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Nazara Technologies raises INR 100 Cr funding through Hornbill Capital

George Miller

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Nazara Technologies raises INR 100 Cr funding through Hornbill Capital Advisers LLP
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Nazara Technologies Limited (Nazara), a leading India based diversified gaming and sports media platform, today announced that Nazara has raised an amount of INR 100 Cr from Instant Growth Limited (IGL) which is advised by Hornbill Capital Advisers LLP. IGL is an investment vehicle of the North America based limited partners (LPs) of Hornbill Orchid India Fund.

Hornbill Capital Advisers LLP (Hornbill Capital) is an India based investment advisory firm founded by Manoj Thakur in 2014. Hornbill Capital acts as an advisor to Hornbill Orchid Investment Manager Private Limited which manages Hornbill Orchid India Fund, a Mauritius based hedge fund that invests in India as a Foreign Portfolio Investor.

Commenting on the recent investment made through Hornbill Capital Advisers LLP, Manish Agarwal, CEO, Nazara says, “We welcome Hornbill Capital’s entry into the Indian gaming ecosystem with their investment in Nazara. We are glad that they share our conviction and excitement on the future of the gaming sector in India and the value creation potential which gaming offers to the investors. The leadership team of Hornbill Capital has been part of the growth story of many consumer internet companies and we at Nazara look forward to leveraging their experience of working with some of the smartest tech entrepreneurs across the globe and having an inside view of blitz scaling of their portfolio companies in the last decade.”

Commenting on the Nazara investment, Manoj Thakur, Founder & Managing Partner, Hornbill Capital Advisers LLP said, “We have been closely following Nazara’s journey over several years, as it evolved into a platform for gaming and gamified early learning. The leadership team of Nitish and Manish have built Nazara into an attractive ecosystem for some of the most promising entrepreneurial talent in the Indian gaming and early learning space. Through prudent capital allocation, we believe that the team at Nazara has demonstrated their ability to build a formidable presence in esports, gamified early learning and mobile gaming – some of the most exciting spaces in India over the next decade.”

Earlier this year, Plutus Wealth Management and its associates acquired shares worth over INR 500 Cr in Nazara from WestBridge Ventures II Investment Holdings, marking a complete exit for WestBridge Ventures II Investment Holdings.

Nazara has invested over INR 300 Cr in the last 5 years in the Indian gaming ecosystem. Having consummated multiple transactions over the past few years, Nazara has placed itself in a leading position in esports, interactive gaming and gamified early learning space. Nazara has acquired a majority stake in Nodwin Gaming Pvt. Ltd (57.05%); Next Wave Multimedia Pvt. Ltd. (52.38%), which operates World Cricket Championship (WCC), the largest mobile-based cricket simulation game, in addition to investment in Absolute Sports Private Limited, which operates Sportskeeda (63.90%) and Paper Boat Apps Private Limited (50.91%) – gamified early learning subscription app.

Asia

Five Groups Qualify to Enter Next Phase of Nagasaki IR Process

Niji Narayan

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Five Groups Qualify to Enter Next Phase of Nagasaki IR Process
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All the five groups that entered Nagasaki prefecture’s request-for-proposal (RFP) process with the aim of participating in its bid for an integrated resort (IR) licence have qualified for the next phase of the process.

The five groups are: a consortium led by Oshidori International Holdings Ltd; Casinos Austria International Japan; Current Group; the Niki Chau Fwu (Parkview) Group; and One Kyushu, a consortium between Tokyo-listed Pixel Companyz Inc and French gaming operator Groupe Partouche SA.

The prefecture will complete a “first round” of evaluation of would-be partners this month to reduce the list of bidders to three. After that, a second round will include a “competitive dialogue” with would-be partners. The groups will then have to present their projects in August for the prefecture to make a final decision.

Japan plans to initially approve three integrated resorts in the country. Proposals must include a casino, tourism attractions, hotels and meeting spaces.

