Pocket52 Looks To Transform Online Poker With New Funding
Online poker platform Pocket52 has received a major funding boost from venture capital firm Speciale Invest as well as other top investors.
The funds will be used by the Bangalore-based company in establishing a stronger and wider consumer business. Other investors taking part in the seed funding round are Pranjal Batra and Abhigya Sagar.
Pocket52 was founded earlier this year by Nitesh Salvi, an IIT Bombay graduate, along with other co-founders namely, Saurav Suman who is currently the company’s Chief Operating Officer, Debashish Bhattacharjee taking charge as Pocket52’s Chief Marketing Officer, and Satyam Verma, the Chief Technology Officer.
Salvi started playing poker while he was a student at IIT Bombay and was not very impressed with the online poker experience that the Indian market has to offer and has invested both time and money to bring something new to the market that will transform the way online poker is played in India.
Salvi and his team have been working on establishing an online poker platform that would revolutionize the online poker experience through cutting-edge technology. Their main aim is to focus on incorporating Data and Machine Learning into Pocket52 online poker platform and look to provide a higher level of customer satisfaction.
Random Number Generation
The firm received praise from Arjun Rao, general partner at Speciale Invest, who highlighted Pocket52’s technology driven vision for the online gaming space in India. Rao said they are confident that the company will be able to redefine online poker through its high-quality player engagement and undisputed integrity.
Drawing inspiration from notable companies such as US firm Cloudfare, Pocket52 has incorporated the Random Number Generator (RNG) technology into its systems to provide an extra layer of security in their online card shuffle process, which is impressive and highly encouraging. Pocket52 is certified by Australian agency iTech Labs.
Commenting on the investment, Speciale Invest founder Vishesh Ramrajan said Pocket52 leads the way in terms of technological innovation in the rapidly growing Indian online poker industry. Ramrajan said they are thrilled to work with Pocket52 and be part of their journey towards growth.
India’s gaming industry is currently valued at $300 million, out of which $7 million comes from the online poker space, according to a May 2017 study by Google India and KPMG. The new funding is expected to further boost the country’s online gaming sector.