21 Nov 2019

Nazara pledges to invest $20 million in startups in 2020

Nazara technologies

Social gaming and sports content company Nazara Technologies Limited has announced its intention of investing upto US$20 million in select startups in the gaming and sports ecosystem in the Indian sub-continent, Africa and Middle-East over the next one year.

The company aims to act as a catalyst to further expedite growth of gaming; esports and sports content across emerging markets. Nazara plans to infuse risk and growth capital in the selected startups besides offering mentorship to the founders of the startups that it invests in.

Commenting on the strategy, Nazara Technologies CEO Manish Agarwal noted, “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 of the industry at large.”

The company noted that it had already invested over US$50 million in 13 startups in the last two years. Nazara recently acquired majority stake in real money quiz app Qunami, daily fantasy sports platform Halaplay, sports news website Sportskeeda and preschool education app Kiddopia.