Online Gaming Platform 'PlayerzPot' Raises $3 Mn in a Series A Funding Round

• Online Fantasy Games has become more common in the last 2 decades and shockingly it has secured top gear in India.
• With the fresh capital, the company aims to accelerate technological innovation, enhance brand building.
• Recently, PlayerzPot roped in cricketers Bhuveshwar Kumar and Smriti Mandhana as its brand ambassadors.

PlayerzPot, a Mumbai-based fantasy gaming startup, said it has raised $3 Million in a Series A round of funding. However, the details of the investors are not revealed yet.

The online gaming industry in India is growing tremendously and is expected to multiply at an unprecedented rate. There is huge untapped market potential, and the funds will help the brand scale higher while also paving the way for the latest innovations, Yogesh Doiphode, the founder of PlayerzPot, said in a statement.

With the fresh capital, the company aims to accelerate technological innovation, enhance the brand building and user experience, make advancements in RMG, the company said in a statement.

The startup has recorded 3x growth in its revenue and 2x growth in its user base during the recent IPL 2020. According to a statement issued by the startup, it has recorded its highest growth from Tier II and Tier III towns and cities of India.

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"As an online fantasy gaming startup in India, we aim to expand our services and have shifted our vision from being a core fantasy gaming company to becoming the destination platform for complete real-money gaming," Yogesh said.

"This is just the beginning for the company and we hope to grow aggressively in the online gaming space," he added.

Recently, PlayerzPot roped in cricketers Bhuveshwar Kumar and Smriti Mandhana as its brand ambassadors.

On this note, Mitesh Gangar, cofounder of PlayerzPot said, “Through this funding, we aim to strengthen our leadership position in the industry. Our vision is to become the best destination in India for games of skill and we are confident about the bright future of this segment.”

The major competitors of PlayerzPot are Raingames, ballebaazi, and few others.

About the company: Founded in 2015 by Yogesh Doiphode and Mitesh Gangar, PlayerzPot is a fantasy sports website where you can use your sports knowledge to earn some real cash prizes and gifts. Playerzpot has more than 2 million users. and aims to carve out a niche through a highly responsive and customer-centric approach.

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