Online poker platform 9Stacks has raised Rs 28 crore in a Series A funding round led by WaterBridge Ventures and participated by its existing investors.
Interestingly, this is the first Series A round of funding for any online poker gaming platform in India. In December 2017, it raised around Rs 10 crore in an angel round.
The Delhi-based real money gaming startup will use the fresh capital to ramp up user acquisition, data analytics, machine learning, and product & market expansion.
Floated in April 2017 by Sudhir Kamath, Pratik Kumar, Abhinav Nigam, and Rishab Mathur, 9stacks develops games like Poker, Fantasy League, Rummy for multiple people.
It currently offers online real-money poker to customers in 24 Indian states, who can access its modern and secure poker platform on 9stacks, and on iOS, Android, MacOS, and Windows native apps.
Besides, the gaming platform has recently launched India’s first skills dashboard where gamers can carry out in-depth analyses of their own strategy.
The startup has over 1 lakh subscribers and more than 30 lakh hands of poker are being played every month on the platform, with monthly gross transactions exceeding $5 million per month, reveals the company’s press statement.
Companies like Dream 11, Ace2Three, RummyCircle, and Rummy Passion also offer real money gaming in India.
Last month, Dream11 had scooped up $100 million from Chinese conglomerate Tencent Holdings.