[Funding alert] Noida-based Rein Games raises Rs 5 Cr in seed round from Manipal Group’s Ranjan Pai, Titan Capital
Noida-based gaming startup Rein Games Pvt Ltd on Thursday said it had raised Rs 5 crore in a seed round led by Dr Ranjan Pai’s MEMG (Manipal Education and Medical Group) family office and Titan Capital, besides a few HNIs.
According to Rein Games, it will utilise the funds to streamline product development, acquire more users, and strengthen its team.
Founded by Vaibhav Gupta, Himanshu Devra, Pranav Chaudhary, and Nishtha Gupta, Rein Games provides entertainment for serious gamers, and is focussed on creating original, concept-based real-money games that are played for a stake in return for a platform fee.
Commenting on his investment, Dr Ranjan Pai, Managing Director, MEMG, said,
“Being an avid gamer myself, I know firsthand that the market for real-money, skill-based gaming in India is poised for a big take-off. Vaibhav and his team know the space well and are razor-focussed on becoming the undisputed leader in this segment.”
The platform’s analytics-focused business model operates in real-time, tracking money-flow in the system and using it for multiple purposes: to redirect benefit to fading users, increase user engagement, curb fraudulent activities, etc.
The startup at present has a core team of 12 niche professionals.
Speaking about the fundraise, Vaibhav, CEO and Co-founder, Rein Games, said the startup believes that, as real-money gaming takes off in India, users will increasingly seek depth and value a high-quality gaming experience. He added,
“They will also seek more genuine games which will allow for their skills to win, and not ones where hacks and other shortcuts help win. We will thus focus on building one game at a time and innovate around that and become a leader in that before moving onto the next game and so forth. The validation and confidence exposed by Dr Pai is a huge booster and I’m immensely thankful to him and our other seed investors.”
All India Gaming Federation (AIGF) pegs the online real-money, skill-based gaming market in India at Rs 2000 crore, which is expected to grow 3.5x by 2025.
(Edited by Athirupa Geetha Manichandar)