The popular fast-bowler introduced 'Tap Fox' at the Indo-European Business Forum's (IBEF) annual gala as a "small organisation" in the field of online gaming.
"Tap Fox is a social gaming concept that will allow people to play games without the need to download them," he said.
The firm, in which Dev is one of the investors, will be run by Ranu Gupta as co-founder and CEO.
The cricketer also invited leading NRI industrialists and investors gathered at the event to invest in India.
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IBEF was set up 10 years ago by UK-based solicitor Vijay Goel and Indian industrialist Sunil Kumar Gupta as a platform to share knowledge and experience relating to doing business in India and the European Union (EU).
"India is in a favourable position today; it is the best destination for business. Full credit goes to Prime Minister Narendra Modi for his recent action of demonitisation. It is a masterstroke to clean up the system of black money," said leading NRI entrepreneur GP Hinduja, who is also among the advisory board members of IBEF.
"The move is not just aimed at corruption and black money but also a means to make all transactions transparent in the country. I want to assure everyone that we are working to ensure none of your old notes will go to waste," he said, to resounding applause.
The event, held in the Long Room at Lord's overlooking the world-famous cricket pitch, was also attended by Ram Bilas Sharma, BJP minister from Haryana, who presented the annual IBEF awards for excellence to the Burman family behind the Dabur Group and British Indian singer Hard Kaur.