With a vision to be at the helm of India’s fast-growing gaming industry, Baazi Games is planning to invest $5 million in the Indian gaming industry. The investment is planned to take place during the next six months. The company will be looking to invest in innovative gaming start-ups 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, Baazi Games has stated in a Press release.
Commenting on the investment plans, Mr Navkiran 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.
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 has Technologies also made investments into gaming start-ups like SportsKeeda and Qunami.