Listed gaming giant Nazara Technologies has announced plans to continue its acquisition binge by investing in kids’ play centre company Funky Monkeys and edtech Learntube.ai, as well as acquiring a larger stake in three of its subsidiaries: Nodwin, Sportskeeda’s parent company Absolute Sport, and adtech Datawrkz. The investment will strengthen “its position in the gaming and entertainment ecosystems,” according to a statement from Nazara.
Nazara will subscribe for optionally convertible preference shares in order to invest INR 64 Cr in its esports subsidiary Nodwin. This is intended to help the gaming subsidiary grow and improve its intellectual property. It is important to remember that Nodwin is one of Nazara’s main sources of income.
Details of Further Investments
Nazara announced that it would spend INR 69 Cr to buy shares that resulted from Sportskeeda employees exercising their ESOPs. This will make it a completely owned subsidiary and raise its ownership position in Absolute to 100%. By subscribing to its mandatory convertible cumulative preference shares (CCPS), the business would spend INR 15 Cr in its adtech subsidiary. In 2022, it purchased a 33% share in Datawrkz. For INR 43.7 Cr, Nazara is purchasing a 60% share in the chain of indoor play centres. Funky Monkeys Play Centres, which was founded in 2012 by Binita Putcha and Sanjay Ghadiali, operates 11 locations around India and bills itself as the industry leader in indoor play centres for children.
According to its founders, the acquisition will enable synergies with Nazara’s digital intellectual property, namely Kiddopia. For a 4.7% share in the AI-powered edtech platform, Nazara will invest INR 4.2 Cr. In October of last year, Learntube, formerly known as CareerNinja, obtained initial commitments from investors such as Blitzscaling Ventures, Goodwater Capital, and Bisk Ventures as part of its larger $2 million seed round. It’s unclear if the Nazara funding is included in the seed funding round as well. Learntube is a platform driven by artificial intelligence that combines gamification and individualised instruction to create an engaging educational experience.
Nazara’s First AI Investment
Nitish Mittersain, the CEO of Nazara, stated in a LinkedIn post that the Learntube investment will be the company’s first AI investment. According to Mittersain, Nazara is dedicated to creating the most diverse gaming and entertainment platform in India, and many of the efforts it unveiled on December 2nd are intended to spur profitable growth in these key areas of the business’ focus. The announcement of the financing follows Nazara’s November 27 private placement transaction, in which it raised INR 855 Cr ($101.3 Mn). The financing included participation from investors such as SBI Mutual Fund, Aamara Capital, and Mithun Sacheti, the founder of Caratlane.
Nazara Expanding its Nexus
The business subsequently stated that it intended to use the funds to finance corporate expansion, make strategic acquisitions, and improve the company’s capacity to grasp fresh growth prospects. Nazara said on November 29 that it has acquired Trinity Gaming, a gaming agency and platform, for INR 24 Cr ($2.8 Mn), shortly after obtaining the new funding. Notably, during its 2024 acquisition binge, the corporation acquired shares in Pokerbaazi, Paperboat, STAN, Fusebox, Ninja Global FZCO, Freaks 4U, and Circle of Games. Nazara’s consolidated net profit for the September quarter of the current fiscal year (Q2 FY25) was INR 16.24 Cr, which is 33% less than the INR 24.18 Cr it made in the same period last fiscal year.
Most parents will rebuke their children for spending too much time on their computers, but what if they had the chance of owning the listed gaming company in India? That’s what Nitish Mittersain accomplished as a 17-year-old gamer. Nitish’s early years were nothing like other Indian families because for him a personal computer was not a toy, but a canvas for his creativity.
A son of a textile business owner, Nitish’s life has been a total rollercoaster even before he was the legal age to drink. Due to his father’s business, he was forced to deal with the underworld, and with the addition of the dot-com burst, he was left with a crippling debt of INR 3 crores.
Starting his business early and loving all things computer-based he did not pay much attention to his health. But when his wife was expecting their first child, he realized that he had become overweight and might be prone to diabetes and heart disease. When his son was born it became clear that he needed to prioritize his health by changing his diet and adding an exercise routine.
