Indian gaming firm Nazara banks $14m in new funding round

Indian gaming and sports media company Nazara has raised 1 billion rupees (US$13.7 million) in its latest round of funding, according to a statement.

More funding details

• Lead investor: Instant Growth Limited, an investment vehicle by the US-based partners of Hornbill Orchid India Fund.
• Stage: Venture round

More company updates

• Nazara said it has invested more than 3 billion rupees (US$41.2 million) over the last five years in India’s gaming scene, which includes the esports, interactive gaming, and gamified early-learning segments.
• The company claims its esports content business jumped 60% in FY2020 from FY2019 and has grown by 9x in the last three financial years.
• Nazara is proposing an initial public offering of its equity and has filed a draft red herring prospectus dated January 14, 2021.
• The funding comes after UK-based Plutus Wealth Management and its associates acquired Nazara shares worth over 5 billion rupees (US$68.6 million) earlier this year from private equity fund WestBridge Ventures II Investment Holdings.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.