Oneiric Gaming has raised funds from entertainer Rannvijay Singha in a bid to extend its user base.

An organization proclamation said that it plans to extend its user base to 1 Mn users in the following 3 quarters. It is likewise hoping to extend through tier 1 and tier 2 urban sectors, and focus on South-East Asia as well.

It has anyway not revealed the sum raised from the entertainer.

Remarking on the venture, Singha said, “I’m focused on being associated with the organization’s system and enabling it to turn into the unicorn of the gaming universe.”

Avneet Singh, founder, and director of Oneiric Gaming said, “The organization will zero in on making thriving sports, fantasy, cards, and knowledge games that go beyond gaming. We see an enormous chance in diving deep into cards and sporting events like football, basketball, and more skilled-based games, which is the thing that we are expecting to work on later on financing.”

Established in 2020, by Avneet Singh, Oneiric has drawn more than 100,000 users with its in-house applications, since its origin.

In December last year, it had raised funds from Trishneet Arora, the founder, and CEO of TAC Security.

It offers various games including its lead item Bluff, a card game, alongside Mr. Bumper, Math Twister, RaceX, and Cricket Death Overs.

The statement said that soon, the organization would empower users to purchase coins in the Bluff Cards Game and money them on various platforms like a digital currency. Utilizing these tokens, users can play in-house games like Bluff and win prizes each week, it added.

Dawn Sector

The online gaming market in India is seeing powerful development. The industry, worth $543 Mn in 2016, developed by 17.3% to reach $1.027 Bn in 2020, as indicated by a report by EY-All India Gaming Federation (AIGF).

The Oneiric statement said that by 2025, analysts foresee industry will create more than $260 billion in income.

The progression of funds into the gaming startups has likewise been continuing forward up until this point. Last month, sports-tech unicorn Dream Sports, which runs fantasy gaming platform Dream11 brought $840 Mn up in a financing round led by Falcon Edge, DST Global, D1 Capital, Redbird Capital, and Tiger Global at an $8 Bn valuation.

Another fantasy game significant Mobile Premier League (MPL) transformed into a unicorn in September as it shut its Series E round by raising around $150 Mn from Legatum Capital, Accrete Capital, and Gaingels LLC, at a pre-money valuation of $2.3 Bn.

Credits: Inc42