Baadshah Gaming raises Round 2 funding
According to a press release sent out earlier today, Kolkata-based Oceanking Software Solutions LLP, that owns and operates online gaming start-up Baadshah Gaming, has raised an undisclosed amount in its next round led by Madhav Gupta, Co-Founder & Chief Card Shark. This is the 2nd round of funding for the start-up. Prior to this, Casino Pride Group had made an undisclosed investment which led to the acquiring of a 30% stake in the company.
Baadshah Gaming, is a Live and Online Gaming Portal that offers Poker, Fantasy League and Rummy. The company is also well known for its popular BLT live tournament series. Baadshah Gaming will use the funds raised to enhance the existing product and strengthen its live gaming properties Baadshah Live Tournaments (BLT) and Baadshah Live Poker Room at Casino Pride. They are currently undergoing a major overhaul and is all set to relaunch itself with a fresh new look and a completely revamped game client and mobile app. In addition to this, a total of 15 Crores will be used for marketing spends for the current year.
The team is working tirelessly to provide the players with a new and improved product that has a superior gaming experience. It has been redesigned keeping the players' needs in mind, a simplified gaming console, streamlined navigation and a more responsive layout. Once live, the company will offer a host of interesting tournaments and cash games to all kinds of high-stakes and low-stakes players.
Living up to its #SeriouslyFun tagline, there shall be a lot of fun promotions, offers, leaderboards and surprises for the players to enjoy. "The team at Baadshah comes with a combined expertise of over 50 years. With such a strong leadership at the helm and robust offline operations, we believe that Baadshah Gaming has the potential to emerge as one of the leading players in the online skill-based gaming market in India. We are happy to partner with the company and be a part of their growth story," said Rahul Khetrapal, Director at Casino Pride Group.
According to various studies, India's online gaming industry is expected to reach $1 billion by 2021 from the current $360 million, growing at a brisk 20% per annum. Besides, the current online gamer base of 120 million will swell to 310 million by 2021, with localisation, rising digital payments and better smartphone penetration driving growth.
"With the advent of mobile phones, the online gaming industry has seen an explosive growth in the past few years. We at Baadshah are focused on building a top-notch gaming experience that brings the thrills and credibility of the live gaming arena out onto the virtual world. The new infusion of funds comes at a right time that will help us achieve our vision of providing a smooth, safe, transparent, credible and seriously fun gaming platform for all the players," said Gupta.
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