Online rummy platform RummyBaazi has raised a seed round of $2 million from its existing investor Udtara Ventures, with another $1 million funded by its parent organisation Baazi Games. The funds will be utilised to bolster the product & marketing strategies and expand RummyBaazi’s presence in the country.

Founded in 2014, Baazi Games comprises online real money games (RMG) like Pokerbaazi, RummyBaazi & Ballebaazi.

Founder & CEO of Baazi Games Navkiran Singh said that as India is experiencing a swift rise in online gaming consumption, it becomes necessary for platforms like RummyBaazi to expand its product portfolio to meet the needs of the audience in the country.

“Our expanding user base is testament to the efforts of RummyBaazi in providing its customers with the safest way to play. Given the scenario, we feel this is the perfect time to strengthen our game in the country and we are glad that Udtara Ventures saw potential in our ideas to scale it further,” he added.

Baazi Games said that before conducting this round, RummyBaazi was estimated to be valued at $14 million. Currently catering to a user base of five lakh players, RummyBaazi has been on an upward trajectory ever since its inception in 2019.

Chairman of Udtara Ventures Rajiv Chaurasia said that a rise in the number of smartphone users, increasing internet penetration & upgraded internet infrastructure have resulted in a massive boom in the online gaming industry & this trend is expected to keep on growing in a swift manner.

“We have been part of this journey for the last couple of years. 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”, he said.

“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,” he added.

The All India Gaming Federation (AIGF) recently stated that over 10% of online gamers in India are RMGs, who contribute to a Rs 2,000-crore industry which is estimated to grow 3.5x by the year 2025. These gamers are always ready to up the stakes & will occupy a “significant wallet share” in the future.

AIGF CEO Roland Landers recently told YourStory recently, “Online card games and digital sports have seen a higher uptick in the lockdown as people looked for ways to pass time indoors. The volume of data going towards online gaming has been growing, and will continue to grow if this situation persists.”

Source; Gaming360