funding rounds

- Series B, Jan 19, 2022, $54M — Orios Venture Partners, Z47, Tomales Bay Capital, AJ Capital, Nepean Capital, Westcap Management
- Series B, Sep 9, 2021, $31M — Orios Venture Partners, Z47, Tomales Bay Capital, Westcap Management
- Series A, Jan 19, 2021, $9.6M — Z47, Westcap Management
- Series A, Apr 3, 2020, $6.2M — Alpha Wave Global, Orios Venture Partners, Smile Group, Z47, Westcap Management
- Series A, Mar 20, 2020, $0.9M — Orios Venture Partners, Smile Group

## Investors

- Orios Venture Partners (https://capitalatlas.ai/funds/orios-venture-partners) — Series A, Series B
- Smile Group (https://capitalatlas.ai/funds/smile-group) — Series A
- Alpha Wave Global (https://capitalatlas.ai/funds/alpha-wave-global) — Series A
- Z47 (https://capitalatlas.ai/funds/z47) — Series A, Series B
- Westcap Management (https://capitalatlas.ai/funds/westcap-management) — Series A, Series B
- Tomales Bay Capital (https://capitalatlas.ai/funds/tomales-bay-capital) — Series B
- AJ Capital — Series B
- Nepean Capital (https://capitalatlas.ai/funds/nepean-capital) — Series B