We all know by now that the incredible boost in online gaming has definitely benefited the market since the past three months. Suffering a major blow due to the COVID-19 pandemic, people all around the world are turning towards online means for entertainment. One such gaming, Nazara Technologies acquired Kae Capital’s stake worth INR 14.6 Crore, becoming a majority stakeholder in fantasy gaming platform Halaplay Technologies.
Launched in 2017 by four students from BITS Pilani, Halaplay is real money based sports site. Ever since its inception, the company has observed an exponential growth in the user base. It currently comprises of cricket, kabaddi leagues, and football.
Over the years, Nazara has invested twice. The first round of investment was carried out with Kae Capital in November 2017 and the second round when Halaplay raised INR 2.94 Crores from Delta Corp’s online gaming subsidiary Gaussian Networks and Nazara Technologies. “The company has now gone ahead and bought Kae Capital’s stocks in Halaplay making it the majority investors in the fantasy sports vertical,” a statement by Nazara read.
With a network of over 100 million players in the country, previously, Nazara had invested in start-ups including Nodwin Gaming, Next Wave Multimedia, Sportskeeda, Paper boat apps, Mastermind Sports, and Moonglabs Technologies. The company has taken licensed mobile gaming rights to popular Indian IP characters such as Chhota Bheem, Motu Patlu, Mighty Raju, and so on.
Nazara is also an investor in the gaming and sports ecosystem in India and has consummated transactions worth $50 million in the past three years. The company has acquired a majority stake in Next Wave Multimedia Pvt. Ltd, Nodwin Gaming Pvt. Ltd and HalaPlay Technologies Pvt. Ltd. For more updates on the gaming industry around the world, keep reading GutshotMagazine.com and stay tuned!