RummyBaazi.com has raised USD 2 Million from Udarta Ventures in a seeding round, and has been infused with another USD 1 million from its parent company Baazi Games to strengthen the product portfolio of the rummy platform. RummyBaazi.com was valued at USD 14 Million before this round of funding.
Udarta Ventures had previously invested USD 2 million in Baazi Games’ fantasy sports platform BalleBaazi.com in 2019.
Commenting on the current funding, Rajiv Chaurasia, Chairman, Udtara Ventures said, “With an increase in the number of smartphone users, rising internet penetration & improved internet infrastructure have led to a huge upsurge in the Online Gaming Industry and this trend will continue to grow rapidly. We have been part of this journey for the last couple of years, with an increasing user base backed by high player retention has reaffirmed our thesis about the sector. Hence, it was imperative to continue our partnership with one of the fastest-growing brands in the space. We have scaled up our investment in RummyBaazi.com. The team has been part of the Real Money Gaming space for over a decade now, and we believe that their knowledge and industry experience will help Baazi Group to emerge as a market leader with a unique position as a full-stack RMG platform. Excited, and looking forward to the amazing journey ahead of us!”
Navkiran Singh, Founder & CEO, Baazi Games, added, “As the country is continuously increasing their consumption of Online Gaming, it becomes essential for platforms like RummyBaazi.com to expand their product portfolio to cater to the audience needs. Our expanding userbase is testament to the efforts of RummyBaazi.com to provide its customers the safest way to play.. Given the scenario, we feel this is the perfect time to strengthen our game in the country and we’re glad that Udtara Ventures saw potential in our ideas to scale it further.”
RummyBaazi.com was launched in 2019, and, in a span of about a year, it has gathered a user base of over 5 lakh users.
Speaking about the rummy platform, Sunit Warriach, CEO of RummyBaazi.com, said, “Baazi Games have been able to create a loyal user base by providing the most seamless and rewarding experience over the years through online poker and fantasy sports. In order to enhance the experience for our users, we expanded our product line by introducing RummyBaazi.com and through our hard work and constant endeavour we have been successful in making it one of the most rewarding online rummy platform in the country. It gives us immense pride for one of our existing investors to show interest and strengthens our vision of taking it to the next stage.”
As per a report in BW Disrupt, the funds raised by RummyBaazi.com will be used by the platform to enhance its offering and features and to promote trust among users through its marketing strategies.
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