Nitish Mittersain – Biography
Name
Nitish Mittersain
Born
Mumbai
Nationality
Indian
Profession
Founder & MD of Nazara Technologies Angel and Investment Partner
Nitish started his coding and gaming curiosity at the young age of just 14 years. This was mainly due to his rich entrepreneurial background and the profound influence his grandfather had on him. Their dedication and passion for the textile business is what fueled his passion for gaming. But non-believers often told his parents that Nitish might not even go to college due to his gaming habits. But Nitish’s passion peaked when his father bought him his very own personal computer, which changed everything.
Nitish’s strong entrepreneurship value comes from his family’s understanding of value for money and he started earning his own money by polishing shoes for INR 2 a pair. They helped instill a sense of passion and the value for money that most people of his generation often overlook.
Just from 15 years of age, Nitish started his journey in the world of business. He started creating websites under Internet 3000 Technologies (3K), and at just 19 years old, he founded the company Nazrana in 1998. He recalls that even before starting his own company he worked for an agency where he created websites on a daily basis.
Two years later the dot-com crash happened and that was the toughest period for both the company and him. But it taught him the importance of cash flows, long-term sustainable business practices, and profitability. As per his statement, the dot-com crash was definitely a tough period but he gained tremendous insights from it. Only 21 when the crash happened in 2000, he found himself in debt for INR 3-4 crores with no other source of income. The years 2000-2002 were tough on him but helped shape his entire company’s philosophy. Rather than looking at vanity metrics, their focus shifted mainly toward profitability and cash flow.
Nitish Mittersain – Mentors and Milestones
Nitish Mittersain and Mentor Shammi Kapoor
Fascinated by technology, Nitish was mentored by actor Shammi Kapoor who provided him with a space for learning. Nitish admits that the actor mentored him and played a very important role in his thought process throughout his formative years. Being passionate about computers and technology, Mr. Kapoor would let Nitish use his three-four Macintosh computers to not only code but also build his business ideas.
Another turning point in his life was when Sachin Tendulkar endorsed his company for a cricket game. In 2004, after the dot-com crash when Nitish entered the gaming industry, he struck a pivotal deal with Sachin Tendulkar. Securing this deal meant that he now had a breakthrough with a major player like Airtel, who rushed to sign him on before he took his game (and Sachin Tendulkar) to another operator.
Thanks to this partnership, CNBC’s Young Turks invited Nitish which in turn caught the attention of investor Sandeep Singhal from Westbridge Captial. By 2005 the funding came through at Rs. 6 Crore for 40%.
Nitish Mittersain – Nazara’s Telco Success Model
Nitish Mittersain – Nazara’s Telco Success Model
By 2014, Nazara had mastered the telco monetization model and achieved a profit by expanding into 50 countries. The business model was based on a subscription-based gaming channel for telcos, much like Netflix. In 2014, the company made a profit of INR 250 crore.
Over the next couple of years, Nitish and Nazara found their footing and realized that telco monetization was very efficient. They established a successful model in India between 2007-2009 and then replicated it to over 50 countries (Sri Lanka, Middle East, Africa) from 2009-2014.
But Nitish continued to run his business on the lean and mean philosophy he had put into place after the dot-com crash. This meant that they not only remained profitable but were more focused on cash flow. With this ideology, his profits increased to INR 250 crores after tax, with an initial funding of only INR 12 crores.
In 2014-2015, Nitish thought about returning to his real dream of expanding into multiple genres of gaming. At that point, the Indian market has evolved thanks to mobile usage, better data access, and a jump in digital payment plans. During this time the market boom reminded him of his actual dream and presented him with the chance to expand his gaming dream.
Nitish realized that telco-based gaming was profitable but the potential for gaming was seeing a boom with the present generation. It was during this time that he built the “Friends of Nazara” strategy where they would partner with talented individuals from the gaming industry and create a synergy. This strategy meant that he would invest in their companies (with a major stake) but let the founders run their ventures with the support of Nazara.
By using this approach not only would Nitish leverage the expertise and passion for new founders but in return he would offer them strategic guidance and funding. This “House of Brands” model helped Nitish and his team stay involved in multiple ventures while the founders retained their passion and workflow independence. This pivotal shift in strategy in 2015-2016 laid the very foundation that helped him succeed.
