You can be on Entrepreneur’s cover!

RummyBaazi Secures $3 Mn from Udtara Ventures and its Parent Baazi Games Of the total funding, Baazi Game has set aside $1 million, while its existing investor Udtara Ventures pumped in $2 million seed capital.

By Shipra Singh

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

RummyBaazi

Online gaming platform RummyBaazi has raised USD 3 million through a mix of seed funding and capital infusion from its parent organization Baazi Games.

Of the total funding, Baazi Game has set aside USD 1 million, while its existing investor Udtara Ventures pumped in USD 2 million seed capital.

Before this round of funding, RummyBaazi was valued at USD 14 million, said the company.

Also Read: Here's Why More Investors Are Turning To the Online Gaming Industry

Delhi-based Baazi Game was founded in 2014 by Navkiran Singh with poker as the first game offering. Overtime, the company has launched two more real money games (RGMs)—fantasy sports (BalleBaazi) and rummy (RummyBaazi) in the year 2018 and 2019, respectively, to cater to the rapidly increasing appetite for online gaming.

"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 platforms in the country," said Sumit Warriach, CEO, RummyBaazi.

Commenting on the same, Singh, founder and CEO, Baazi Game said "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."

Baazi Games claims to have served over 50 lakh users so far, with RummyBaazi alone having catered to more than 5 lakh players within a year of its inception.

Also Read: Gaming Platforms Rejoice, Witness Massive Surge Amidst Covid-19

"Our expanding userbase is testament to the efforts of RummyBaazi.com to provide 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're glad that Udtara Ventures saw potential in our ideas to scale it further," Singh added.

Earlier in 2019, Udtara capital had invested USD 2 million in Baazi Game's fantasy sports arm BalleBaazi.

"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," said Rajiv Chaurasia, Chairman, Udtara Ventures.

Also Read: 5 Reasons to Invest in the Online Poker Gaming Industry

With the fresh funding, RummyBaazi aims to advance its product enhancements and strengthen user's trust through its marketing strategies.

Shipra Singh

Entrepreneur Staff

Freelance Journalist

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Side Hustle

This Insurance Agent Started a Side Hustle Inspired By Nostalgia for His Home State — Now It Earns Nearly $40,000 a Month

After moving to New York City, Danny Trejo started a business to stay in touch with his roots — literally.

Growing a Business

Stanford Professors On the Counterintuitive Strategy That Helps Google Hire Top Talent

We assume that the best processes are seamless, but a little friction can go a long way.

Innovation

How Corporate 'Intrapreneurs' Can Harness the Power of AI to Transform Their Businesses and Supercharge Their Careers

Corporate intrapreneurs are uniquely positioned to lead the charge in harnessing the transformative power of artificial intelligence within their organizations. Here is how and why.

Management

HR Could Be Withholding The Critical Data You Need to Boost Retention and Drive Results. Here's How to Take Control and Gain Access

To get people data into the hands of managers so they can use it to drive business results, companies must break down barriers between HR and the rest of the organization

Business News

Google's 'Find My Device' Will Finally Roll Out to Android Phones. Here's Why It Was Delayed.

Both Android and Apple iOS users will receive unknown tracker alerts on the Find My Device network.