17 Aug 2022 faisan

Visionary Investor Rakesh Jhunjhunwala funded this Online gaming platform, Now a Leading Company

Indian game developers are currently enlarging their Global Footprint in the market of Online gaming and much more. Few days back, famous investor Rakesh Jhunjhunwala put up his money for an online gaming company Nazara Technologies. They surged 20 per cent after the company admitted a 22 per cent rise in net profit for June quarter this year.

Visionary Investor, Rakesh Jhunjhunwala predicted the bright future of Online Gaming in India way back when he owned 10.03 per cent or 65.88 lakh shares of Nazara Technologies. This company has partnerships with Big game publishers, Potential Brands and Global e-sport platforms which made them a leading e-sport company in the country.

Nazara is one of the fastest-growing media platforms about gaming and sports. It developed Global markets with countries like Africa, North America. They provide many things to their customers like gaming, e-sports and gamified early learning ecosystems.

This company also owns some of the big products in the market. They have World Cricket Championship, Kiddopia in gamified early learning, NODWIN and Sportskeeda in esports and esports media, and Halaplay, Qunami and OpenPlay in skill-based and many fantasy and trivia games as well. They also got the Chhota Bheem and Motu Patlu series.

The combined net profit of Nazara Tech in the June quarter rose to INR 16.5 crore against INR 13.5 crore net profit in the quarter of the previous fiscal.

As reported by ET, CEO Manish Agarwal said, “the multi-pronged process towards capturing opportunities has received so much positive traction and "we are in line with our target growth plans for FY23".

"We have also seen stabilisation of unit economics for Gamified Early Learning business," he added.

Nazara Tech issued a statement about a $2.5 million investment in US-based game fund BITKRAFT Ventures, in April.

BITKRAFT Ventures is one of the leading investment platforms for gaming and Web3 /blockchain projects in the global market.

Owner of Nazara is now working towards building a network to acquire access into the global gaming ecosystem. It has gained multiple companies in recent years.

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