Dangal Games Raises $1 Mn In Series A Round; Will Foray Into Fantasy Games
The fund will be used to diversify the product portfolio and strengthen its technological infrastructure
New Delhi-based gaming startup Dangal Games on Wednesday announced raising of $1 million in Series A round from an undisclosed strategic investor.
The startup will be utilizing the fresh infused capital to expand its business to newer products. The company aims to become a leading player in the skill-based online gaming sector. The company will further foray into fantasy games before the arrival of next season of the popular IPL.
Founded by Varun Mahna, Varun Puri, Shashwat Jain, Karan Gandhi and Manan Sobti in 2017, Xeta Networks Pvt. Ltd, the parent company of Dangal Games, has tried to offer a range of services to its customers. Dangal Games’ PokerDangal, an India-based online poker platform has become an instant hit among Indians. Following the response, the startup launched RummyDangal in the last quarter to further consolidate their presence in the skill game industry. RummyDangal currently enjoys a customer base of around 5,00,000.
According to Varun Mahna, founder and chief operating officer of Dangal Games , “The fund would be used to diversify the product portfolio and build the tech capabilities of the business. The online gaming industry in India is surging like never before. After the pandemic, our whole platform endured an inclining power shot in acquisition and user-time spent. We also want to utilize the funds to grow the gaming ecosystem in the country and enable more gaming tech start-ups with investments.
The company will also be launching its casual gaming vertical in the next quarter.