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Real Teen Patti raises funds from Matrix Partners India

Close on the heels of Octro*, the creator of the mobile gaming app Teen Patti raising $15 million from Sequoia Capital IndiaRed Monster Games India, the creator of Real Teen Patti has raised an undisclosed amount of funding from Matrix Partners India. According to Matrix Partners, the company will use the funds to build mobile social games across casino, arcade, casual and invest express categories in India. It’s worth noting that Matrix Partners is also invested in online rummy site Ace2Three, an investment it made in 2010. Founded by Kunal Kapur and Kiran Upadhya, Red Monster games said it will soon be looking to expand into other genres of social gaming. Both the founders have prior experience in the gaming industry, having worked at Zynga.

real-teen-patti

The free Real Teen Patti app claims to offer unlimited gameplay, free chips and daily bonuses etc. without making any in-game transactions. It also claims to introduce new game variations every week. Since the real selling point of such games is letting people play with friends, the app requires at least a 2G connection to play.

Like Teen Patti, it monetizes via in-app purchases. We’re reminded of a Delhi High Court ruling from 2012 that said that only online games that don’t involve real money are legal in India.

Other companies include Mango games, which raised an undisclosed amount of funding early this year. Bangalore-based Bash gaming which was acquired by GSN Games for $160 million.

*disclosure: MediaNama editor Nikhil Pahwa’s cousin Gaurav Banga is on the board of Octro

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