Baazi Games to invest $5 Mn in the Indian Gaming Industry
New Delhi, 23 December 2019: With a vision to be at the helm of India’s fast growing gaming industry, Baazi Games plans to invest $5 Mn in the Indian gaming industry. The investment is planned to take place during the next 6 months. The company will be looking to invest in innovative gaming startups and in developing latest gaming technology.
Starting its journey with Poker gaming app PokerBaazi.com, Baazi Games in the last 5 years has gained a good market share and an expansive user base of over 3 Million while adding Fantasy sports and Rummy to its spectrum. With this investment, the company is looking to expand operations and explore the ever-so-growing potential of the ‘games of skill’ market in India.
The Indian gaming space is expected to grow at 22% CAGR and has been attracting big investments in the last couple of years.
In April 2019, Dream 11 entered the prestigious ‘unicorn’ club after the completion of a secondary investment by Steadview Capital.
Nazara Technologies also made investments into gaming startups like SportsKeeda and Qunami.
Commenting on the investment plans, MrNavkiran Singh, Founder and CEO, Baazi Games said,”Baazi Games has played a major role in revolutionizing the way card games and fantasy sports are played in the country today. Our investment of $5 Mn in the Indian gaming industry will further catalyze the growth of the industry and pave way for newer innovations. With this vision, we hope to become a technology incubator in the industry and look forward to the bright future of gaming in India.”
Earlier this year, Baazi Games had invested $1 Mn in its fantasy cricket vertical, BalleBaazi.com. BalleBaazi was also in the news when it raised $4 Mn in Series A funding from private equity funds in July 2019. The company also expanded its card games vertical by launching RummyBaazi.com.