Nazara to acquire majority stake in Publishme for Rs 20 cr dailyexcelsior.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyexcelsior.com Daily Mail and Mail on Sunday newspapers.
KOLKATA: World Cricket Championship (WCC), from the house of Nazara Technologies, has touched the 155 million download mark, with addition of 15 million new downloads this year. The mobile gaming company is now looking to reach out to its fans in the vernacular markets, and has brought aboard former team India player Abhinav Mukund as Tamil commentator. Former Australian
Gaming Firm Nazara Technologies Raises Rs 100 Crore In Funding
Nazara has invested over Rs 300 crore in the last five years in the Indian gaming ecosystem.
PTI 09 February 2021 Unsplash outlookindia.com 2021-02-09T20:47:00+05:30
Gaming company Nazara Technologies Ltd announced on Tuesday that it has raised Rs 100 crore in funding from Instant Growth Ltd (IGL).
The firm said that it will use the funds to bolster its position in the gaming ecosystem and strengthen its gamified learning offerings.
Nazara has invested over Rs 300 crore in the last five years in the Indian gaming ecosystem.
IGL is an investment vehicle of the North America based LPs of Hornbill Orchid India Fund. IGL is advised by Hornbill Capital Advisers LLP, an India-based investment advisory firm founded by Manoj Thakur in 2014.
Nazara Technologies has raised $13.7 million in new funding from the Indian VC firm Hornbill Capital Advisers.
The 100 Crore (INR 1 billion) investment marks Hornbill s first such deal in the Indian gaming ecosystem where Nazara Technologies has been a leading player for many years.
In a statement released today, Nazara CEO Manish Argawal said that the deal would give the company access to Hornbill s expertise in helping consumer-facing companies to grow. Through prudent capital allocation, we believe that the team at Nazara has demonstrated their ability to build a formidable presence in esports, gamified early learning and mobile gaming some of the most exciting spaces in India over the next decade, said Manoj Thakur, founder of Hornbill Capital Advisers.
Nazara has raised the amount from Instant Growth Limited (IGL), which is advised by Hornbill Capital Advisers LLP. IGL is an investment vehicle of the US based limited partners (LPs) of Hornbill Orchid India Fund.