Driffle Raises $3.4 Mn Seed Funding To Build Gaming Ecommerce Experience
Inc42 - Jaspree Kaur, 8 November 2022
Digital gaming marketplace startup Driffle has secured $3.4 Mn in its seed funding round led by BEENEXT.
JAFCO Asia, Taurus Ventures, Better Capital and White Venture Capital and angel investors including Kunal Shah, Maninder Gulati, Amit Damani, Archana Priyadarshani, and Arun Venkatachalam, among others have also participated in this round.
Founded in 2021 by Chetan Bhardwaj, Gaurav Kumar Jha, Mayank Chawla and Abhishek Kumar, Driffle offers varied games, digital gift cards, and gaming points to online gamers. It is currently operating in India, the US and UK.
Talking about the platform, Driffle said it allows users across the globe to procure games and allied offerings using their local currencies and conventional payment methods including UPI.
“Driffle offers the industry-demanded revamp and better customer experience for buyers and sellers internationally through their truly global model of business. We are very excited to partner with Driffle and thrilled to witness the exciting products the company has in the pipeline,” said Anirudh Garg, an investor at BEENEXT.
Driffle added that it offers low commissions and more transparent policies to online businesses selling games on the platform.
The startup will use the funds to hire talent for the product, engineering, marketing, and customer support teams. It will also deploy funds for product development, strengthening its infra and expanding further into newer markets.
“At Driffle, we enable instant delivery of our goods digitally, with simplified payment processes, overcoming the complications of payment fraud and cross-border distribution,” Chetan Bhardwaj, cofounder and CEO at Driffle, said.
According to the startup, the digital fraud rate in the global gaming sector increased by 68.6% between 2019–2021. To avert online fraudulent transactions, the startup claimed to have offered secured transactions to online gamers.
The Delaware and Bengaluru-based startup asserted that it has a presence in more than 100 countries and accepts more than 100 currencies.
As per a KPMG report, India’s gaming industry is anticipated to grow 3X to become a $3.9 Bn space by 2025. In addition, the number of Indian online gamers is likely to cross the 450 Mn mark by 2023.
Some of the homegrown gaming startups operating in the Indian gaming sector are Prime Venture Partners-backed Hitwicket, Better Capital-backed OWN and Elevation Capital-backed Turnip, among others.
