Prime Venture Partners led a $3 million pre-series A round for Glip, a creator tool suite for gamers to create and monetise content.
Existing backers Better Capital and iSeed also participated in the round. Paavan Nanda (WinZO), Nilay Arora (Tencent), Suhail Sameer (BharatPe), Ravish Naresh (Khatabook), Vivek Hallekere (Bounce), Kumar Aakash (Matrix), and Misbah Ashraf (Jar) are just a few of the notable angels.
With 100 billion watch hours on YouTube Gaming and 40 million active YouTube Gaming channels by 2020, gaming content economy is one of the fastest growing digital media categories.
Glip, founded by Parth Choudhary and Ishan Shrivastava in 2020, has built three content creation tools: recording, streaming, and montage editing, and is now experimenting with monetisation tools such as live NFT auctions and stream modifiers.
Glip’s monetisation platform is based on cutting-edge web3 technology. Glip’s monthly active users have increased 400% to 2 million in just three months thanks to the funds raised in this round.
With Twitch taking a 50% platform cut and YouTube Live taking a 30% cut, alternative monetisation opportunities are gaining a lot of traction among creators. The company has established a strong foothold in India, the Philippines, Indonesia, Brazil, Eastern Europe, and has begun to enter the United States market.
In the past year, gaming companies in India and around the world have seen record funding and acquisitions, with Microsoft leading the way with its $68.7 billion cash acquisition of Activision Blizzard.
