3M hands per month
Indian online poker platform 9stacks has raised 28 crore (US$3 million) in venture capital through a Series A funding round led by WaterBridge Ventures and the startup’s existing pool of investors.
“India is at the cusp of massive online gaming adoption with an exponential increase in players and revenue expected in this sector,” said WaterBridge Ventures Managing Director Manish Kheterpal. “Real-money gaming will have a significant wallet share of online due to ubiquitous mobile access in India, increasing disposable income, convenience and superior user experience.”
“With Waterbridge Ventures becoming the lead investor in our Series A fund raise, we are delighted to announce that 9stacks is India’s first online poker company to reach this funding milestone,” said 9stacks CEO Sudhir Kamath. “This is a great sign of confidence in the 9stacks team, the systems and processes we’ve put in place, in addition to the rapidly growing market.”
The firm announced that it will use the funding to increase its user database, expand its market and amp up data analytics, reported Cardplayer.com. The poker platform is seeking to become “the preferred” site for online poker in India.
The poker portal reports that it currently has some 100,000 subscribers playing more than 3 million hands per month.
