Nazara Technologies, a prominent gaming and sports media company based in Mumbai, has unveiled a strategic investment plan totaling ₹196 crore to accelerate growth across its diverse entertainment verticals. Founded in 1999 by Nitish Mittersain, who also serves as CEO and Joint Managing Director, Nazara continues to expand its footprint in the gaming industry.
Venturing into Physical Entertainment
In a significant move, Nazara has acquired a 60% stake in Funky Monkeys Play Centers Private Limited for ₹43.7 crore. Funky Monkeys, co-founded by Binita Putcha and Sanjay Ghadiali, operates 11 indoor play centers across cities like Mumbai, Bengaluru, and Chennai, offering interactive environments for children. This acquisition marks Nazara's entry into physical entertainment, aiming to integrate digital and physical play experiences.
Foray into EdTech
Nazara is also entering the educational technology sector by investing ₹4.2 crore for a 4.7% stake in LearnTube.ai, an AI-driven learning platform serving over 2 million users. Co-founded by Shronit Ladhani, LearnTube provides gamified professional learning experiences, aligning with Nazara's focus on interactive content. This investment reflects Nazara's commitment to diversifying its offerings and enhancing user engagement.
Strengthening Core Subsidiaries
- To bolster its existing subsidiaries, Nazara plans to invest ₹64 crore in Nodwin Gaming through Optionally Convertible Preference Shares. This infusion aims to support Nodwin's expansion and enhance its intellectual properties. Additionally, Nazara will invest ₹69 crore to acquire shares from Sportskeeda's management, increasing its stake to 100% and making it a wholly-owned subsidiary. An in-principle approval has also been granted for a ₹15 crore investment in Datawrkz, focusing on its ongoing growth.
Strategic Vision and Future Outlook
These investments underscore Nazara's strategic vision to build a comprehensive gaming and entertainment platform. By integrating physical play centers, educational technology, and strengthening core subsidiaries, Nazara aims to enhance its market position and deliver diverse entertainment experiences. The company's proactive approach reflects its commitment to innovation and growth in the dynamic gaming industry.
Source: ISN