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Legends League Cricket raises Rs 39 Cr from Dubai-based Brickwork

EntrackrEntrackr · 1y ago
Legends League Cricket raises Rs 39 Cr from Dubai-based Brickwork
Medial

Legends League Cricket (LLC), the cricket league featuring senior cricketers, has raised Rs 39 crore from Brickwork at the valuation of Rs 350 crore. The proceeds will be allocated towards expansion plans, LLC said in a press release. Co-founded in 2021 by Raman Raheja and Vivek Khushalani, the league has six franchises, including India Capitals, Gujarat Giants, Bhilwara Kings, Manipal Tigers, Urban Risers Hyderabad, and Southern Superstars. The league is backed by investors like Vikram Singhania, Jayant Davar, Sanjay Gupta, and Arvind Singhania. The upcoming season of LLC is a franchise format, featuring six teams composed of renowned cricket legends. Among the players expected to participate are Ross Taylor, Irfan Pathan, Harbhajan Singh, Aaron Finch and Chris Gayle. Legends League Cricket (LLC) 2024 is scheduled from September 11 to October 5, 2024, with matches, which will be held in both India and Qatar. The platform says that it has reached an impressive 1.56 billion viewers globally previous year and aims to captivate even more fans. With an expanded lineup of 34 matches featuring cricket legends, it aspires to build a landmark season, enhancing cricket’s festive spirit in the region.

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House of Biryan raises Rs 32 Cr from MS Dhoni, Bestvantage and others

EntrackrEntrackr · 2m ago
House of Biryan raises Rs 32 Cr from MS Dhoni, Bestvantage and others
Medial

House of Biryan (HoB), a fast-growing food-tech platform, has raised Rs 32 crore (around $3.66 million) in a growth round led by Bestvantage Investments, along with participation from cricket icon MS Dhoni, Mohit Goyal (ex-CVC Capital), Abhineet Singh (Al Siraj Holdings), and senior professionals from SoftBank, Kedara, and APAX. Earlier in July 2024, House of Biryan had raised $2 million in a new round led by a family office from the Middle East called Al Siraj Holdings, Angel Star Ventures. The proceeds will be used to scale its presence to 120–150 outlets in the next three years, targeting revenues between Rs 450–550 crore. Founded by chefs Mohammed Bhol and Mikhail Shahani, HoB aims to make biryani a global food category on par with pizza, sushi, and burgers. The founders duo have over 25 years of Michelin-starred culinary experience. The brand currently operates 22 kitchens across Mumbai, Delhi, and Dubai and has served 2.8 million customers through 4.9 million orders, with 47% repeat usage and an average rating above 4.3. Nearly half of its Zomato traffic comes from direct searches for the brand. The firm claims to have achieved an annual revenue run rate of about Rs 50 crore and is EBITDA-positive in its core markets. It recently launched its first international cloud kitchen in Dubai and is preparing to expand into Australia, Japan, the UK, and North America. HoB competes with Rebel Foods (Faasos, Behrouz Biryani), Biryani By Kilo, and other cloud kitchen brands.

M League earns Rs 560 Cr from overseas in FY25, turns profitable

EntrackrEntrackr · 18d ago
M League earns Rs 560 Cr from overseas in FY25, turns profitable
Medial

M League earns Rs 560 Cr from overseas in FY25, turns profitable According to its consolidated financial statements filed with Singapore’s ACRA, M League’s revenue from operations surged to Rs 1,423 crore ($166.7 million) in FY25 from Rs 1,092 crore ($127.9 million) in FY24. M League, the parent company of Mobile Premier League (MPL), has recorded one of its strongest financial performances in FY25, clocking over 30% year-on-year growth and turning profitable at the group level. The turnaround, however, comes at a time when the company has had to shut down its real-money gaming (RMG) operations in India. Gaming remained the primary revenue driver, contributing $165.8 million, while the rest came from advertising and other operating activities. India was the largest market, accounting for around 60% of total revenue, followed by Europe and the US. Its German subsidiary, GameDuell Studios, a wholly owned unit, contributed nearly $60 million revenue in FY25. Advertising formed the largest expense, making up 42% of the total and rising 32.8% to $70 million. The company managed to trim employee benefit expenses by 20.5% to Rs 364 crore, while other operating costs, including payment gateway, server hosting, and professional fees, pushed total expenditure to $166.2 million (Rs 1,419 crore) in FY25. M League reported a net profit of $4.2 million (Rs 36.5 crore) in FY25, a sharp turnaround from a loss of $44.8 million (Rs 383 crore) in FY24. Its EBITDA margin turned positive at 2.45% during the last fiscal year. While FY25 marked a milestone year, the company’s outlook in India remains uncertain after the government’s move to outlaw real-money gaming. A company spokesperson told Entrackr that the latest results highlight the benefits of M League’s diversified strategy. “We didn’t put all our eggs into the India RMG basket. We have bought ourselves time and can act from a place of near-EBITDA breakeven at a group level while continuing to invest in growth areas such as GameDuell, Xsquads, and other ventures,” the spokesperson added. GameDuell grew 64% during FY25, while M League had already made early inroads into the US and Brazil by March 2025. International expansion is part of the company’s long-term vision to host a digital Olympics with players from across nations. M League maintained that its global portfolio gives it the flexibility to balance investment and returns. GameDuell has been profitable for years despite its rapid growth, and at the group level, M League has the ability to generate EBITDA whenever it chooses. M League refrained from sharing near-term projections, stating that it is too early to forecast annualized revenue after shutting down its India operations.

KRAFTON acquires majority stake in Nautilus Mobile for Rs 118 Cr

EntrackrEntrackr · 7m ago
KRAFTON acquires majority stake in Nautilus Mobile for Rs 118 Cr
Medial

KRAFTON, the company behind BATTLEGROUNDS MOBILE INDIA (BGMI), has acquired a controlling stake in Pune-based game studio Nautilus Mobile for Rs 118 crore ($13.7 million). This is KRAFTON’s first full-control deal in India. Nautilus Mobile is best known for its popular mobile cricket game, Real Cricket. JetSynthesys fully acquired the studio in 2020, and KRAFTON later invested Rs 40.5 crore in 2022. With this acquisition, KRAFTON aims to boost Indian game development and expand its presence in sports gaming. JetSynthesys will remain a minority investor and continue working with Nautilus, especially in Esports. KRAFTON India CEO Sean Hyunil Sohn said this deal will help India become a global gaming hub. Nautilus Mobile CEO Anuj Mankar said the partnership will help Real Cricket grow internationally. KRAFTON has invested over $200 million in Indian startups since 2021 and continues to support local game developers. With India’s growing love for cricket and gaming, this move strengthens KRAFTON’s position in the country’s gaming ecosystem.

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