Total amount raised
$261 Millions
Latest funding date
05/01/2022
Location
Hike has successfully raised funds through multiple rounds, attracting notable investors such as Republic Crypto and Tribe Capital. The platform is a social gaming experience, integrating Web2 and Web3 technologies to create new economic opportunities for gamers.
Keep reading to explore the intricacies of Hike's fundraising journey and the investors backing this innovative platform.
What Is Hike?
Hike, founded on December 12, 2012, is a blockchain gaming company based in New Delhi, India. The company is led by founder Kavin Bharti Mittal and employs between 101-250 people. Hike is known for its Rush Gaming Universe (RGU), a social gaming platform that integrates 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
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?
Hike's future is brimming with opportunities, particularly in the social gaming and Web3 sectors. With the Rush Gaming Universe (RGU) clocking over 160 million gameplays every quarter and 1.8 million monthly active users, the potential for growth is immense. The company aims to leverage India's mobile-first market to bring the next billion users on-chain, creating new economic opportunities through gaming.
Future fundraising looks promising, with continued interest from venture capital and private equity firms. The recent investments from Jump Crypto, Tribe Capital, and Republic Crypto indicate strong confidence in Hike's vision. These funds will be crucial for expanding the team and enhancing the product strategy for RGU.
However, Hike faces significant challenges, including competition from established global platforms and navigating the regulatory landscape for crypto and gaming in India. Maintaining user engagement and ensuring a seamless user experience will be critical as the company scales its operations. Despite these hurdles, Hike's innovative approach and strategic partnerships position it well for future success.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Hike and gather other critical business insights. Sign up for free and start making data-driven decisions today.
