Delhi-based online fantasy gaming platform BalleBaazi has successfully raised $4 million in Series A funding round from two private equity funds based out of Singapore and Delhi, local media reports.
Founded in January 2018, the fantasy sports site offers cricket fans an opportunity to use their knowledge of the sport on the platform for prizes.
The platform currently boasts a 3 million user base.
“The online gaming industry in India is growing marvelously and is poised to grow even faster. The potential is huge and the funds will certainly pave way for newer innovations and catalyze our upward journey at BalleBaazi,” said BalleBaazi CEO Saurabh Chopra.
The company has recently received around $1 million in funding from Baazi Games, its parent company.
The latest investment is part of a string of investments in the Indian gaming space, which include Dream 11, which secured funding from Steadview Capital in April, and Nazara Technologies, which invested in three startups in July.
Paytm First Games, formerly known as Gamepind, is also in talks with investors to raise around $25 million in funding.