The boss for Indian skill-based online games operator Head InfoTech India Private Limited has reportedly invested some $38,800 in WCFN Solutions Private Limited, which is the firm responsible for the daily fantasy sports portal at Fan Fight.
According to a report from Asia Gaming Brief, Head InfoTech India Private Limited runs the online rummy domain at Ace2Three.com and its investment via Chief Executive Officer Deepak Gullapalli will see the firm become a significant player in the daily fantasy sports market.
Asia Gaming Brief reported that the Hyderabad-based firm is also expected to invest a further $116,400 in WCFN Solutions Private Limited in the near future to give it a 10% overall stake in the daily fantasy sports operator, which premiered Fan Fight in December and now has plans to re-launch the peer-to-peer mobile service complete with a more draft-based model.
The news follows last month’s revelation that backers including private equity management firm Clairvest Group Incorporated had invested some $73.7 million in Head InfoTech India Private Limited in an attempt to grow the operator, which already offers its online rummy experiences to over eight million players.
“The Ace2Three.com platform is about to embark upon an exciting growth trajectory,” read a May statement from Gullapalli. “Clairvest [Group Incorporated] brings much more than capital to this deal; it brings a wealth of experience in building companies of our size as well as expertise in the gaming space that makes Clairvest [Group Incorporated] a valuable resource to the company.”