Online gaming startup BalleBaazi.com secures $4m from two PE funds

Photo: Reuters

Online fantasy gaming platform BalleBaazi.com has secured $4 million in a Series A funding round from two private equity funds based out of Singapore and Delhi, respectively, it announced on Monday.

No other details about the investors were disclosed.

BalleBaazi.com, which boasts of around 3 million users on its platform, will use the funds to expand its business to the newer markets and enhance the gaming experience for the users, it said in a statement. Besides, the company also plans to introduce more games under the umbrella of fantasy gaming, thus engaging with the audience across different genres of sports.

Its app is available for Android and iOS users.

Saurabh Chopra, co-founder & CEO, BalleBaazi.com said, “Online gaming industry in India is growing marvelously and is poised to grow even faster. The potential is huge and the funds will certainly pave way for newer innovations and catalyse our upward journey at BalleBaazi.’’

BalleBaazi.com had recently received a funding of $1 million from Baazi Games, its parent company. Moreover, the company has also signed the ace cricketer Yuvraj Singh as the brand ambassador.

Launched in 2014, Baazi Games’ portfolio also includes online real money games such as PokerBaazi.com and RummyBaazi.com.