Nazara’s Paper Boat Apps Partners Moonbug To Expand Content Offerings

SUMMARY

Nazara-owned Paper Boat Apps has inked an agreement with Moonbug Entertainment to expand offerings for its flagship app Kiddopia

Under this agreement, Kiddopia will have access to Moonbug’s property ”Little Angel”

The first series of Little Angel-themed games is expected to launch in March 2025, said the company in a release

Nazara-owned Paper Boat Apps has inked an agreement with children-focused media production company Moonbug Entertainment to expand offerings for its flagship app Kiddopia.

Under this agreement, Kiddopia will have access to Moonbug’s property ”Little Angel”. By integrating these characters and storylines, Kiddopia aims to develop a series of interactive activities and games for children, Nazara said in a statement.

Kiddopia is a US-based gaming app for kids, developed and published by Paper Boat Apps.

“This partnership with Moonbug Entertainment is a significant step in enriching Kiddopia’s offering. By integrating globally beloved IP, we aim to deliver even more engaging and educational experiences for young learners worldwide,” said Kiddopia’s chief operating officer and chief financial officer Dhaval Sheth.

The first series of Little Angel-themed games is expected to launch in March 2025, said the company in a release.

Founded by Anupam and Anshu Dhanuka in 2012, Paper Boat Apps was acquired by Nazara in two tranches of investment. In 2019, the listed gaming giant acquired 50.91% stake in the company. Then in July, Nazara bought the remaining 48.42% stake by investing INR 300 Cr.

As per Nazara, Paper Boat Apps posted a consolidated revenue of INR 219.4 Cr and an EBITDA of INR 56.1 Cr in FY24.

This comes at a time when India’s gaming segment is rapidly moving upwards in the growth trajectory.

For instance, gaming startup Mobile Premier League (MPL) recently picked up a significant stake in gaming development tools provider CloudFeather Games to fortify its presence in the gaming ecosystem.

South Korean game developer KRAFTON’s India arm recently expanded the first cohort of its KRAFTON India Gaming Incubator (KIGI) with the addition of two new startups, Dunali Games and Arjuna Studios.

While speaking at the Meta Gaming Summit 2024, Meta India’s head Sandhya Devanathan said that India’s gaming space is expected to be worth almost $7.5 Bn and generate 250,000 jobs by 2025.