Leveraging the Indian Premier League fad in the country, the gaming company has also come up with leagues pertaining to IPL this season
BalleBaazi, one of the leading online cricket fantasy gaming platform launched last year in January, has received a funding of $1 million from Baazi Games, its parent company.
With this development, Baazi Games has consolidated its majority stake in the company.
“Baazi Games has recently invested $1 million in BalleBaazi owing to the tremendous scope in the segment of fantasy sports in India. We, as an online gaming startup in India, aim to expand our services at a time when the industry is witnessing a massive rise in numbers,” said Navkiran Singh, CEO of Baazi Games.
BalleBaazi has been launching several leagues to lure online gamers. Leveraging the Indian Premier League fad in the country, the gaming company has also come up with leagues pertaining to IPL this season.
Started in 2018, BalleBaazi has cemented its position among the top fantasy cricket platforms and claims to have around a million users per month engaging on the platform.
BalleBaazi plans to utilize the funds to further expand its verticals and introduce various innovative concepts to enhance the user experience.
Recently, eSports firm Dream11 joined the unicorn club with the company being valued at $1 billion. The company aims to double its user base from 50 million to 100 million by the end of the year.These investments are proof that India is betting big on the fantasy sports segment.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.