Total amount raised
$465 Millions
Latest funding date
01/01/2025
Location
Nazara Technologies has successfully raised funds through multiple rounds, with the latest being Post-IPO Equity. The company has garnered support from a diverse group of investors, including Axana Estates, Chartered Finance, and Rakesh Jhunjhunwala.
Keep reading to explore the intricacies of Nazara Technologies' fundraising journey and the investors backing this dynamic gaming and sports media platform.
What Is Nazara Technologies?
Nazara Technologies, founded in 2000 by Nitish Mittersain, is a mobile gaming company based in Mumbai, Maharashtra, India. The company specializes in interactive gaming, eSports, ad-tech, and gamified early learning ecosystems.
With a workforce of 101-250 employees, Nazara develops mobile content such as games, multimedia, themes, and wallpapers. They also offer solutions for promotional campaigns on mobile platforms and wireless solutions that integrate media content, marketing messages, and consumer reach.
From its beginnings as a games portal created by a tech-obsessed college student, Nazara has grown into India's only listed games company, building a diversified and profitable sports and gaming ecosystem.
How Much Funding Has Nazara Technologies Raised?
- Amount Raised: $13.7M
- Date: February 2021
- Lead Investors: Hornbill Capital Advisers
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion plans.
- Amount Raised: ₹5B
- Date: January 2021
- Lead Investors: Plutus Wealth Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's market position and support strategic initiatives.
- Amount Raised: ₹3.2B
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund new projects and expand the company's gaming portfolio.
- Amount Raised: ₹5.1B
- Date: August 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new markets.
- Amount Raised: ₹2.5B
- Date: January 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic acquisitions and enhance operational efficiencies.
- Amount Raised: ₹2.2B
- Date: October 2024
- Lead Investors: SBI Mutual Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen the company's financial position and support growth initiatives.
- Amount Raised: ₹8.6B
- Date: November 2024
- Lead Investors: SBI Mutual Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund expansion plans and enhance the company's market presence.
- Amount Raised: ₹5B
- Date: January 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and support strategic initiatives.
Total Amount Raised: $13.7M + ₹31.6B
Current Valuation: Not publicly disclosed
Key Investors
- Axana Estates LLP
- Details: Axana Estates LLP is an investment entity with designated partners Arpit Khandelwal and Mithun Sacheti. They have been involved in significant investments in the gaming and digital entertainment sectors.
- Investment Focus Areas: Gaming, digital entertainment, technology.
- Notable Investments: Nazara Technologies.
- Plutus Wealth Management LLP
- Details: Plutus Wealth Management LLP is a wealth management firm founded and managed by Arpit Khandelwal. The firm focuses on providing growth capital and strategic expertise to high-growth potential companies.
- Investment Focus Areas: Wealth management, strategic investments, high-growth sectors.
- Notable Investments: Nazara Technologies.
- SBI Mutual Fund
- Details: SBI Mutual Fund is one of India's largest mutual fund companies, offering a wide range of investment solutions across various asset classes. It is a joint venture between the State Bank of India and Amundi, a European asset management company.
- Investment Focus Areas: Equity, debt, hybrid funds.
- Notable Investments: Nazara Technologies, various equity and debt funds.
- Hornbill Capital Advisers
- Details: Hornbill Capital Advisers is an investment firm that focuses on private equity and venture capital investments. They aim to support companies with high growth potential through strategic investments.
- Investment Focus Areas: Private equity, venture capital, high-growth sectors.
- Notable Investments: Nazara Technologies.
- Plutus Wealth Management LLP
- Details: Plutus Wealth Management LLP is a wealth management firm founded and managed by Arpit Khandelwal. The firm focuses on providing growth capital and strategic expertise to high-growth potential companies.
- Investment Focus Areas: Wealth management, strategic investments, high-growth sectors.
- Notable Investments: Nazara Technologies.
What's Next for Nazara Technologies?
Nazara Technologies is poised for significant growth, driven by strategic partnerships and acquisitions. The recent Rs 495 crore investment from Axana Estates LLP, along with the acquisition of popular game IPs from ZeptoLab, positions Nazara to expand into new markets and leverage cutting-edge technologies. This influx of capital will enable the company to enhance operational efficiencies and strengthen its mobile gaming portfolio.
Future fundraising opportunities are on the horizon, with a public open offer to acquire an additional 26% stake in the company. This move could further consolidate ownership and provide the necessary funds for strategic acquisitions and organic growth. The gaming industry is seeing increased investments, and Nazara is well-placed to capitalize on these trends.
However, challenges remain. Regulatory approvals for the preferential issue and open offer are required, and integrating new acquisitions into the existing portfolio will be crucial. Additionally, maintaining operational efficiencies while expanding into new markets will be a test of the company's capabilities. Despite these hurdles, Nazara's strategic moves and industry positioning suggest a promising future.
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