Indian gaming startup GameXS receives angel funding from Lead Angels

Visual sourced from the GameXS website.

Online gaming store GameXS has secured an undisclosed amount in angel funding from Mumbai-based seed-stage angel network Lead Angels, according to a press statement.

The Gurgaon-based startup offers a collection of pre-owned Xbox 360, Xbox One and PS3, PS4, PS Vita, Wii U, PC games in India along with the unique ability to sell games back to them.

“The funds will be used to scale up operations, broaden product portfolio and build a larger team to make gaming more accessible and affordable to the Indian gamer,” Kabeer Jain, Founder & CEO of GameXS said.

GameXS.in  was founded by Kabeer Jain, an IIT Delhi graduate, in 2012.  Two years later, he was joined by another IITian Abhishek Jain as the company’s chief operating officer.

By combining successful models of re-commerce and crowdsourcing, GameXS helps gamers reduce their gaming costs by over 70%. The site has processed more than 10,000 sale transactions and close to 6000 trade-in transactions with a repeat customer rate of 50%, the statement said.

An avid and passionate gamer himself, Kabeer says, “Typical Indian gamer is passionate and reads a lot about games,  but is not able to play most of them because of high prices. By offering fair prices, simple and convenient checkout to buyers and sellers, and crazy fast pickups and deliveries, GameXS enables gamers to get to gaming quickly while getting the most bang for their buck.”

Going forward, GameXS plans to grow the pre-owned games market making gaming more accessible in India. Also game rentals, e-sports, merchandising, and gaming content development are some of the focus areas for the company.

Sushanto Mitra, Founder & CEO of Lead Angels said, “GameXS’ USP is their extensive collection of pre-owned games and consoles as well as their quality assurance that makes buying used games fast and hassle free as opposed to classifieds. In addition, with their proprietary trade-in algorithm, GameXS allows gamers to sell any game at any time at a fair price in just a few clicks. “

With a completely automated process, GameXS now offers free doorstep pickup within one day in over 5000 pincodes.

Lead Angels, which was started by a team of three originally from IIT Bombay,  works closely with student entrepreneurship cells, incubators and alumni networks and also invests in ideas at a conceptual stage. It currently has chapters in Mumbai, New Delhi, Ahmedabad, Hyderabad and Bangalore.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.