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Rein Games raises Rs 5 crore in angel funding

The business model aims at creating original concept-based real money games that are to be played for a stake in return for a platform fee.

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Last Updated: Dec 20, 2019, 02.14 PM IST|Original: Dec 11, 2019, 06.35 PM IST
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The core team at Rein Games, including co-founders Himanshu Devra and Pranav Choudhury, come from a gaming industry background, where they have been involved with different areas of developing and launching real money games.
PUNE: Real money gaming startup Rein Games said it had raised Rs 5 crore in angel funding from Manipal Group Chairman Ranjan Pai’s MEMG family office and Titan Capital.

Vaibhav Gupta, co-founder, Rein Games, said the funds would be used towards development of new games and to build the real money gaming category.

“We currently have a Real 8 Ball pool game which is a new category in the real-money gaming segment. We do not want ride the wave and be a fringe player but create something new,” he said.

The business model aims at creating original concept-based real money games that are to be played for a stake in return for a platform fee.

The core team at Rein Games, including co-founders Himanshu Devra and Pranav Choudhury, and Nishtha Gupta, come from a gaming industry background, where they have been involved with different areas of developing and launching real money games.

Set up in 2018, the company launched its first game in May.

Gupta said that the real-money gaming market is expected to grow at around 50-55% by 2022, reaching $1.5-$1.7 billion from $250-$300 million currently.
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