Nazara Technologies Secures $49.2 Million Investment from SBI Mutual Fund to Fuel Gaming Expansion
India’s gaming giant, Nazara Technologies Limited, is poised for a significant boost with a substantial investment of $49.2 million from SBI Mutual Fund. This strategic move underscores Nazara’s commitment to advancing its presence in the gaming and sports media industry.
Funding Details
– Funding Amount: $49.2 million
– Lead Investor: SBI Mutual Fund
– Stage: Post-IPO funding
– Valuation: $230 million
Nazara Technologies, a publicly listed company, operates across three key segments: gaming, sports media, and fantasy sports. With this substantial injection of capital, the company is gearing up for a series of strategic initiatives.
Expanding Horizons
One of the primary objectives of this funding round is to facilitate strategic acquisitions and investments in gaming and sports media companies. Nazara Technologies envisions strengthening its presence in the industry by identifying and collaborating with promising ventures.
In addition to its existing ventures, Nazara has set its sights on new horizons. The company plans to explore the burgeoning realms of esports and blockchain gaming, recognizing the immense potential these sectors hold. With the gaming industry experiencing unprecedented growth, particularly in India, Nazara Technologies aims to lead the way in shaping the future of gaming and sports media.
A Long-Pursued Dream
Nitish Mittersain, CEO of Nazara Technologies, expressed his excitement about this significant milestone, stating, “Making India the gaming nation of the world has been a long-pursued dream for all of us at Nazara. India’s largest domestic mutual fund investing in Nazara is an important milestone for us in this two-decade-long journey.”
This latest development follows closely on the heels of a $12 million investment in Nazara Technologies by the founders of stockbroking firm Zerodha. These investments signal a growing recognition of the vast potential within India’s gaming industry and position Nazara Technologies as a key player in the nation’s gaming revolution.
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As the said Technologies continues to make bold strides in the gaming and sports media landscape, the infusion of funds from SBI Mutual Fund reaffirms the industry’s robust growth and the company’s commitment to realizing its vision of making India a global gaming powerhouse. Stay tuned for the exciting developments that will shape the future of gaming and esports in India and beyond.
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