ZEAL Ventures has taken a stake in Manchester gaming start-up Circl Gaming Ltd.
Details of the deal haven’t been announced, but ZEAL stated it would include financial support as well as an “exchange of experience and knowledge.” This would cover consultation on strategy, regulation and marketing.
Circl was set up as a social betting app, to allow users to take part in live betting during Premier League matches. The mobile app uses micro-events in the game, such as corners, goals and free kicks, to create a gaming experience based on random chance.
Originally for groups of friends, it’s now expanded so players can take part in larger “Circls.”
“We are pleased to add Circl, another promising start-up, to our portfolio with immediate effect,” said Dirk Reiche, Investment Director, ZEAL Ventures.
“The development of the gaming industry has picked up speed in recent years and has produced numerous visionary technical innovations. This is crucial for our industry, as the future of the market is taking place online. For this reason, we look forward to working with Circl and mutually sharing ideas for an even more diverse gaming and entertainment experience in the future.”
The Manchester firm has already been backed by a number of investors and angels, including Dutch Sport Tech Fund.
“The partnership with ZEAL is a huge step forward towards growing Circl internationally,” said Mark Quinn, Chief Technical Officer (CTO) of Circl Gaming.
“The founding team are delighted to be working with ZEAL Ventures. The expertise they bring from the lottery and gambling sector is going to be invaluable to us as we continue to scale Circl and bring great new products to the market. The support they will bring is not just financial, it will help with every pillar of our business.”
ZEAL Ventures is part of ZEAL Group and works with start-ups and founders in the international lottery and gambling sector. Its portfolio includes Daymade, Omaze and Pick my Postcode.
