Junglee Games Acqui-Hires Algorin Techlabs, Eye to Tap 150 Bn Sports Industry
The skill-gaming platform, Junglee Games has announced the completion of the acquisition of Algorin TechLabs, a Bengaluru based gaming company. The strategic acquisition strengthens Junglee Games position in the skill gaming space and is poised to provide a strong presence for the company in Bangalore.
Speaking on the development, Ankush Gera, Founder and CEO of Junglee Games said, I have known Vijay and Abhishek for the past few months and recognize Algorin TechLabs as an extremely talented and high-performance team which. They have taken significant strides in building skill based games like PlayFantasy and JustKhel. With the two businesses coming together, we at Junglee Games are excited to look forward to the next phase of skill games and the untapped $150bn market. More importantly, were quite excited to have a values-aligned team joining hands with us.
Founded in 2017 by Vijay Verma and Abhishek Bharti, Algorin TechLabs was instrumental to introduce PlayFantasy and JustKhel - skill-based daily fantasy sports platforms for serious gamers with close to real-match scoring.
Post the acquisition, the team of 20 people from Algorin TechLabs along with founders Abhishek and Vijay have joined Junglee Games to build products focused on fantasy sports and help expand presence in the Indian market.
Launch of Howzat, fantasy sports platform
In the past five years, the skill gaming industry has grown to an industry worth $500 million annually. A large part of that revenue is generated by fantasy sports. The acquisition witnessed the development and launch of Howzat - Indias newest fantasy sports platform, co-developed by the Junglee Games and Algorin TechLabs teams. Howzat allows gamers to create their own fantasy (Cricket/Football/ Kabaddi) teams from among the players playing real matches on the ground. Once a virtual team is created, gamers can compete with other players teams and win cash and prizes.
We are thrilled to be joining the team at Junglee Games which has charted a high growth path in the skill-based game space and has successfully created a global community of 25+ million gamers. Culturally, both the companies are aligned and now with Howzat, we hope to combine our knowledge and tech expertise in order to produce high skill games for the ever-increasing demand in the country, said Abhishek Bharti, Co-Founder of Algorin TechLabs.
A bit about Junglee Games
Founded in 2012 by Ankush Gera, Junglee Games operates from San Francisco and Delhi. They have over 250 employees between San Francisco, Hong Kong, Austria, India, Vancouver, Argentina, and Poland. The startup has paved the way for a new class of games where gaming enthusiasts can win prizes and cash.
With over 25 million users across the globe, the company is on a mission to build games that will entertain, and be remembered by millions of people for years. After establishing a strong footing and a dominant position in India, Junglee Games plans to expand to the US and the UK. To support this endeavor, the company plans to build and launch new global IP while foraying into eSports and mSports. Overall, it is helping build a community of players who use their cognitive skills and allow users to compete with real players from across the country.