Xeta Networks, the corporate that owns video games like Poker Dangal and Rummy Dangal, is venturing into fantasy sports activities with Fantasy Dangal. The launch of the sport coincides with the Indian Premier League (IPL), which kicks off on ninth April. IPL is a giant driver of consumer progress for fantasy sports activities platforms.
The corporate additionally plans to launch an off-the-cuff gaming app known as Dangal Video games which could have a number of video games residing within the app. To drive the subsequent part of enlargement, the corporate additionally plans to lift funding from the market within the second quarter of FY22.
Co-founded by Varun Mahna, Varun Puri, Shashwat Jain, Karan Gandhi, and Manan Sobti, Dangal Video games had lately raised $1 million in Collection A spherical from an undisclosed strategic investor. The corporate had raised Rs 2.5 crore within the first spherical of funding from an angel investor in July 2018.
Dangal Video games CEO & Founder Varun Mahna stated that there’s a big potential within the Indian fantasy gaming area. He expects the variety of fantasy recreation customers to develop from 10 crore to 80 crore within the subsequent two to 3 years.
“We’re popping out with our first product in non-card area which is Fantasy Dangal. We imagine that there’s big potential for fantasy sports activities in India. Everybody is aware of fantasy sports activities as a result of rise of Dream11 and the type of funding they’ve been in a position to elevate. However as a sector, it’s nonetheless very area of interest and too younger,” he stated.
“India being a loopy sports-loving nation the variety of customers who play fantasy video games is simply 10 crore. We anticipate that quantity to be 80 crore within the subsequent two to 3 years. So that is the type of alternative that’s there available in the market and we wish to capitalise on this progress story for fantasy and purchase a major market share and consumer base within the subsequent 2-3 years. That’s the imaginative and prescient with which we’re getting into the fantasy gaming enterprise.”
Mahna expects fantasy sports activities to bear plenty of adjustments because the sector grows and continues to develop. “Now we have all the time believed that there’s litter on the backside and area on the prime. Fantasy sports activities is synonymous with cricket however we’ve got a agency perception that Indians comply with all kinds of sports activities. Now we have lovers of soccer, hockey, kabaddi and there’s area for these video games to now begin prospering in India. We wish to utilise the present degree of affection that Indians have for sports activities after which translate that into a really loyal consumer base for Fantasy Dangal.”
After Fantasy Dangal, the corporate can be arising with a brand new providing known as Dangal Video games which is scheduled to launch in June. Dangal Video games will home the entire firm’s gaming IPs in a single app. Nevertheless, Poker and Rummy Dangal will live on as standalone merchandise. Dangal Video games could have 20 video games at launch. At the moment, the product is being examined.
“With Dangal Video games, we’re providing our customers a single-stop resolution for all their gaming wants. It will likely be a single app from which customers could have entry to a number of video games and merchandise. From a single consumer, customers can play any recreation of their selection. Be it poker, rummy, fantasy, or informal video games as per their selection,” Mahna stated.
The concept behind Dangal Video games is to open the corporate’s product choices to your entire Indian panorama and ecosystem. “As a result of for Poker and Rummy you’ll require sure skillsets to have the ability to play the sport. With fantasy, you want a specific quantity of curiosity in sports activities and specifically video games. With the informal video games coming in that will make your entire Indian panorama our potential viewers.”
The corporate follows a service fee-based income mannequin for all its merchandise. “We cost a small sum of money which is being raised by wagers on poker and rummy and we cost a small entry charge for the assorted contests and tournaments for fantasy. Dangal Video games can even comply with the same mannequin as fantasy. For Poker and Rummy, we cost 3-5% of the quantity wagered and for Fantasy Dangal it will likely be 10-12% of the entry charge on the competition. On Dangal Video games, we could have a distinct service charge for every product. The vary will differ from 3% to 18%.”
It would not have an advert mannequin as it isn’t user-friendly. “We do not have advertisements as we do not need customers to get distracted throughout gameplay. For us time spent and engagement is a key issue.”
Commenting on the fundraising plans, Mahna stated, “For our present operations, we’re adequately funded however we’ll go to the market within the subsequent quarter for the subsequent spherical of fundraising for our future progress plans in July- August.”
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