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Circle of Games raises $1 Mn from Nazara and The Hashgraph Association

EntrackrEntrackr · 1y ago
Circle of Games raises $1 Mn from Nazara and The Hashgraph Association
Medial

Web3 multi-gaming platform Circle of Games (COG) has raised $1 million in equity funding from Nazara Technologies FZ LLC, (a wholly-owned subsidiary of the Nazara Technologies Limited) and The Hashgraph Association, a Swiss-based organization. The proceeds will be used to fast-track its go-to-market strategy, improve platform capabilities, and widen its international presence in the US, EU, Middle East & Africa, and Asia in 2024. Founded by Rabilal Thapa (CEO), Rajeeb VC (CTO), and Rohit Tiwari (CMO), Circle of Games has gained over 250,000 registered Android users, with its user base expanding rapidly. The platform is scheduled to launch its app on iOS devices by Q2. With over 250,000 registered users, COG plans to expand its gaming portfolio from the current six games to over ten games by Q4 2024. COG client base includes web3 projects and ecosystems worldwide, namely Chingari, Solana, Foundership, KGeN/IndiGGMetarun, TheFishVerse, NinjaGames and various Gaming Guilds/DAOs, among others. These partnerships provide COG unique and immediate access to a 500 million gaming community in over 50 countries. Recently, Nazara announced that it has planned to invest $100 million towards mergers and acquisitions (M&A) within the next 24 months.

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Nazara acquires UK based Fusebox Games for $27.2 Mn

EntrackrEntrackr · 1y ago
Nazara acquires UK based Fusebox Games for $27.2 Mn
Medial

Gaming and sports media company Nazara Technologies has acquired Fusebox Games Limited, a UK-based gaming studio for Rs 228 crore ($27.2 million) in an all-cash transaction. Fusebox publishes an interactive story game ‘Love Island’ and is developing new games based on popular global TV IPs. In CY23, the company reported revenues of Rs 87.5 crore ($10.4 million) with an EBITDA of Rs 11.7 crore ($1.4 million). During CY24, Fusebox claims to have recorded a strong growth with year-to-date revenues (January- July 2024) at Rs 116.6 crore ($13.9 million) with an EBITDA of ~Rs 33.3 crore ($4 million). Fusebox primarily targets developed markets including the US, the UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand among others. The company has 30 employees primarily based in the UK. In March, Nazara announced that it has plans to invest $100 million towards mergers and acquisitions within the next 24 months. Since then, it has invested in Circle of Games, and acquired Kiddopia developer Paper Boat Apps. Through its subsidiaries, Nazara also acquired IP rights of Ultimate Teen Patti from Games24x7, and took over assets of Deltias Gaming. Nazara posted Rs 254.43 crore in total revenue with a profit of Rs 17.8 crore in Q1 FY25. For the fiscal year ending March 2024 (FY24), Nazara’s revenue from operations increased 4.3% to Rs 1,138 crore in FY24 from Rs 1,091 crore in FY23. The firm’s controlled cost and spike in other income helped it post a 23% growth in its profit to Rs 75 crore in FY24 from Rs 61 crore in the previous fiscal year. Earlier this year, the Nitish Mittersain-led firm raised Rs 250 crore ($30 million) from Zerodha’s co-founders-backed Kamath Associates & NKSquared, ICICI Securities, Plutus Wealth Management, and others.

Culture Circle raises $2 Mn from Info Edge Ventures

EntrackrEntrackr · 8m ago
Culture Circle raises $2 Mn from Info Edge Ventures
Medial

Culture Circle, a marketplace for sneakers and streetwear, has raised $2 million in its seed round led by Info Edge Ventures, along with participation from angel investors. The proceeds will be used to expand its collection further, strengthen our authentication technology, and continue building the luxury fashion community. Founded in 2023 by Devansh Jain Nawal and Ackshay Jain, Culture Circle is a luxury e-commerce platform boasting a network of over 3,500 sellers and a catalog of 3.5 million listings. The platform specializes in premium products, including sneakers, streetwear, and high-end fashion items such as bags, blazers, backpacks, and cardholders. Culture Circle features offerings from iconic brands like Nike, Yeezy, Dior, Supreme, Common Projects, and Louis Vuitton, among others. Headquartered in Delhi NCR, the startup has recently ventured into six international markets—Qatar, Oman, the UAE, Singapore, the UK, and Thailand—through a pilot program aimed at global expansion. Through its proprietary SourceX platform, Culture Circle enables users to compare prices and access exclusive deals on brands like Nike, Adidas, Jordans, On, Yeezy, Supreme, Balenciaga, and Dior.

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