Nitish Mittersain – Achievement with the first IPO
With the backing of the late Rakesh Jhunjhunwala (INR 200 crores), Nitish decided to go public in 2021 with Nazara. Jhunjhunwala was impressed with how he had built the company on a sustainable business model and had focused more on profitability and cash flow. Rakesh would not only invest in Nazara but also take a personal interest in it.
Nazara’s IPO is one of the most subscribed options, that achieved over 175 times oversubscription. But, in spite of such a euphoric experience, the fame and glory of the IPO’s success only lasted for a brief moment. For Nitish, the main question plaguing his mind was – what comes next? So, from the IPO the focus of the entrepreneur shifted from the company to the shareholders and meeting quarterly targets.
Post IPO Nazara still saw a boom. Revenues increased from INR 450 crores in 2021 to INR 1100 crores by 2024, with an EBITDA of INR 128 crores. Recently, Nazara raised nearly INR 950 crores with a substantial investment from SBI.
Just as other investors helped Nazara rise to its glory, Nitish has also invested in close to 90 companies as an angel investor. Talking about his investment ideas, he added that the market is changing so fast. So interacting with new founders means that not only will they learn from you, but you from them. As per his analysis, Indian startup investments will be one of the highest-returning asset classes in the world in the upcoming 10 years.
In the upcoming years, Nitish is looking forward to making more acquisitions.
Nitish Mittersain – Famous Quotes!
“(India) is a great place to be, to create wealth for themselves and for everybody here in the country. I’ve been telling a lot of startup founders that in five years, we should convert NSE into India’s Nasdaq”
“I believe that Indian startup investments will be the highest returning asset class in the world for the next 10 years.”
FAQ
Who is the owner of Nazara Technologies?
The owner of Nazara Technologies is Nitish Mittersain, the founder and managing director.
Is Nazara debt-free?
Nazara Technologies is not fully debt-free. It has raised funds through preferential share issues to support its growth plans and financial stability, reflecting some external funding reliance.
Is Nazara Technologies profitable?
Yes, Nazara Technologies is profitable. In FY24, its profit rose by 21.8%, driven by growth in e-sports and gaming segments.
On November 15, Nazara Technologies and Zerodha co-founder Nikhil Kamath’s WTFund promised to invest a total of INR 2 crore in two gaming firms, Xigma Games and Norian Games. In order to improve India’s reputation in the international gaming industry, they are investing in the next generation of domestic gaming companies. According to a joint announcement from the companies, Norian Games and Xigma Games will receive financial support as well as access to mentorship and strategic direction as a result of this investment.
According to Kamath, this fund is a first step towards helping businesses that have established themselves with their inventive games, and he said that he is very excited to watch them continue to push their boundaries.
WTFund was Launched to Nurture Young Entrepreneurs
The establishment of the WTFund, a non-dilutive grant-agnostic fund aimed at fostering young entrepreneurs under 25, was announced by Kamath in April. By investing in entrepreneurs in a variety of industries, the fund helps them grow. Nitish Mittersain, the founder of Nazara Technologies, added that the multifaceted gaming and sports media company is dedicated to developing India’s future gaming talent. “Aldian of Ancients,” a dinosaur survival simulation game for PC and console, is being developed by Norian Games, a startup based in Kerala.
In the meantime, the Bengaluru-based game development company Xigma Games has published games like “The Bonfire: Forsaken Lands” and “The Bonfire 2: Uncharted Shores,” which together have received over 10 million downloads. The games are presently accessible on Steam, the Apple App Store, and the Google Play Store. “Metal Haven,” the studio’s most recent release, is a sci-fi action-strategy game that can be played for free.
India’s Gaming Market
According to Niko Partners, a market research and consultancy organisation that focuses on video games, e-sports, and streaming in Asia, India is the fastest-growing gaming market in the region in terms of both revenue and players.
In 2024, it is anticipated that the combined revenue from mobile, PC, and console gaming will reach $943 million, an increase of 13.6% from the year before. According to the report, the market is anticipated to generate more than $1 billion in sales by 2025 and $1.4 billion in 2028, representing a compound annual growth rate of 11.1% over the next five years. These numbers exclude export and real-money gaming income.
