Nazara buys Kae Capital stake worth Rs 14.6 cr in Halaplay Technologies
New Delhi, Jun 12 () Gaming and sports media company Nazara Technologies on Friday said it has undertaken an equity swap of stocks from Kae Capital worth Rs 14.6 crore to become the majority stakeholder in Halaplay Technologies.
Nazara has invested in Halaplay over the years in two tranches. The first round of investment was carried out with Kae Capital in November 2017 and second round with Delta Corp in March 2019.
"The company has now gone ahead and bought Kae Captial stocks in Halaplay making them the majority investors in the fantasy sports vertical," a statement said.
Halaplay is a real money-based daily fantasy sports (DFS) platform. Launched in 2017, the company has seen a strong growth in user base and total transactions, it added.In the past, Nazara has invested in startups such as Nodwin Gaming, Next Wave Multimedia, Sportskeeda, Paper boat apps, Mastermind Sports, Moonglabs Technologies, Bakbuck, CrimzonCode, InstaSportz, NZWorld among others. SR ANS ANS
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
Popular on BI
- A 24-year-old stock trader who made over $8 million in 2 years shares the 4 indicators he uses as his guides to buy and sell
- My fiancé and I picked out my engagement ring together before he proposed, and I don't regret missing out on the surprise
- Financial inclusion made easy for India’s small merchants with Paytm’s pioneering QR codes and Soundbox
- IPL nail biters, munchies and the demand for ‘sides’
- White collar hiring activity flat in May, IT sector's woes continue: Report
- Louis Vuitton's fall is Elon Musk's gain — Tesla owner reclaims top spot in richest list
- Toyota reports highest-ever monthly sales in May at 20,410 units
- Indian aviation regulator asks airlines to frame deplaning guidelines in case of emergency