RummyBaazi, the platform run by Baazi Games has announced raising $2 million in seed round funding from existing investor Udtara Ventures. Baazi Games, the parent firm of the rummy-focused platform, will also put another $1 million investment.
RummyBaazi was incorporated in 2019 and since then has been managed to get a very good userbase as it claims to have more than 500K users on the platform. Navkiran Singh, the founder of Baazi Games, had co-founded by Sunit Warriach who is the CEO of the firm. The company revealed that before this round of investment, the firm was valued at $14 million.
Singh, talking about the investment round said that "Our expanding user base is testament to the efforts of RummyBaazi in providing its customers with the safest way to play. Given the scenario, we feel this is the perfect time to strengthen our game in the country and we are glad that Udtara Ventures saw potential in our ideas to scale it further."
Udtara Ventures' Chairman Rajiv Chaurasia through a statement said that "We have been part of this journey for the last couple of years. 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."
Baazi Games apart from operating RumyBaazi runs two more big gaming platforms that include the cricket-focussed BalleBaazi and poker-based PokerBaazi. They all have been doing pretty well in their domain. It will be interesting to see how the company utilizes the fresh funds to take RummyBaazi to an even bigger audience in the country.
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