The online gaming industry is having problems because of the regulatory ambiguity under the IT Amendment Rules, 2023, according to Aruna Sharma, a Practitioner Development Economist and former secretary, Ministry of Electronics and Information Technology (MeitY). This is because the establishment of self-regulatory bodies (SRB) was only partially completed, and there is no central regulatory authority to address the industry’s concerns. Furthermore, it is challenging for respectable domestic and foreign gaming businesses to run efficiently because of the absence of distinction between games of skill and games of chance.
The industry has been severely impacted financially by the GST hike from 18% to 28% as well as punitive tax applications. Taxation has been a major issue for the sector, according to Parth Chadha, co-founder and CEO of STAN. Owing to this, numerous online gaming businesses were forced to close their doors and lay off employees.
The digital revolution has fueled the gaming industry of India tremendously, transforming the nation into a bustling hub for game development and innovation. It was further pushed by the startup culture in which the Indian business world itself thrived. By 2019, the number of people who play online games in India crossed 300 million and it is increasing over the years.
It is expected that by 2025 global gaming market is expected to exceed $256.97 billion. As the internet became cheaper and widely accessible, the number of online gamers increased. A large number of gamers from tier 1 and tier 2 cities were added to it.
Driven by the exponential growth of internet users, increased smartphone penetration, and the rise of esports, the gaming landscape in India has evolved into an enchanting realm of opportunities for both players and entrepreneurs.
As the industry continues to gain momentum, a new generation of visionary startups has emerged, reshaping the gaming landscape and captivating the hearts of millions of gamers across the nation. From mobile gaming sensations to cutting-edge virtual reality experiences, these gaming startups have demonstrated their mettle in the highly competitive arena, setting new benchmarks for creativity, technology, and user engagement.
In this blog, we’ll delve into the captivating narratives of trailblazers who dared to dream big and turned their passion for gaming into thriving ventures. So buckle up, and let’s dive into the exhilarating world of the top gaming startups in India!
Established in 2008, Dream11 stands as one of top gaming startups in India, revolutionizing the gaming landscape by introducing sports enthusiasts to a thrilling world of fantasy sports. Catering to a wide array of sports, including cricket, kabaddi, football, basketball, and hockey, the platform has garnered immense popularity among fans looking to immerse themselves in their favorite games.
Dream11 achieved an extraordinary milestone in 2019 by becoming the first gaming startup to attain unicorn status. In a monumental move, Dream11 secured the coveted title sponsorship for the prestigious Indian Premier League (IPL) 2020 in August 2020. Since its inception, this gaming giant has set unprecedented milestones, establishing itself as the pinnacle of success and influence in India’s gaming landscape.
Founded in 2000, Nazara Technologies has emerged as a leading force in India’s gaming industry, making significant strides in transforming the gaming landscape across the nation. With an unwavering commitment to innovation and a deep understanding of the Indian gaming market, Nazara has captivated the hearts of millions, redefining how players experience and engage with digital entertainment.
It is boasting diverse segments such as subscription, freemium, e-sports, and skill-based gaming. With a global reach spanning over 64 countries, the company has been on a steady trajectory of growth, continuously expanding its influence and services worldwide. Over the years, the company has successfully acquired several prominent entities like NODWIN Gaming and Sportskeeda, solidifying its position as a key player in the gaming ecosystem and broadening its offerings to cater to a vast array of gaming enthusiasts. Today, Nazara Technologies stands tall with an impressive user base of over 100 million, a testament to the immersive and engaging gaming experiences it delivers to players worldwide.
Paytm First Games, a dynamic venture by Paytm, one of India’s leading digital payment platforms, has taken the nation by storm with its captivating and rewarding gaming experience. Launched as a part of Paytm’s ecosystem, this innovative platform brings together entertainment and gaming, offering players an opportunity to indulge in a diverse array of games while earning exciting rewards.
Since its inception, Paytm First Games has emerged as a prominent player in India’s gaming industry, catering to an extensive user base with a wide variety of gaming options. From casual games to esports tournaments, the platform offers something for every gaming enthusiast, making it an all-encompassing destination for players of all ages and interests.
