Swedish iLottery and online bingo games developer Random State has secured a strategic investment from FDJ UNITED Ventures and ZEAL Network.
The “significant” funding round will accelerate Random State’s development of new games and support the strategic expansion of its sales and marketing efforts.
“We are incredibly proud to welcome FDJ UNITED Ventures and ZEAL as strategic investors,” said Random State co-founder and chief operating officer Adam Fonsica. “Their backing validates our approach to creating modern, user-centric lottery and bingo games characterized by creative game design.
“This collaboration is a perfect strategic fit, providing the resources to fast-track our game development and scale our commercial footprint into new territories, hand-in-hand with two of the most respected operators in the industry.”
Maxime Sbeghen, head of investments at FDJ UNITED Ventures, commented: “Random State’s focus on innovation and creating engaging, user-centric games aligns perfectly with our vision for the future of the lottery.
“As an international group committed to expanding globally, we are excited to partner with them to bring fresh momentum to a modern and future-ready lottery landscape and support their growth in the industry.”
ZEAL Ventures investment manager Juliane Gutsmiedl added: “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.”
Random State’s notable clients include Delta Bingo Online in Canada, The UAE Lottery, and Sweden’s Miljonlotteriet.