BalleBaazi, a Delhi-based online fantasy gaming platform, has raised $4 million (approx ₹28 crore) in Series A funding round from two private equity funds.
The company will utilise the capital to expand its business to the newer markets and enhance the gaming experience for users. Also, the firm also plans to introduce more games under the umbrella of fantasy gaming, thus engaging with audience across different genres of sports.
“The online gaming industry in India is growing marvellously and is poised to grow even faster. The potential is huge and the funds will certainly pave way for newer innovations and catalyse our upward journey at BalleBaazi,” Saurabh Chopra, CEO at BalleBaazi, said.
BalleBaazi was founded in 2018. The fantasy sports site offers cricket fans an opportunity to showcase their knowledge of the game, their team making skills, and in turn cash these skills by playing on the platform.
At present, the company, which claims to have cemented its position among the top fantasy cricket platforms, boasts of a 3 million user base engaging on the platform.
While, Navkiran Singh, founder & CEO at Baazi Games, said, “From the signing-up of Yuvraj Singh as the brand ambassador to securing $4 million funding, we are all padded-up for game-defining performance in times to come.”