ZEAL Network, via its investment arm ZEAL Ventures, and FDJ United Ventures investment fund have invested in Swedish ilottery and bingo supplier Random State.
The investment from the pair will allow Random State to expand its sales and marketing activities, accelerate game development and support general growth.
ZEAL Network said the investment would give it “valuable insights into new game formats” and allow for benefits from commercial partnerships on the back of the investment.
The operator added that backing the supplier aligns with its plans to “actively shape the future of lottery and infuse innovation into its product portfolio”.
ZEAL Ventures also backs prize draw operator Omaze, Pick My Postcode, Daymade and the Race Horse Lotto.
Based in Gothenburg, Sweden, Random State was awarded a UAE gaming-related vendor licence in May to bring its content to licensed business in the Emirates.
In June, the supplier penned a deal with Delta Bingo Online to add its multiplayer digital bingo product to the land-based operator’s portfolio.
Alongside lottery and bingo products, Random State also offers a full PAM, and has other agreements in place with lotteries and operators across North America and Europe.
The business, founded in 2020 by Adam Fonsica and Mattias Westholm, recently secured a licence from the Alcohol and Gaming Commission of Ontario.
Juliane Gutsmiedl, ZEAL Ventures principal corporate development manager, said: “With Random State, we are investing into innovation in the ilottery sector.
“The team impresses with creative game design and a deep understanding of diverse user preferences – providing us with valuable impulses for the development of our own portfolio.”
Westholm, who serves as Random State’s CEO, added: “Our vision is to reimagine the lottery – digital, user-centric and globally connected.
“With ZEAL and FDJ United, we’ve found strong, strategically minded partners who share this ambition.
“This investment allows us to accelerate our innovation pipeline and expand into new markets and customer segments.”
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German lottery brokerage’s investment arm, ZEAL Ventures, backs Random State alongside Unibet parent company
The post ZEAL Network and FDJ United invest in Swedish ilottery supplier first appeared on EGR Intel.