It caters to a wide variety of games and has over 45 million players on board. From their launch in 2018, today they have reached their zenith as e-gaming witnesses its boom in the industry.
Since its inception, Games2Win has remained at the forefront of India’s gaming revolution, captivating players worldwide with its innovative and engaging offerings. Established in 2005 by Alok Kejriwal and Mahesh Khambadkone, this dynamic gaming company has become synonymous with top-notch gaming experiences, entertaining millions across the globe. From casual and arcade-style games to simulation and sports titles, the platform caters to a broad spectrum of gaming enthusiasts, ensuring there’s something for everyone.
They offer ads and social networks for games apart from being a traditional gaming platform. They have over 15 million users every month. Their games are available across Google, Apple, Microsoft and Amazon.
Moonfrog Labs, an online gaming startup, came into being through the collective efforts of a close-knit group of friends who were once colleagues back in 2013. Their passion and perseverance fueled the creation of a card-based game called “Teen Patti Gold,” which garnered instant acclaim, amassing an impressive 20 million downloads right from its inception.
Building upon this early success, Moonfrog Labs continued to push the boundaries of gaming innovation. Introducing a game centered around the beloved Bollywood actress Alia Bhatt, they marked India’s first-ever narrative adventure gaming experience.
They further expanded their creative repertoire, introducing India’s first war strategy game, inspired by the blockbuster movie “Baahubali.” This strategic masterpiece took players on a thrilling journey through epic battles and commanding armies, allowing them to relive the grandeur of the beloved film. With each new venture, Moonfrog Labs solidified its reputation as an innovative and trendsetting force within the gaming industry.
99 Games is a Udupi-based game company that was launched in 2008 by Rohit Bhat. Their first game Wordsworth became a hit with more than 1 million downloads among Apple users. From developing casual games for iOS, today they have expanded to Windows and Android.
In 2013, they came across a great opportunity to develop a game based on a Bollywood movie – Dhoom 3. The success it garnered opened numerous opportunities for 99Games. They subsequently developed 20 more such games. Two of them were based on movies like Fan and Sultan.
Octro
Website
www.octro.com
Headquarters
New Delhi
Founders
Saurabh Agarwal
Founded
2006
Octro – Top gaming startups in India
Octro has emerged as a trailblazing force in India’s gaming industry, captivating players with its innovative and immersive gaming experiences. The mastermind behind the famous games Indian Rummy and Tambola House was launched in the year 2006. They introduced the concept of productivity along with gaming in India. Their games are available in various forms and are tailor-made to fit both mobile phones and tablets. Hailing from Delhi, this gaming company’s innovative approach caught the attention of industry giants, and in 2014, they secured an impressive $15 million in funding from Sequoia Capital.
Established in 2014 by Rajan Navani, JetSynthesys is a prominent game development company, operating under the umbrella of the esteemed Jet Line Group. With a diversified presence in fields like fintech and digital media, the Jet Line Group has earned a reputable brand status across various industries.
JetSynthesys is hailed as a pioneer in the realm of celebrity-based gaming experiences, where they have left an indelible mark. Among their remarkable portfolio, standouts include games like “Sachin Saga Cricket Champions,” “Being Salman,” and “Bajrangi Bhaijaan.” These celebrity-inspired titles have successfully captivated players, offering an immersive and unique gaming journey.
The company has ventured into newer avenues of gaming, including the realm of virtual reality (VR) games. Demonstrating their pioneering spirit, they have already unveiled the VR version of their acclaimed “Sachin Saga Cricket Champions” game, further enriching the gaming experience for players.
From being a simple website that lets users play sudoku online, Hashcube has developed into one of the top gaming startups in India. Co-founded by Deepan Chakravarthy and Ramprasad Rajendra in 2008, the company’s journey has been nothing short of remarkable.
Today, Hashcube boasts an impressive range of games, accessible through the iOS App Store, Google Play Store, or Facebook, catering to a diverse audience. Among their standout creations are engaging titles such as “Sudoku Quest,” “Gummy Pop,” and “DotGame.” However, it is their “Sudoku Quest” that has garnered widespread acclaim, resonating with over 2 million players, making it one of the most popular game sensations to emerge from India.
