Nazara plans to invest $20 million in startups across India, Africa and Middle East
Gamingcompany Nazara technologiesplans to invest $20 million in startupsnext year.
- In the last two years, Nazara invested $50 million in gaming technology startups.
- In 2019 alone, Nazara has made over 5 acquisitions.
AdvertisementIndian gaming company Nazara technologies said that it plans to invest $20 million in startups next year.
“Looking at the explosive growth in the interactive entertainment and sports ecosystem, Nazara has decided to up its aggression on investing in the emerging market ecosystem and support early stage startups accelerating the growth of these companies and the industry at large,” said Nazara Technologies CEO, Manish Agarwal.
Nazara holds the license mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu and Shikari Shambhu. It has also established itself in 64 countries across Africa, Middle East, South East Asia, and the Indian subcontinent.
In the last two years, Nazara invested $50 million in gaming technology startups and more. In 2020, it plans to invest in startups from not just India, but Africa and the Middle East as well.
In 2019 alone, Nazara has made over 5 acquisitions. In October, it acquired a 51% stake in Paper Boat Apps, a Mumbai-based indie studio for ₹83.5 crore.
In September 2019, Nazara acquired majority stake in Sports Unity, the creator of multiplayer quiz called Qunami, for ₹7.5 crore. In August, Nazara also bought 67% stake in Sportskeeda for ₹44 crore. In May, Nazara invested in local languages gaming platform Bakbuck.
It had also bet on a fantasy gaming platform Halaplay with an investment of ₹40 crore in March.
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