Baazi Games is planning to invest $5 million (about Rs 35 crore) in Indian gaming industry by investing in gaming start-ups and towards development of technology.The investment is planned to take place during the next six months. The company will be looking to invest in innovative gaming start-ups and in developing latest gaming technology.
Baazi Games founder and CEO Navkiran Singh, said,”Baazi Games has played a major role in revolutionizing the way card games and fantasy sports are played in the country today. Our investment of $5 Mn in the Indian gaming industry will further catalyze the growth of the industry and pave way for newer innovations. With this vision, we hope to become a technology incubator in the industry and look forward to the bright future of gaming in India.”
Starting its journey with poker gaming app PokerBaazi, Baazi Games in the last five years has gained a good market share and an expansive user base of over three million while adding fantasy sports and rummy to its spectrum. With this investment, the company is looking to expand operations and explore the ever-so-growing potential of the ‘games of skill’ market in India, Baazi Games stated.
With this investment, the company is looking to expand operations and explore the ever-so-growing potential of the ‘games of skill’ market in India, it added.
The Indian gaming space is expected to grow at 22 per cent CAGR and has been attracting big investments in the last couple of years understanding that earlier this year, Baazi Games had invested $1 Mn in its fantasy cricket vertical, BalleBaazi.com