Nazara Technologies Pledges USD 100 Mn for Global Expansion The Mumbai-based startup will focus on established gaming IP's, studios and also those advancing in cutting-edge technologies like web3, virtual reality, and AI.
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Gaming and sports media startup Nazara Technologies Limited has planned to invest USD 100 million in mergers and acquisitions (M&A) within the next 24 months.
The present strategy follows a preferential allotment of INR 760 crore (USD 90 million) from investors, including Plutus Wealth Management, ICICI Prudential MF, and Nikhil Kamath.
As per the official release, the startup will focus on established gaming IP's, studios and also those advancing in cutting-edge technologies like web3, virtual reality, and AI.
Nitish Mittersain, Jt. MD and CEO of Nazara Technologies, said, "Nazara has seen significant success in its 'acquire and scale' strategy over the last few years as can be seen by the post-acquisition growth in Kiddopia, Nodwin Gaming and Sportskeeda among others. The USD 100 million pledge will further boost this opportunity for us in that direction. We are particularly focused on investing in and acquiring gaming studios globally with a specific focus on India's 500 million gamers as well as the large North American market".
Founded in 2000 by Nitish Mittersain, Nazara is a gaming and esports company having presence in India, US and other global markets.
Among its portfolio firms are Pro Football Network and Sportskeeda in the sports media sector, and Nodwin Gaming in the esports space. Gamified early learning solutions like Kiddopia and Animal Jam, which are claims to be industry leaders in their respective segments, are among Nazara's offerings in the interactive gaming segment.
