Exclusive – RummyBaazi Raises Seed Round of $2 Million

This seed round raised by the Delhi based parent company Baazi Games is for RummyBaazi from Udtara Ventures which is an existing investor. The value of the round is $2 million while Baazi Games themselves will be adding another $1 million to expand the platform. Udtara Ventures which is organised and run by members of the Kamla Pasand group known for their Kamla Pasand Pan Masala had previously invested $2 million in BalleBaazi back in 2019. The venture firm currently has a total fund size of $20 million and focuses on early-stage investments.

The funds as per Founder and CEO, Navkiran Singh will be used for product development and user acquisition. Before the seed funding round, RummyBaazi was valued at $14 million and currently has 5 million registered players on the app. Udtara Ventures has mentioned their interest and expectation of Baazi Group with their current product mix and future plans to be in a unique position to offer full-stack Real Money Games.

“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”, as said by Chairman of Udtara Ventures, Rajiv Chaurasia.

This fundraising round is part of recent capital infusions in other Real Money Games in the Indian market. Dream11 with its massive $225 million, HalaPlay, and Livepools have also raised funds in the past few weeks and represents the interest in investments in India, slowly picking up again.