Nazara Technologies is a leading name in online gaming and it has lately announced investments worth ₹196 crore. The basic plan is to strengthen presence in entertainment, education and its subsidiaries.
The company has invested ₹43.7 crore in Funky Monkeys Play that focus on indoor play centres. Its stake in it is 60%. Funky Monkeys currently operates 11 centres across India.
Nazara has also allocated ₹4.2 crore to LearnTube.ai online platform that is equipped with more than 2 million users.
It has infused the remaining ₹148 crore into subsidiaries to support their growth. It includes ₹64 crore for Nodwin Gaming, ₹69 crore for Sportskeeda and ₹15 crore for Datawrkz. It has also increased investment in Sportskeeda and now holds a 100% stake as it has acquired shares from the company’s employee stock option plans (ESOPs).
CEO and joint managing director Nitish Mittersain said that they are focused on building the largest and most diversified gaming platform in India. The investments reflect their commitment to profitable growth in areas that they see as strategic to their future.
The company lately secured ₹855 crore through a capital round led by SBI Mutual Fund. The funds are being used in fuelling acquisitions and expanding the business.
The growth of Nazara has been evident in its recent acquisitions such as stakes in PokerBaazi’s parent company Moonshine Technology, Comic Con India and some international firms such as Ninja Global in Turkey and Fusebox Games in the UK.
The company is continuously investing aggressively and its financial performance in the latest quarter is a mixed picture. Its revenue rose 7.3% year-on-year to ₹318.9 crore and the net profit dropped by 32.7% to ₹16.2 crore.
