Pocket52, a Bangalore based online poker platform has received a seed funding from Speciale Invest. Speciale Invest is an early stage venture capital firm which has invested an undisclosed sum in a seed funding. The press release of the company mentioned that other players Abhigya Sagar and Pranjal Batra had also participated in the funding round. The poker site has been certified by Australian agency iTech labs and it boasts of having a cryptographically secure Random Number Generation (RNG) Certificate, RNG+.
Pocket52 was founded in 2018 by IIT Bombay graduate Nitesh Salvi with Saurav Suman, Satyam Verma and Debashish Bhattacharjee. Arjun Rao, General Partner at Speciale Invest said, “We are excited to support Pocket52 as we believe in their vision.”
“They envision bringing technological innovation to the Indian online gaming sector. They have a strong product differentiation around the game-play. Their belief, fairness and a high-quality player engagement give us confidence in them.”
Nitesh Salvi also has previous experience in the startup space and his first edu-tech venture Plancess was acquired by Career Point Group. Salvi’s dissatisfaction with the current experience in the online poker space led to the inception of Pocket52 which aims to reconstruct online poker experience. It applies the learning of machine learning and data.
Vishesh Rajaram, founder of Speciale Invest said, “Indian poker market is expanding rapidly and Indian poker gaming industry. Pocket 52 has taken the technological lead in this space and we would love to be a part of their journey.”
This funding can be considered to be an initiative for promoting the gaming industry in India. Reports estimate the market value of the Indian gaming industry to be worth $300 million. It also estimates the Indian poker market to be worth $7 million.