Gaming firm Nazara Technologies has raised Rs 100 crore fund from Instant Growth Ltd (IGL). Explain that Rakesh Jhunjhunwala has a stake in Nazara Technologies. Nazara Tech is coming to the market soon with its IPO. For this, the company has also submitted the necessary documents in Sebi.
Manish Agarwal, CFO of Nazara Techn, has said that the fund will be used to strengthen the company’s position in the gaming industries and its game field learning offering.
Explain that this gaming firm has invested Rs 300 crore in the Indian gaming ecosystem in the last 5 years. Significantly, IGL is the investment arm of the North America-based Hornbill Orchid India firm. IGL’s advisor is Hornbill Capital Advisers, an India-based investment advisory company. It was founded in 2014 by Manoj Thakur.
Nazara Techn is an India gaming technology that makes games based on sports and all other topics. Apart from India, the company does business in many other countries including African and North American countries.
Najara was founded in the year 2000 by Nitish Mittersain, who is a noted gamer. Nazara is one of the largest gaming and sports media companies in India. Najara Technologies is known for games like World Cricket Championships, Chhota Bheem, Mota Patlu series. Its subsidiary company Nodwin Gaming organizes various gaming events across the country. The company does business in more than 60 countries like India, Africa, Middle East, South East.
In the last few years the company has built a large network of its own. The company has made several acquisitions in various gaming categories to increase penetration in the gaming and sports media space. Which includes many games like Esports, edutainment, infotainment, fantasy sports. The company has acquired multi-player games like carrom and cricket from previous years. Apart from Rakesh Jhunjhunwala, other investors such as Plutus Wealth Management, IIFL Special Opportunities Fund, Tartal Entertainment, have also invested in Najara.