first_img Football Paytm and Alibaba Group-owned AGTech joint venture Paytm First Games will raise $25 million from new investors. The potential investors engaged in talks include SAIF Partners and another Hong Kong-based entity, Indiatimes.com has reported quoting two sources “briefed on the matter”.Paytm First Games, launched as Paytm Gamepind in 2018, will become the second One97 Communications Ltd entity after Paytm mall to raise capital from external investors. Sports BusinessBrandsSport Tokyo Olympics: Good show in the first match will give team right momentum, feels Ramandeep NBA: Philadelphia 76ers’ Daryl Morey fined $75k over controversial tweet by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likecio.comUnlocking the Success of Digital Transformation with Active Intelligencecio.comE! OnlineCNN’s Christiane Amanpour Undergoes Surgery After Cancer DiagnosisE! OnlinePhotoStickHow To Back Up All Your Old Photos In SecondsPhotoStickPaytm First Games offers a mix of free and paid games, which compete with the likes of Sequoia Capital India and Times Internet-backed Mobile Premier League and Dream11..AGTech is a leading high-tech Alibaba Group company that specialises in sports leisure and sports lottery in China and Hong Kong. On the front of sports leisure business, AGTech has obtained an exclusive authorisation by the Chinese authority to act as the sole operator to organise, manage and operate all relevant official commercial activities for e-sports development in the country. They propose to offer full range of e-sports products and services which include: organising China E-sports Premier League (CEPL) and Shenzhen E-sports Open Event; establishing and maintaining the official and commercial website(s) (www.e-sports.org.cn); organising training for athletes and referees; broadcasting of tournaments; provision of management services for athletes; setting up of clubs and training centres; and sales of souvenirs and gifts, etc.Paytm will invest the funding to build a bouquet of products under the Paytm First brand. Paytm and AG Tech have invested $ 16 mn in their joint entity Paytm First Games.“We now have about 30 million users on our platform with half of them being monthly active users. On our paid games, people spend around ₹4,000 on games like Rummy, while the spends are to the tune of ₹ 400 in fantasy leagues, etc.,” Paytm gaming unit COO Sudhansu Gupta has told Indiatimes.com.According to Gupta, the Paytm gaming unit has an annual revenue run-rate of $50 million. The company is looking to double down on its current team size of over 150 people as it looks to invest in its technology platform and build e-sporting events too.Also Read: Paytm’s Gamepind reaches 30 mn registered usersPaytm gaming platform Gamepind named FirstGames NBA 2020-21 Euro 2020: Portugal Squad, Fixtures, Schedules, key players, Predictions- All you need to know Previous articleRadico Khaitan lead sponsor for Senior Athletic ChampionshipNext article‘Complete player’ Ronaldo inspires Kohli with his work ethics Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Tokyo Olympics: Big kit drama for Indian athletes, under pressure IOA drops Chinese brand Li Ning as India’s kit sponsor Hockey Share on Facebook Tweet on Twitter Football NBA Draft Lottery: 4 Teams that have won the NBA Draft Lottery most number of times Latest Sports News Football Football By Kunal Dhyani – August 2, 2019 Euro 2020: France Squad, Fixtures, Schedules, key players, Predictions- All you need to know NBA 2020-21 Euro 2020: Germany Squad, Fixtures, Schedules, key players, Predictions- All you need to know Paytm First Games in talks to raise investment: Report RELATED ARTICLESMORE FROM AUTHOR YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinition|SponsoredSponsoredMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsored Facebook Twitter Euro 2020: Turkey Squad, Fixtures, Schedules, key players, Predictions- All you need to know Euro 2020: Switzerland Squad, Fixtures, Schedules, key players, Predictions- All you need to know Sport Football TAGSalibaba groupPaytmPaytm Fantasy PlatformPaytm First GamesPaytm First Games investmentSports Business NewsSports Business News India SHARE Euro 2020: Matteo Pessina replaces injured Stefano Sensi in Italy squadlast_img read more