Hike, founded by Kavin Mittal, has received further investment to explore with gaming and cryptocurrency

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Super app and messaging platform Hike, which shut down its basic operations in January this year, now has raised money from three notable investors: Mark Pincus of Zynga, Shishir Mehrotra of Coda, and serial entrepreneur Elad Gil of Elad Gil. The specifics of this transaction are being kept under wraps. Hike's CEO and founder, Kavin Mittal, broke the news on Twitter. Hike made the announcement after raising funds from top angel investors for the first time in five years in August 2021.

Tinder co-founders Justin Mateen and Sean Rad, SoftBank Vision Fund CEO Rajeev Misra, Tribe Capital's Arjun Sethi, Zeta's co-founder Bhavin Turakhia, Cred's Kunal Shah, Snapdeal's Kunal Bahl, and Rohit Bansal, and South Park Commons' Aditya Agarwal were among those who took part in the round. Hike was formed in 2012, and at the time, it was regarded as one of the fastest-growing unicorns (companies valued at or over $1 billion). Despite its inability to generate any revenue from operations, it was valued at $1.4 billion at its last $175 million financing in 2016.

Hike announced earlier this year that it would shut down its flagship chat service and focus on the gaming market. Over the last few years, significant technological advancements have opened the ground for massive disruption in social and gaming. There isn't much to distinguish between these two groups. Gaming is now intrinsically social, growing into a new way for people to hang out and connect in the virtual world.

In a previous news release, the company stated that it plans to experiment with social media and bitcoin. It also stated that a portion of the funds raised will be used to extend the company's product strategy and hire across departments. It has a workforce of over 160 people spread throughout 50 cities in India.

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