Delhi-based online fantasy gaming platform BalleBaazi.com has raised ₹28 crores in its Series A funding round from two private equity firms, one based in Singapore and the other in Delhi.
Founded by Saurabh Chopra in 2018, the startup boasts around 3 million user base. The latest funding will help the startup to expand to newer markets, enhance the gaming experience and introduce more games on its platform.
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 catalyze our upward journey at BalleBaazi.’’
BalleBaazi.com also raised ₹7 crores from Baazi Games, its parent company in April this year. It has signed Yuvraj Singh as the brand ambassador.
Navkiran Singh, Founder & CEO at Baazi Games said “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 USD 4M funding, we are all padded-up for game-defining performance in times to come!”
Baazi Games has launched online real money games like PokerBaazi.com for poker players, RummyBaazi.com for rummy players and BalleBaazi.com is its latest product for cricket enthusiasts
Dream11 currently occupies 90 percent of the domestic fantasy sports market, according to a joint report by the Indian Federation of Sports Gaming (IFSG) and KPMG.
The IFSG-KPMG report indicates that there are about 20 million fantasy gamers in India right now. In 2016, this number was just two million. The mass penetration of mobile 4G, triggered by Reliance Jio, has popularised fantasy sports (along with several other internet services) in the country.