Delhi-based Baazi Games’ latest gaming venture RummyBaazi has raised $3 Million (~INR 22 Crore) in seed funding round from investment firm Udtara Ventures at a pre-money valuation of $14 Million. Baazi Games has also set aside $1 Million nearly (~INR 7.4 Crore) to boost product development and expand its marketing efforts.
Navkiran Singh, Founder and CEO of Baazi Games said, “As the country is continuously increasing its consumption of online gaming, it becomes essential for platforms like RummyBaazi.com to expand their product portfolio to cater to the audience’s needs. 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.”
RummyBaazi was incorporated in 2019 and has been able to scale its operations to accommodate 500,ooo players so far. The company operates with its guiding principle of ‘user-first’ offering a seamless and 360-degree experience of online gaming. Sunit Warriach, CEO of RummyBaazi said, “Baazi Games has been able to create a loyal user base by providing a rewarding experience over the years through online poker and fantasy sports. In order to enhance the experience for our users, we introduced RummyBaazi.com.”
Baazi Games, founded in 2014 also has other subsidiaries like BalleBaazi and PokerBaazi, along with RummyBaazi. BalleBaazi, which was founded in 2018, offers a gaming platform to cricket enthusiasts while PokerBaazi, launched as a poker room in 2014 offers a chance to play poker professionally.
This is Udtara Ventures’ second investment in the BaaziGames Network. Rajiv Chaurasia, Udtara Ventures’ chairperson said, “We have been part of this journey for the last couple of years, with an increasing user base backed by high player retention has reaffirmed our thesis about the sector. Hence, it was imperative to continue our partnership with one of the fastest-growing brands in the space.”
 Seed Funding : Seed funding or seed capital, is a form of securities offering in which an investor invests capital in a startup company in exchange for an equity stake or convertible note stake in the company.
 Pre-money valuation : A pre-money valuation refers to the value of a company before it goes public or receives other investments such as external funding or financing.