Mech Mocha was founded by Arpita Kapoor and Mohit Rangaraju in 2015. Their aim was to make gaming accessible and comprehensible in tier 2 and tier 3 cities.
They have a variety of games like Ludo, carrom, cricket and knife rain to their credit. They have created a vernacular gaming platform for their users. Their mobile app is called Hello Play. Their growth has been so commendable that they have attracted investors like Accel, Blume Ventures, Shuwei Capital etc. The Indian Gaming startup was acquired by Flipkart in 2020.
Other Indian Gaming Startups
Some other gaming startups in India are:
PlaySimple Games
Rolocule
Zapak
Deftouch
Gameberry Labs
Conclusion
As we conclude our exploration of the top gaming startups in India, one thing becomes abundantly clear – the gaming industry in the country is thriving, and its potential knows no bounds. These visionary startups have harnessed the power of technology, creativity, and passion to craft exceptional gaming experiences that have resonated with players worldwide. Embrace the gaming revolution, and let the joy and excitement of these top gaming startups take you on a thrilling journey like never before!
FAQs
How many gaming companies are there in India?
According to Ambitionbox, there are over 333 gaming companies in India.
Which are the top Gaming Startups in India?
Top Gaming startups in India are:
Dream 11
Nazara Technologies
Paytm First Games
Games2Win
Moonfrog Labs
99 Games
Octro
JetSynthesys
Hashcube
Mech Mocha
How are gaming startups contributing to India’s gaming industry?
Gaming startups in India are playing a crucial role in shaping the gaming landscape by introducing unique and culturally relevant gaming experiences. They are fueling innovation, creating employment opportunities, and establishing India as a significant player in the global gaming market.
Which is the leading Game app development company in India?
Hyperlink InfoSystem is a leading game app development company in India.
Which gaming startup in India has achieved unicorn status?
Dream11 is one of the gaming startups in India that achieved unicorn status in 2019.
What are the best game developer company in the world?
Some of the best game developer companies in the world are:
Nintendo
Ubisoft
Sony Interactive Entertainment
Activision Blizzard
Epic Games
How do gaming startups monetize their games?
Gaming startups typically employ various monetization models, including in-app purchases, advertisements, subscriptions, and virtual currency systems. These strategies enable them to generate revenue while offering players free or freemium gaming experiences.
What is the future of the gaming industry in India?
The future for gaming startups in India is promising, with continued growth driven by technology adoption, an expanding user base, and the rise of esports. These startups are poised to explore new genres, embrace emerging technologies, and make India a significant player in the global gaming industry.
Jhunjhunwala is the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sits on the board of directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid-Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited and Tops Security Limited.
He is popularly referred to as the “Warren Buffett of India” and the “King of Bull Market”.
Jhunjhunwala’s stocks fell by up to 30% in December 2011. He recovered his losses in February 2012. These ups and downs forced him to reduce his vulnerability by trimming his portfolio to one-third.
His attempts to divest his Aptech stake had no takers. Jhunjhunwala invested ₹26 Crores (US$3.4 Million) in A2Z Maintenance increasing his stake in the company by 3.57%, upping his stake in the company to 23.2%.
Rakesh Jhunjhunwala startup investment in India
The first big profit of Rakesh Jhunjhunwala was ₹5 lakh in 1986. During 1986 – 1989, he earned almost ₹20-25 lakh profit. As of 2020, his biggest investment is in Titan Company which is worth ₹4,758 Crores (approx. US$600 Million).
Rakesh Jhunjhunwala will start by investing in the start-up scene of India. Mobile gaming firm Nazara Technologies, based in Mumbai, announced the acquisition of minority stake in the company for an estimated $27.99 mins by investor Rakesh Jhunjhunwala (INR 180 Cr).
Investment from Rakesh Jhunjhunwala follows the $51.1 million financing round led in the beginning of this month by the IIFL Special Opportunities Fund. “We are happy to have Rakesh Jhunjhunwala as an investor at Nazara and it is a great validation of the value increases that Nazara delivers to its existing shareholders,” said Nitish Mittersain, Managing Director and founder, Nazara Technologies.
