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Nazara buys Kae Capital’s stake in Halaplay for INR 14.6 Cr

Global gaming and sports media company, Nazara Technologies, has bought  Kae Capital’s stake in Halaplay Technologies Pvt. Ltd for  INR 14.6 crores. Both are existing investors in Halaplay Technologies – a fantasy sports company.  Following this equity swap exercise Nazara has now become the largest stake holder in Halaplay.

Nazara invested in the Bengaluru based sports fantasy Company over the years in two tranches.  The first capital infusion round took place along with Kae capital in November 2017. Later, Nazara invested in Halaplay in March last year.

Nazara and Kae Capital did not disclose the financial details of this deal.

Apart from Halaplay, Nazara also owns stake in companies like Paper Boat, Sport Unity and Sportskeeda. The company had bought stake in all these companies last year. Besides, the company owns majority stakes in Next Wave Multimedia Pvt. Ltd and Nodwin Gaming Pvt. Ltd.

Nazara was founded in 2000 by Nitish Mittersain and is backed by several marque investors including West Bridge Capital, IIFL Special Opportunities Fund, Rakesh Jhunjhunwala and Turtle Entertainment GmbH. Headquartered in the financial city of Mumbai, the company over the years has emerged as a leading player in the field of mobile gaming and sports field.

Today the company boasts over 100 Million players & gamers across India and has business operations in 64 countries.

About Halaplay Technologies

Halaplay is a sport entertainment company, started by four batchmates of BITS Pilani – Goa. In January 2017, the company had launched their first product in the fantasy sports space, which was catered to serious and casual sports fans. The company currently cover worldwide cricket, football & kabaddi leagues and venturing into other sports.

 

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