Mumbai-based mobile gaming company Nazara has raised about $51.1 Mn in a funding round led by IIFL Special Opportunities Fund.
Commenting on the recent investment, Prashasta Seth, CEO, IIFL Asset Management Ltd, stated, “The gaming industry is expected to see growth in India & emerging markets. With its strong leadership and highly motivated team, Nazara is in a position to capture this growth and has the potential to emerge as a leading player in mobile gaming industry across emerging markets. We are happy to partner with the company in this journey and be a part of their growth story.”
Nazara Technologies is a mobile gaming company engaged in the acquisition of, value addition to and distribution of mobile games across emerging markets. It runs mobile gaming subscription services to mass mobile Internet users comprising largely of first time mobile gamers across Africa, Middle East, South East Asia, Latin America and the Indian subcontinent.
“We at Nazara, welcome IIFL AMC to join us on the exciting journey of tapping into the potential offered by gaming across the emerging markets in the Indian subcontinent, South East Asia, Middle East, Africa and Latin America,” said Nitish Mittersain, Managing Director & Founder, Nazara Technologie.
The Nazara Network: 61 Countries, 34 Mn Downloads
Founded in 2000 by Nitish Mittersain, Nazara Technologies is a mobile games developer and publisher that provides unique services such as “Games Club.” It also serves as an exclusive distributor for key game developers such as Electronic Arts. Apart from Mumbai, the company has offices in Dubai, London, Africa and Singapore. And has its operations in 61 countries across emerging markets.
As of September 2017, Nazara crossed over 34 Mn downloads with over 10 Mn monthly active users across its network of games on Google Play Store, claims the company.