Pumping its position in the skill gaming space and ready to provide strong presence for the company in Bengaluru, US-based gaming platform Junglee Games, has acquired Algorin TechLabs, another gaming platform, cited Mint.
Post the acquisition, the team of 20 people from Algorin TechLabs along with the founders have joined Junglee Games to build products focused on fantasy sports and help expand presence in the Indian market.
Ankush Gera, founder & CEO of Junglee Games said, “I have known Vijay and Abhishek for the past few months and recognize Algorin TechLabs as an extremely talented and high-performance team which has taken significant strides in building skill based games like PlayFantasy and JustKhel. With the two businesses coming together, we at Junglee Games are excited to look forward to the next phase of skill games and the untapped $150 billion market.”
Algorin TechLabs was co-founded in 2017 by Vijay Varma and Abhishek Bharti and was instrumental to introduce PlayFantasy and JustKhel – skill-based daily fantasy sports’ platforms for serious gamers with close to real-match scoring.
Junglee Games, on the other hand, was founded by Ankush Gera in 2012. The gaming platform Junglee Games operates from San Francisco and Delhi and has over 250 employees between San Francisco, Hong Kong, Austria, India, Vancouver, Argentina and Poland.
Junglee Games has paved the way for a new class of games where gaming enthusiasts can win prizes and cash. Overall, it is helping build a community of players who use their cognitive skills and allow users to compete with real players from across the country.
While, in the past five years, the skill gaming industry has grown to an industry worth $500 million annually. A large part of that revenue is generated by fantasy sports.
Abhishek Bharti, Co-Founder of Algorin TechLabs said, “We are thrilled to be joining the team at Junglee Games which has charted a high growth path in the skill-based game space and has successfully created a global community of 25+ million gamers. Culturally, both the companies are aligned and now with Howzat, we hope to combine our knowledge and tech expertise in order to produce high skill games for the ever increasing demand in the country.”