HalaPlay raises 2.94 Cr from Gaussian and Nazara

With a brimming opportunities in gaming news, there is a new development as HalaPlay raises a huge chunk of money from Nazara Technologies and Gaussian Networks.

Home » HalaPlay raises 2.94 Cr from Gaussian and Nazara

Daily fantasy sports start-up, HalaPlay raises a huge chunk of money (2.94 Crores.) from mobile gaming start-up Nazara Technologies which is an existing investor, and Delta Corp’s online gaming subsidiary Gaussian Networks owner of the nation’s leading poker site Adda52.

As per the statement released by Inc42,

HalaPlay has received an investment of 1.74 Cr and INR 1.19 Cr from Gaussian Networks

Recently it was announced that Indian Premier League 2020 was delayed and there was rumor circling that IPL can also get cancel this year, thus leading huge traffic of sports enthusiasts to access these fantasy-based games. To tap these surging demands, various fantasy gaming platforms need apt funds to survive and thrive amidst these hard times. Also, by acquiring fund they can intensify their marketing presence and offer one of a kind experience to their growing user base.

HalaPlay started the transaction by issuing 3892 shares to Nazara technologies and 2669 shares to Gaussian Networks. According to this strategic deal, Rate per share stands at INR 4,395 with a nominal price of INR 100 per share.

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Fantasy sports Platforms have been garnering huge popularity amongst all ages of sports lovers, as it allows users to create their fantasy teams, and earn points and real cash based on the players’ actual performance. Because of THE amazing prizes, schemes, and interaction, there has been a huge rise in users playing fantasy-based games.

Before this strategic deal, the fantasy-based platform has raised in Series A funding round by the same group of investors Nazara Technologies and Delta Corp. The investment mainly focuses on the fast-paced growing user base for fantasy-based games in India.

HalaPlay, one of the leading fantasy sports company was launched in 2017 by four BITS Pilani’s graduates-Swapnil Saurav, Prateek Anand, Ananya Singhal, and Aman Kesari.

Before starting HalaPlay, Swapnil and Prateek were developers in MoEngage and Nucleus software, respectively. Ananya was operations head for Billionscraft, while Aman was a data scientist with Daily Ninja.

HalaPlay has conducted over 5,000 fantasy matches in sports such as cricket, football, and kabaddi, offering leagues from across the world, thus boasting to have 2 million registered users on its portal and it aims to grow with over 10 million active players in the upcoming year.

One of its prime seed investors, Nazara technologies, has shown its major interest in capital infusing in different gaming platforms catering to millions of sports fans/enthusiasts.

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