Zupee has laid off its entire workforce, according to sources familiar with the matter. The Delhi NCR gaming startup framed its October 16 exit from gaming as an AI pivot. The move was a veiled attempt to present an impending shutdown, sources told Inc42.
Severance and layoffs
Affected employees received severance pay covering the period until January 2027. The final layoff round coincided with the company's public announcement about building AI-led ventures. Zupee previously cut around 200 employees 10 months earlier and nearly 170 before that.
Company background
Founded in 2018 by Dilsher Singh Malhi and Siddhant Saurabh, Zupee built mobile versions of traditional Indian games. Its titles included Ludo, Snakes and Ladders, and Carrom. The startup had raised over $120 million from investors including Z47, Orios Venture Partners, and Nepean Capital.
What the shutdown covers
Zupee also shut down its astrology platform NeoAstro and its microdrama venture Zupee Studio in October. The company had entered the microdrama segment and was in advanced discussions to acquire Vertical TV. That proposed acquisition later fell through.
Zupee now has no employees left except 3 to 4 people working with the founders, sources said. Questions remain about the startup's remaining cash reserves, assets, and liabilities. Investors contacted by Inc42, including Z47 Partners and Nepean Capital, did not respond.
Read more: inc42.com