Pocket52 Raises US$1.75 Million from Gameskraft

Pocket52 has raised US$1.75 million (approx. Rs. 13.2ꦰ crores) from game publisher Gameskraft as part of its Series 🃏A funding.

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

Commenting 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 op🍃erational, technological, and commercial flexibility to 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 poker, we are positive about ou💜r association with Pocket52. We are confident that the future holds huge growth potential as the concept of shared liquidity pool is introd🌱uced in this market."

Gameskraft launched in 2017 and d🌳elivers web and mobile games with intuitive design and smooth user experience.

Pocket52 was set-up in 2018 by entrepreneurs, Nitesh Salvi, Saurav Suman, Debashish Bhattacharjee, 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 all𒀰 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 engꩲagement costs, and the chance of better revenues🎶 from being able to offer bigger games and tournaments.

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

It claims to have nearly 100,000 monthly ac🤡tive 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 registrat✅ions 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 institutional funding in the next threeℱ to six months and to add more games, like rummy, to its pl✱atform.

Plans to expand outside India a💛nd attract players worldwide to play against local users are ⭕also in the pipeline.