Nazara Technologies is a mobile gaming company which acquires, adds value and sells mobile games in emerging markets. It offers massive mobile internet users mobile gaming subscriptions which consist of mainly mobile gamers in Africa, the Near East and Southeast Asia, Latin America and the Indian subcontinent for the first time. Rakesh Jhunjhunwala commented on his investment, “I still look forward to promising businesses that are the pioneers in high vertical growth. In the mobile game market, Nazara is a leading company. Nazara has a clear history of benefit delivery, cash flow, effective capital use and high ROE.
Nutrition startup Fullife Healthcare raises ₹50 crore from Rakesh Jhunjhunwala and other investors.
At its latest round, Fullife Healthcare is the organization that runs the Fast & Up brand for sports nutritional supplements.
The financing comes from established Rakesh Jhunjhunwala and Sixth Sense investors and Amansa Capital’s latest investment company Akash Prakash. One of the first supporters of the organization was Jhunjhunwala.
The business is widening its product range with recent investment and also aiming to add new markets, including the United States and Europe. In Italy it is already present.
Nazara Technologies
Rakesh Jhunjhunwala- Nazara Technologies
They are the leading diversified gaming and sports media network in India and developing and developed world markets such as Africa and North America, as well as providing services in the digital gaming, electronic sports and early learning ecosystems.
Mobile gaming company based in Mumbai submitted initial public bids documents on Friday to industry regulators. The business is renowned for the World Cricket and Chhota Bheem and Motu Patlu Championship games. Nazara is one of the largest digital gaming and sports media companies in India.
Nazara Technologies, founded in 2000 by Nitish Mittersain, is a developer and publisher of mobile games offering unique services as the Games Club, and an exclusive dealer for key developers of games like Electronic Arts, for instance. The business operates in Dubai, London, Africa, Singapore and in Mumbai. And it operates in developing markets in 61 more countries.
In India, Nazara has been licensed to use the mobile gaming rights of famous IPs such as Virat Kohli, Hrithik Roshan, Chhota Bheem, Royal Challengers-Bangalore, aand Motu Patlu. As of September 2017, in its network of Games on the Google Play Store, Nazara has been able to download more than 34 minutes of its monthly users, according to Nazara. The company also announced in the same month plans for an IPO of $156.5% by the end of FY18.
The online gaming industry in India estimates to be over $360mn worth, and is expected to rise to $1tons by 2021, according to the Google KPMG report published in May 2017. It is likely that this industry will cross over 310mn gamers throughout the country. The segment’s tremendous potential and offered an opportunity to explore several startups. Two more Smaaash and Passion Gaming start-ups have raised $3.8 million and $3.7 million in funding last month.
India makes up approximately 13% of the world’s online mobile gaming population, according to the data available. However, while the industry has expanded rapidly in recent years, most firms have faced difficulties in breaking down. In FY17, the company generated revenues in excess of $86 million (INR 550 cr) and income in excess of $10.3 million (INR 66 cr). This investment by Rakesh Jhunjhunwala as an accomplished investor is another confirmation of the profitable and sustainable gaming start-up model.
Conclusion
Nazara has invested and acquired in various gaming categories, including Esport, edutainment and infotainment, sports fantasy, multiplayer games such as carom and mobile crickets, over the years in order to increase its role in the gaming and sports sector. Others are the leading investors, in addition to Jhujhunwala, Plutus Wealth Management, IIFL Special Opportunities Fund.
FAQs
Who is Rakesh Jhunjhunwala?
Rakesh Jhunjhunwala is a business magnate, one of the most renowned and successful stock market investors in India. He has made a great fortune by trading and investing in stocks. He is an inspiration for all those who want to succeed in the Indian Stock Market.
What is the net worth of Rakesh Jhunjhunwala?
The net worth of Mr. Rakesh Jhunjhunwala is estimated to be $3.3 Billion.
What is Fullife Healthcare?
Fullife Healthcare is a startup that sells sports nutrition supplements under the brand Fast & Up.
What is Nazara?
Nazara is a digital gaming and sports media company in India.
Who is the king of share market in India?
Rakesh Jhunjhunwala is known as the King of the Share market in India. He is popularly referred to as the “Warren Buffett of India” and the “King of Bull Market”.
