# Zupee funding: rounds and investors

> Zupee has raised $73M across 2 rounds since 2019. Investors include Matrix Partners India, Alpha Wave Global and Smile Group. Every round with its source.

Source: https://millionrounds.com/company/zupee (Millionrounds; every figure on the page links to its filing or article)

India · [Series B startup](https://millionrounds.com/companies)

# Who invested in *Zupee*

2 rounds we have observed, with the 3 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Consumer Apps Gaming

Valuation: $600M, Oct 2024

Funding summary Updated 26 Oct 2026

**$73M** raised across 2 rounds since 2019, from 2 sources

**$1.0M** Seed **$72M** Series B

- **Latest round:** Series B, $72M Jan 2022
- **Step-up i:** 72×
- **Investors:** 3

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2020 2021 2022

**$1.0M** Seed

**$72M** Series B

- **First round:** Seed, $1.0M
- **Biggest round:** $72M
- **Between rounds:** 2.8 years

## The rounds

- **Jan 2022** Series B **$72M** *2 new* [Matrix Partners India](https://millionrounds.com/fund/matrix-partners-india) [Alpha Wave Global](https://millionrounds.com/fund/alpha-wave-global) Source recorded
- **Apr 2019** Seed **$1.0M** *1 new* [Smile Group](https://millionrounds.com/fund/smile-group) Reported by VCCircle

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Seed** 2019 **Series B** 2022 [Matrix Partners India](https://millionrounds.com/fund/matrix-partners-india) [Alpha Wave Global](https://millionrounds.com/fund/alpha-wave-global) [Smile Group](https://millionrounds.com/fund/smile-group)

## Everyone who backed them

[Matrix Partners India](https://millionrounds.com/fund/matrix-partners-india) VC firm **1** round

[Alpha Wave Global](https://millionrounds.com/fund/alpha-wave-global) Private equity **1** round

[Smile Group](https://millionrounds.com/fund/smile-group) Venture studio **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=zupee).

## Quick answers about Zupee

### Who invested in Zupee?

Zupee's investors include Matrix Partners India, Alpha Wave Global and Smile Group.

### How much has Zupee raised?

Zupee has raised $73M across 2 rounds since 2019.

### When did Zupee last raise?

Zupee's most recent round was a Series B of $72M in Jan 2022.

### What was Zupee's biggest round?

Its most recent round, $72M in Jan 2022, is also its largest on record.

### Who backed Zupee first?

Zupee's first round on record, in Apr 2019, was backed by Smile Group.

### What stage is Zupee at?

Zupee's latest named round is a Series B, in Jan 2022.

### Where is Zupee based?

Zupee is based in India.

## Companies like Zupee

In the same sector, and raised in the last eighteen months.

[**StockGro** $28M · Oct 2026](https://millionrounds.com/company/stockgro)[**ARC** $1.1M · Sept 2026](https://millionrounds.com/company/arc)[**1312 Interactive** $1.0M · Sept 2026](https://millionrounds.com/company/1312-interactive)[**BharatPe** $67M · Sept 2025](https://millionrounds.com/company/bharatpe)[**Mika Games** $10M · Oct 2026](https://millionrounds.com/company/mika-games)[**Punch** $11M · Oct 2026](https://millionrounds.com/company/punch)

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