Turnip, a mobile-first gaming community platform, has raised $12.5 million in a Series A round co-led by Greenoaks and Elevation Capital. SEA Capital, Vibe Capital, and angels, including Andrew Chen (Partner, a16z and others have also participated.
Elevation Capital previously led the seed round of $1.6 million in the Bengaluru-based startup last year, with participation from Better Capital.
According to the two-year-old startup, the fresh capital will be utilized for strategic hiring and for scaling its presence across key geographies.
Founded in April 2020 by Pooja Dubey and Aditya Sharma, Turnip allows creators to form clubs, where they can stream or record their games for fans, talk on audio/video, text each other, run esports tournaments, and host masterclasses.
The Elevation-backed startup claims to have grown its user base from 250,000 users in November 2020 to over 5 Mn users in 2021 — over 60% of this growth has been organic.
To some extent, Turnip competes with streaming and e-sports platform Rooter which recently bagged $25 million in its Series A round led by Lightbox, March Gaming and Duane Park Ventures.