wordpress blog stats
Connect with us

Hi, what are you looking for?

Rummy site Ace2Three raises $73.7 million funding led by Clairvest

Canadian private equity investment group Clarivest has led a $73.7 million round of investment in Hyderabad-based Head InfoTech India Private Limited, which runs Ace2Three, an online skill-based gaming platform. Clairvest’s portion of the investment will be around $4 million. Matrix Partners also invested in Ace2Three, an investment it made in 2010.

Michael Wagman, managing director of Clairvest Group will join the board of Head InfoTech following the deal, as indicated by this Economic Times report. Deepak Gullapalli CEO of Head InfoTech said Clairvest Group’s existing investments in the global gaming industry will be of strategic help in exploring other geographies.

Ace2Three is a gaming website which specializes in Indian Rummy and claims that it has eight million customers at the moment. It offers other variants of the rummy game, including 2-player and 6-player option games, tournaments, pool games, and more. In 2015, the Supreme Court of India declared online rummy, poker and card games as a game of skill and was not illegal in the country.

Ace2Three competes with gaming companies such as Octro, Adda52, Mango Games, Zynga, Miniclip and Zapak. Octro received Series A round of funding of $15 million from Sequoia Capital in June 2014. Note that Octro raised an undisclosed amount of funding from Matrix Partners India back in 2014 as well.  Octro’s top-selling game Teen Patti is similar to online poker while Adda52 offers poker and rummy.

The Indian gaming industry is expected to touch $801 million by 2022 from $543.08 million in 2016 and is primarily being pushed by online card games, free to play games with in-app purchases and increased mobile penetration.

Advertisement. Scroll to continue reading.


Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.


Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.


Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.


The need of the hour is for lawmakers to understand the systems that are amplifying harmful content.


For drone delivery to become a reality, a permissive regulatory regime is a prerequisite.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