There’s a big demand for more gambling in India, with few choices available to the public. Pocket52, an Indian online poker site, is ready to meet that demand after completing a new seed funding round.
The Bengaluru-based poker site was founded earlier this year by Nitesh Salvi, Saurav Suman, Debashish Bhattacharjee and Satyam Verma. They boast a cryptographically secure Random Number Generator, termed RNG+, which they advertise as having passed “diehard” tests, which should give players some comfort.
The seed funding round was run by the early-stage venture capital firm Speciale Invest. Arjun Rao, General Partner at the firm, was jubilant in the press release, saying “We are excited to support Pocket52 in their vision. Their vision to bring technological innovations to the Indian online gaming sector. Of course, poker is their first game. They have a strong product differentiation around the game-play. Their integrity levels, fairness and high-quality player engagement, strengthens our confidence in them.”
The investor group included pro poker players Abhigya Sagar and Pranjal Batra, amongst others.
Although Pocket52 is not a new offering in India, but it is facing competition from the likes of Poker Raj and Poker Johny, who both launched earlier this year as well. This additional funding will help them grow their services so they can compete in a market that is quickly becoming competitive. In the press release announcing the funding round, the company expressed their intent to use the funds towards expanding their consumer business.
There will be plenty of demand for this expansion, as poker is really starting to explode in popularity. MTV India launched a Pro Hunt back in September, and poker players have been petitioning to see their game recognized as one of skill.
Rao is excited about the opportunities ahead for Pocket52, and explained why they were great partners to fund raise for. Rao said “the growth rate of the Indian online poker gaming industry is very high. It is a land of opportunities. Pocket52 has taken the technological lead in this space and we are happy to be a part of their growth journey.”