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Flush With Fresh Funds, Nazara CEO Has His Eyes On Gaming Studios & New Geographies
Inc42
·
1y ago
Medial
Nazara Technologies, the gaming firm that recently secured INR 510 Cr in funding, is planning aggressive expansion in both organic and inorganic ways. CEO Nitish Mittersain revealed that the company aims to invest in gaming studios capable of producing top-tier games tailored for the Indian and global markets. Nazara also plans to explore investments in gaming companies outside of India to expand its presence globally. The company reported a consolidated net profit of INR 61.4 Cr in FY23 and aims to leverage AI, VR, and new technologies to enhance the gaming experience.
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Related News
How Nazara Managed To Score A Point While Other Gaming Companies Cry Foul
OutlookIndia
·
1y ago
Medial
Nazara Technologies, a gaming start-up, has successfully raised INR 510 crore in recent funding despite the government's decision to impose a 28% GST on real-money gaming. The company's conservative approach, diversification strategy, and minimal exposure to real-money gaming have given investors confidence that Nazara can weather the sector's challenges. With revenue streams from various sources, such as subscriptions, platform fees, and advertising, Nazara plans to consolidate operations and continue its growth in the gaming industry. The company is also considering acquiring profitable game studios to expand its library.
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Nazara Technologies to invest $100 Mn for M&A in next 24 months
Entrackr
·
1y ago
Medial
Nazara Technologies Limited, a gaming and sports media company, has planned to invest $100 million towards mergers and acquisitions (M&A) within the next 24 months. The current plan follows a Rs 760 crore ($90 million) round via a preferential allotment from marquee investors such as Nikhil Kamath, ICICI Prudential MF and Plutus Wealth Management among others. The company will focus on established gaming IP’s, studios and also those advancing in technologies like web3, virtual reality, and AI. “Nazara has seen significant success in its ‘acquire and scale’ strategy over the last few years as can be seen by the post-acquisition growth in Kiddopia, Nodwin Gaming and Sportskeeda among others. The $100 million pledge will further enhance this opportunity for it in that direction. We are particularly focused on investing in and acquiring gaming studios globally with a specific focus on India’s 500 million gamers as well as the large North American market” said Nitish Mittersain, CEO of Nazara Technologies. Nazara’s portfolio companies include, Nodwin Gaming in the esports space, Sportskeeda and Pro Football Network in the sports media space. Nazara’s offerings across the interactive gaming segment include gamified early learning products like Kiddopia and Animal Jam which are global leaders in their respective segments.
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Nazara Invests INR 4.74 Cr In Global Gaming VC Funds
Inc42
·
1m ago
Medial
Nazara Technologies has invested INR 4.74 crore in two international gaming venture capital funds, Play Venture Fund III and F4 Venture Fund I, focusing on early-stage gaming startups. The investment positions Nazara as a limited partner in these funds. This move follows a recent announcement that Nazara's subsidiary, Nodwin Gaming, has extended its timeline to acquire a significant stake in esports content platform AFK Gaming.
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Zerodha’s Nikhil Kamath Explores Increasing Stake In Nazara
Inc42
·
1y ago
Medial
Nikhil Kamath, the founder of Zerodha, is considering increasing his stake in Nazara Technologies, a mobile gaming and sports media company, to 3.5% from the current 1%. Nazara Technologies plans to secure additional funds and is seeking board approval to raise capital through the issuance of equity shares or securities on a preferential basis. In the fiscal year 2022-23, Nazara Technologies reported a consolidated net profit of INR 61.4 crore and a 75% year-on-year increase in revenue from operations to INR 1,091 crore.
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Nazara’s publishing division partners with four Indian gaming studios
Inc42
·
1y ago
Medial
Gaming unicorn Nazara Technologies has partnered with four Indian game studios to publish five casual and mid-core games in India as part of its new publishing division. The company aims to publish 20 games within the next 12-18 months, with investments ranging from INR 1-3 crore per game. The partnership includes games like 'Gravity Shooter', 'World Cricket League', 'Hacked: Password Puzzle', 'Laser Tanks', and 'Paperly'. Nazara Technologies offers financial investment, mentorship, user acquisition, and live operations expertise to game developers.
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Nazara Raises INR 220 Cr from SBI Mutual Fund
Inc42
·
9m ago
Medial
Gaming company Nazara Technologies has secured INR 220 crore ($30 million) from SBI Funds Management. This comes after Nazara announced in September that its board had approved a preferential equity issue to raise INR 900 crore. Nazara plans to issue 2.31 million equity shares at INR 954.27 per share to SBI Funds Management. The funding will be used for business expansion and strategic investments in the gaming sector.
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Zerodha's Kamath urges Indian folks to seek gaming career for kids
Internet
·
1y ago
Medial
Zerodha's Nikhil Kamath hosted a conversation on India's gaming scene with industry leaders and gamer Animesh Agarwal on his "WTF is" podcast. They delved into gaming as a career in India, the popularity of PUBG, and earnings of gaming influencers. Kamath's investment in Nazara Technologies reflects his belief in gaming's potential. India expects to create jobs through gaming industry boom.
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Nazara eyes ₹1,000 crore game studio revenue with ₹830 crore acquisition plan
Livemint
·
1y ago
Medial
Indian gaming company, Nazara Technologies, plans to increase its game development division's annual revenue from INR 350 crore in FY23 to INR 1,000 crore by FY25. The company aims to achieve this target by utilizing a fund of INR 850 crore allocated for mergers and acquisitions. Nazara's acquisition strategy involves targeting both Indian and global gaming platforms and scaling up the acquired gaming IP. The company's focus will be on strengthening the gaming vertical, with its game studio business expected to contribute significantly to revenue growth.
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Elon Musk wants to make "gaming great again" with AI, here is how
Business Insider
·
8m ago
Medial
Elon Musk plans to disrupt the gaming industry by launching a new game development studio through his AI startup xAI. In response to a critique about the state of modern gaming, Musk expressed dissatisfaction with corporate-owned game studios and announced that his new studio will focus on making games "great again" by prioritizing fun and innovation. Powered by artificial intelligence, the studio aims to streamline game development processes and create immersive experiences free from manipulative messaging. The project aligns with Musk's broader ambitions to transform industries using AI.
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Nazara Technologies says Nodwin Gaming to raise capital from existing shareholders - The Economic Times
Economic Times
·
23d ago
Medial
Nazara Technologies has decided to de-subsidiarise its esports arm, Nodwin Gaming, as the latter is set to raise fresh capital from existing shareholders to boost its growth. This move will see Nazara's stake in Nodwin fall below 50%, changing its classification from a subsidiary to an associate company. Despite the reclassification, Nazara will remain the largest shareholder in Nodwin. The capital infusion does not involve any sale of shares by Nazara.
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