Total amount raised
$261 Million
Latest funding date
5/1/2022
Location
Hike has successfully raised funds through multiple rounds, attracting notable investors such as Republic Crypto and Tribe Capital. The platform was a social gaming experience, integrating Web2 and Web3 technologies to create new economic opportunities for gamers.
What Is Hike?
Hike, founded on December 12, 2012, was a blockchain gaming company based in New Delhi, India. The company was led by founder Kavin Bharti Mittal and had about 100 employees when it shut down. Hike was known for its Rush Gaming Universe (RGU), a social gaming platform that integrated Web2 and Web3 technologies to create new economic opportunities for gamers.
How Much Funding Has Hike Raised?
- Series A
- Amount Raised: $7M
- Date: April 2013
- Lead Investors: Bharti Soft Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of the platform.
- Venture Round
- Amount Raised: $14M
- Date: March 2014
- Lead Investors: Bharti Soft Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the user base and enhance platform features.
- Series C
- Amount Raised: $65M
- Date: August 2014
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series D
- Amount Raised: $175M
- Date: August 2016
- Lead Investors: Foxconn Technology Group, Tencent
- Valuation at Round: $1.4 billion
- Motivation Behind the Round: To support the transition from messaging to social gaming and crypto.
- Venture Round
- Amount Raised: Not disclosed
- Date: January 2022
- Lead Investors: Polygon
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development of Rush Gaming Universe (RGU).
- Corporate Round
- Amount Raised: Not disclosed
- Date: January 2022
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance corporate partnerships and strategic growth.
- Venture Round
- Amount Raised: Not disclosed
- Date: May 2022
- Lead Investors: Jump Crypto
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost hiring and product strategy for RGU.
Total Amount Raised: $261M. Three 2022 rounds were not disclosed.
Current Valuation: Not publicly disclosed
Key Investors
- Jump Crypto
- Details: Jump Crypto is the crypto division of Jump Trading Group, a proprietary trading firm. They focus on advancing the development and adoption of blockchain technology.
- Investment Focus Areas: Cryptocurrency, blockchain technology, Web3.
- Notable Investments: Hike, Solana, Terra.
- Tencent
- Details: Tencent is a Chinese multinational conglomerate holding company, known for its various internet-related services and products. It is one of the world's largest technology companies.
- Investment Focus Areas: Internet services, technology, gaming.
- Notable Investments: Epic Games, Tesla, Spotify.
- Foxconn Technology Group
- Details: Foxconn is a Taiwanese multinational electronics contract manufacturer. It is the world's largest provider of electronics manufacturing services.
- Investment Focus Areas: Manufacturing, technology, electronics.
- Notable Investments: Apple, Amazon, Google.
- Tribe Capital
- Details: Tribe Capital is a venture capital firm that focuses on using data science to identify and invest in promising startups. They are based in San Francisco.
- Investment Focus Areas: Technology, innovation, startups.
- Notable Investments: Carta, Bolt, Relativity Space.
- Republic Crypto
- Details: Republic Crypto is the crypto division of Republic Capital, a platform for private investing. They focus on democratizing access to investment opportunities in the crypto space.
- Investment Focus Areas: Cryptocurrency, blockchain technology, decentralized finance (DeFi).
- Notable Investments: Hike, Avalanche, Polkadot.
What's Next for Hike?
Founder Kavin Bharti Mittal announced the shutdown of Hike, including its US business, in September 2025, after India's ban on real-money gaming. He said the ban made global scaling of the nine-month-old US business difficult.
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