The global gaming market was valued at $ 151.55 billion in 2019 . This industry is expected to reach a value of $ 256.97 billion by 2025. It is expected to register a CAGR of 9.17% over the period (2020 – 2025). Gamer’s experience is what all the emerging comapnies are focusing at. Every company is eager to write codes for mobile phones, play station, xbox. All this will be provided to the users incorporated in a single cloud storage.
Role of Cloud Storage and Gaming
The market is driven by the emergence of cloud gaming. The idea of cloud gaming has been formed a reality with the advances in technology. The server is the place where all the games are stored , in cloud gaming. All the computation work is done here. The work includes game scene rendering, game logic processing video encoding, and video streaming. Companies like Onlive, G-Cluster, StreamMyGame, Gaikai, and T5-Labs are offering cloud gaming services that are commercial. This new sector seems to be a threat to the idea of traditional
This idea of cloud computing has prompted video game majors. Companies such as Sega, Ubisoft, Epic Games, Atari, Warner Bros, Disney Interactive studio to partnerships with Onlive. This will be done to distribute their games.
Startups in Gaming and Industry boost
The market growth is being propelled by new startups.This sector is seeing considerable activity from new comers.
Share of Hardware devices used for playing games
The outbreak of COVID-19 has given the gaming industry a boost.A survey in March 2020 shows that the video gamers in the United States have reported playing 45% more time than usual playing games.The gamers have reported playing more than usual every week amidst the lockdown. Esports is a gaming company that manages to make more than a billion dollars a year. Twitch’s first time download has seen a rise to the epidemic in March has risen to 14% in the U.S.A and a staggering 41% in Italy.
Mobile gaming has seen the biggest increase due to the Covid-19 measures all around the globe. Mobile games are expected to generate revenues of $77.2 billion in 2020.The industry will grow +13.3% this year. Reasons for choosing phone over PC:
Mobile gaming has the lowest need to entry: A smartphone is owned by more than two – fifths of the global population. Playing on mobile phone gives the added benefit of having free games.
Mobile gaming provide an option to PC cafes: The covid-19 situation has seen the closure of many gaming cafes. This forced gamers to move to phones on a temporary basis.
The mobile game developement is a lot easier than PC one : The mobile gaming had no major effects due to this .
The number of players on mobile phone will rise to 2.6 Billion in 2020. This would contain 38% who would pay . The growth in console marketing has slowed down. It has gone down from what it was in 2018. The expectations for next – gen consoles had its effect on sales of consoles in 2019. Due to this a lot of companies had to adjust their annual sales and savings.
Gaming scene in India
Indian mobile marketing has grown over the past few months. Growth of gaming has forced the manufacturers to make a lot of changes in the normal smartphones. A whole new type of Revolution. Not only the mobile industry but also the gaming industry is going through a revolution. The industry is growing from investments from players like Tencent , Nazara and Alibaba. The market value of Indian Gaming industry was around 62 Billion INR in 2019. This is expected to rise to 250 Billion INR till 2024. This growth indicates a growth in the number of jobs in this sector. By 2022 the strength of employees is expected to become 40 thousand.
The value of the gaming market in India was around 62 billion Indian rupees in 2019. This is estimated to go up to over 250 billion rupees by 2024. The industry is expected to generate 40 thousand new job opportunities by 2022. According to a survey a majority of Indians play a type of game daily. It showed that shooter and sports games were popular among men. The women preferred adventure and strategy games. Gaming in India has seen its peaks more in Mobile Gaming. With the availability of cheap and almost free internet mobile has become he best option. The industry is expected to grow a lot in the upcoming years.
Console Gaming In India
The market value of console Gaming in India is expected to reach about 291 million USD by 2022. The console gaming market is expected to be about 36.3 percent by 2022. The industry has seen a growth of 35.5 percent since 2016.
“PS4 sales have doubled in Q1 FY20 (April-June) as compared to Q4 FY19 (January-March). There has been an outstanding 200%+ growth in peripheral sales as well, which indicates an attitudinal shift, making gaming a more inclusive family entertainment option in India. May and June 2020 have witnessed the highest ever sales,” said Prosenjit Ghosh, Head of PlayStation Business, Sony India.
Nitin Konde
