Microsoft has held conversations to invest in the Indian play-to-earn gaming platform Zupee in recent weeks and proposed to potentially lead a funding round of over $100 million according to two people familiar with the matter.
There is a chance that the deal won't happen because the two firms haven't agreed on anything. A person briefed on the matter said that a team within Microsoft advised the global tech giant to steer away from the deal because they were concerned about how it would be received.
Zupee didn't say anything. A request for comment from Microsoft was not responded to. Two people familiar with the matter said that the Zupee deal wanted the startup to use Microsoft cloud services as part of the deal.
Zupee, which has raised over $120 million to date, including about $100 million in its Series B round that it closed in January, operates askill-based casual gaming platform. Over 70 million downloads have been achieved by the firm, which was last valued at $600 million.
It formed a partnership with the largest telecom operator in India. Zupee said in a press release that the two firms would work to build anecosystem that will facilitate faster and more efficient development and distribution of products and services.
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