Pariekshit Maadishetti, Founder, Grid Logic Group, Taj Rummy
Pariekshit M is the founder of the Grid Logic Group and Taj Rummy – India’s first and only rummy brand powered by the cutting–edge Artificial Intelligence technology. Taj Rummy and its network are currently India’s fastest growing brands in this space with plans to spread out globally in the very near future. Pariekshit has always been deeply enamored by Gaming but his vision and appetite for building businesses led him to augment the group companies further into exciting ventures namely Software, Media and Hotels & Resorts. He still continues to be passionate about his first love though and thrives on actively investing where he can change the face of the game.
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The last year has witnessed tremendous growth in the online gaming space with several companies receiving big rounds of funding. What is your sense of where the industry is headed?
Every year we see that new segment of skill evolves with interest of funding from investors. Previously it was Rummy, Poker, Fantasy & now it is eSports/Quiz platforms like MPL, BigPesa, WinZO, Zupee which are the flavours of the market.
The industry will grow only when we have various options and I am glad that investors are placing their bets on unique models.
We have also seen the existing online rummy companies venture into other forms of gaming and non-gaming activities in recent times. What do you think are the diversification strategies available for online rummy operators?
For some operators it’s the user base and growth they want from other products as they have hit the ceiling when it comes to Rummy. Also, I strongly feel it helps with valuation and de-risking the business if you are sailing in all the products.
Diversification is good, but if you want Rummy players to try your other profitable products, you have much fewer options that offer the same level of satisfaction as operating Rummy.
How do you think the growing digitalisation and formalisation of the economy and focus on esports/e-gaming in premier global sports events will help online gaming in India?
I am positive about esports/e-gaming and expect to see the numbers grow in the coming times. There will be a time when India will have arenas and high scale tournaments will be operating for sure.
Do you see progress on the discussion relating to regulation of sports betting in India? What are the timelines by which you expect the efforts in this direction to bear fruit?
Nothing in specific is happening at the moment, as the slowing down of economy, growth figures and low employment rates have taken higher priority for the Government (as per me). However as they have a good mandate, I am expecting to hear at least some positive News towards regulation, if not implementation this term.
What are your expectations from SPiCE 2020 and what do you think delegates should look forward to at the event?
SPiCE has always been a good show and we like the environment and people who visit, which is why we are the TITLE sponsors and will hopefully continue to do so in the coming years. I personally like the mix of international & domestic operators, payment and tech companies who speak the same language as us. I recommend it to everyone!
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SPiCE India 2020 will take place on March 25-27 at Goa Marriott Resort & Spa in Goa, India. The third edition of SPiCE India is hosted by Eventus International.