Nazara Technologies, a thriving Gaming, and sports media have declared that it has invested in fantasy sports startup Halaplay. It will secure an equity swap of stocks from Kae Capital worth Rs 14.6 crore.
As per the deal, “Nazara will come out as the majority stakeholder in fantasy gaming vertical Halaplay“, the company said in a statement.
About the Deal
Headquartered in Mumbai, Nazara has invested in Halaplay over the years in two parts: first round of investment was carried out with Kae Capital in November 2017, and the second round with Delta Corp Ltd in March 2019.
Incepted by four batchmates hailing from BITS Pilani in 2017. It is a real money based daily fantasy sports (DFS) platform that entails comprehensive cricket, football, and kabaddi leagues and ventures into other sports.
It has a dynamic portfolio of gaming businesses laid free-to-play mobile games, real money skill gaming, esports, and gaming subscription services.
Prior to this, Nazara has also invested in startups like Next Wave Multimedia, Nodwin Gaming, Sportskeeda, Paper boat apps, Moonglabs Technologies, Mastermind Sports, Bakbuck, CrimzonCode, InstaSportz and NZWorld among others.
The firm has deepened its roots in 64 countries across emerging markets with services in India, Singapore, Dubai, Mauritius, and subsidiary companies in Africa.
Last year, Nazara revealed that it will lend $20 million in 2020 in e-gaming startups across India, Africa, and the Middle East.
Nitish Mittersain ideated Nazara in 2000. It boasts a community of over 100 million gamers in India. It’s backed by Marquee investors which include IIFL Special Opportunities Fund, Rakesh Jhunjhunwala, West Bridge Capital, and Turtle Entertainment GmbH.