Online fantasy gaming platform BalleBaazi.com has raised $4 million (around ₹ 30 crore) in series A round. The funds were raised from two private equity funds based out of Singapore and Delhi, the company said in a statement.
The funds will be utilised to expand its business to newer markets and enhance gaming experience for users, which stands at around 3 million at present, it added.
“Online gaming industry in India is growing marvellously 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 CEO Saurabh Chopra said.
It also plans to introduce more games under the umbrella of fantasy gaming, thus engaging with audience across different genres of sports, the company said.
Recently, BalleBaazi.com had received funding of USD 1 million from Baazi Games, its parent company.
It had signed the former India cricketer Yuvraj Singh as brand ambassador. RKL SHW SHW
BalleBaazi.com, the leading online fantasy gaming platform launched last year in January, has received massive funding of $4 million from two private equity funds based out of Singapore and Delhi, in series A round.
Since its inception, BalleBaazi.com has cemented its position among the top fantasy cricket platforms and boasts of around 3 million user base engaging on the platform. With such a phenomenal response received from the gaming enthusiasts, the brand is all geared up to utilize the funds and expand its business to the newer markets and enhance the gaming experience for the users.
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.
“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,” said Saurabh Chopra, Co-founder, and CEO, BalleBaazi.com.
Resonating with its growth and expansion plans, 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 who has certainly enabled the brand to fortify its position in the world of fantasy games.
“BalleBaazi has played witness to a tremendous surge in growth during the recently concluded IPL and ICC World Cup 2019. From the signing-up of Yuvraj Singh as the brand ambassador to securing a $4 million funding, we are all padded-up for game-defining performance in times to come!,” said Navkiran Singh, Founder, and CEO at Baazi Games.