# Megashots Internet Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/megashots-internet-private

- Industry: Software
- Headquarters: Bangalore, India
- Website: www.getmega.com
- Total disclosed funding: $27M
- Latest round: Series B (May 29, 2021)
- Investors on record: 3

## About

Founded in 2018 and based in Bengaluru, India, Megashots Internet Private Limited operates in the online real-money gaming sector, specializing in platforms that cater to poker and rummy enthusiasts.Megashots Internet Private Limited is engaged in online real-money gaming, offering competitive platforms like Mega Rummy and Mega Poker. The company, headquartered in Bangalore, India, was founded by Lokesh Jangid and Mayank K, who serves as CEO. The company has successfully raised a total of INR 1133.67 million in funding, with the latest being a Series B round in May 2021, valuing the company at INR 6.20 billion. The firm has executed 3 deals to date, all focused on expanding its reach in the gaming industry.GetMega specializes in online real-money gaming, offering core products such as Mega Rummy and Mega Poker. These platforms enable users to participate in cash games and tournaments, providing a competitive environment for poker enthusiasts and rummy players alike. Launched to cater to the rising demand for online gaming, these services primarily target individuals in the Indian market, tapping into a growing demographic of gamers seeking authentic cash play experiences. The company’s products are designed to solve the challenge of accessing traditional card games in a digital format, ensuring that users can play from the comfort of their homes while enjoying the thrill of real-money stakes. The user base includes casual gamers looking for entertainment, as well as skilled players aiming for significant winnings in a legitimate and secure gaming environment.The revenue model for GetMega is structured around transaction-based income from its gaming platforms. The firm reported a revenue of INR 3,798,893.50 in 2023, with an EBITDA of -INR 3,377,213.70 for the same period. Participants typically enter cash games by depositing funds into their accounts, which allows them to engage in various poker and rummy matches. Players may accumulate winnings that can be withdrawn, subject to specific terms and conditions outlined by the company. This direct engagement fosters a competitive ecosystem while generating revenue for the company through game participation and associated fees.Megashots Internet Private Limited plans to utilize its recent Series B funding of INR 1133.67 million, raised in May 2021, to support its growth initiatives. The company is focused on enhancing its gaming platforms and exploring expansions into new markets within India, targeting the growing demand for online gaming. Specific details regarding upcoming product launches have not been disclosed, but the investment is expected to facilitate the development of new features and functionalities to attract a wider audience, further solidifying their position in the market.

## Funding rounds

- Series B, May 29, 2021, $16M — Accel, Nexus Ventures, Hashed Ventures
- Series A, Jan 1, 2021, $9M — Accel, Nexus Ventures, Hashed Ventures
- Series A, Dec 19, 2018, $2M — Accel

## Investors

- Accel (https://capitalatlas.ai/funds/accel) — Series A, Series B
- Nexus Ventures — Series A, Series B
- Hashed Ventures (https://capitalatlas.ai/funds/hashed-ventures) — Series A, Series B