Pocket52 Raises US$1.75 Million from Gameskraft

Pocket52 has raised US$1.75 million (approx. Rജs. 13.2 crores) from game publisher Gameskraft as part of its Ser🎃ies A funding.

Alᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚthough this news has only now been made public, Glaws has privately learnt that the deal was finalised in November 2019.

Commentingꩵ on the news, Nitesh Salvi, CEO and co-founder of Pocket52, said: "With Gameskraft on board as the lead investor, Pocket52 now has the additional operational, technological, and commercial flexibility ൩to develop innovative and exciting new partnerships and offer a broader customer choice."

Ramesh Prabhu, CFO of Gameskraft, added: "With the skill-based Real Money Gaming (RMG) space in India gaining whirlwind momentum especially in online p🤡oker, we are positive about our associatiℱon with Pocket52. We are confident that the future holds huge growth potential as the concept of shared liquidity pool is introduced in this market."

Gameskraft launche🀅d in 2017 and delivers web and mobile games with intuitive design and smooth user experience.

Pocket52 was seꦰt-up in 2018 by entrepreneurs, Nitesh Salvi, Saurav Suman, Debashish Bh🔯attacharjee, and Satyam Verma. It’s an online poker platform that boasts an innovative plug and play system, which allows other gaming brands to offer online poker on their existing platforms.

Users from all platforms can be linked, letting players share pools and compete against each other, regardless of which site or app they have logged🔯 in ♎from.

For operators, benefits include lower depositor and engagement costs, and the💮 chance of better reven💜ues from being able to offer bigger games and tournaments.

The Bangalore-based company currently works with partners including Mobile Premier League (MPL), Nostragamus❀, and Calling Station.

It claims to have nearly 100,000 🎶monthly active users playing poker on its platform, of which 70% are repeat players.

And like other online gaming firms in India, it has seen a rise in registrations and playing time under the COVID-19 lockdown, with its user base ✃growing five-fold.

Pocket52 has plans to raise another US$10 million (approx. Rs. 75 crores) of instituti꧅onal funding in the next three to six months and to add more games, like rummy, to its platform.

Plans to expand outside India and attract players worldwide to play against local users a💦re also in🐈 the pipeline.