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Asia

game.tv launches new campaign #GrowingStronger to encourage growing female gamers in India this International Women’s day

George Miller

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game.tv launches new campaign #GrowingStronger to encourage growing female gamers in India this International Women’s day
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game.tv, the AI-powered mobile esports platform, has announced a new campaign ‘#GrowingStronger’ signifying the growing female mobile gaming segment in the country. The company launched a special season of the ‘Divas Scrim Wars’ tournament with a ₹50k pool prize aiming to amplify participation from Indian female gamers along with hosting a virtual women-only panel discussion with some of the biggest names in the esports gaming space. The mobile esports platform has also scheduled casting auditions for female gamers and streamers for its upcoming Divas Scrim Wars season. The power packed Women’s week is one step towards the company’s commitment to cater to the growing female gamer segment in India.

Commenting on the initiatives, Rosen Sharma, CEO game.tv says, “India has a vast pool of talented female gamers, casters who are waiting for a platform to help them spread their wings into the world of esports and mobile gaming. We are committed to enabling and empowering the growing female gaming segment in India and #GrowingStronger campaign is the right step to honor these gamers this Women’s day. The female gamers here are just getting started, and we are excited to be leading their way.”

Divas Scrim Wars is one of many unique community-based tournaments by game.tv. It was created with the sole purpose of engaging and empowering the growing female gaming community in India. Divas Scrim Wars is currently in it’s 32nd Season. Tournament entries have begun with the Women’s Day special finale scheduled for 08th March. The mobile esports platform also plans to host a special women-only panel discussion on a YouTube livestream on 06th March talking about ‘Women in Gaming: Growing Stronger’ featuring top female gamers including Soneeta – Nepal’s leading Free Fire content creator with 3.8 million subscribers on YouTube. Winners of the prize pool will be announced on 09th March. Casting registrations will be open from 04th March, where aspiring female gaming commentators can take a shot at making their dreams a reality. Winners to be announced on 07th March.

Working with game.tv on the initiative, YouTuber Sunita Thapa Magar popularly known as Sooneeta says, “We are happy to work with game.tv who have constantly supported the female gaming segment and this Women’s Day is no exception. Giving women a larger platform to discuss the future of our industry while being a part of it and earn from it is something that will only help the segment grow. We hope to see many such initiatives in the future that will help us create our mark in the Indian esports industry.”

Watch the panel discussion ‘Women in Gaming: Growing Stronger’ and live matches from the Divas Scrim Wars on the CriticalX Free Fire YouTube Channel . Enroll yourself for casting auditions on the CRX Discord server and follow game.tv on Instagram to keep an eye out for #GrowingStronger on any and all updates on Women’s week at game.tv

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Asia

Indian Gaming League announces the launch of IGL Championship Cup Season 1

George Miller

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Indian Gaming League announces the launch of IGL Championship Cup Season 1
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Indian Gaming League, India’s recognized competitive gaming and esports league and the one-stop hub for all the gaming enthusiasts has announced the launch of Indian Gaming League Championship Cup Season 1. This will be a first of its kind tournament in the online gaming and esports segment aiming to boost the esports segment in India and to cater to the gamers increasing demand for innovative and interactive games.

The tournament that will witness users playing and competing in six thrilling games. The match is all set to commence from 15th March 2021 and will conclude on 28th April 2021. This is an open tournament and the users can directly register themselves from the official website to participate.

The users have a reason to rejoice as they also have an opportunity to win exciting prizes worth Rs.2.5 lakhs. The match will also be accompanied with the Indian Gaming League Awards, the first of its kind high-end virtual awards night to felicitate the winners of the championship. The gala event will be hosted by MTV’s fame Rannvijay Singha and Anusha Dandekar.

Mr. Yash Pariani, CEO, Indian Gaming League, expresses his elation over the announcement, “E-sports despite being a recent entrant in the market has picked up the pace and its future indeed seems promising. With the launch of the IGL Championship Cup Season 1 we wish to provide our gaming community what they desire, innovative experience in esports. Our main motto for hosting such tournaments is to boost the esports segment in India and also to push the growth of content creators. Considering that they are a budding community, they have a lot of potential and they possess the capability to tap to the masses. Hence, a lot of companies are providing them the required platform so that they can post original content. We thought of this as a great opportunity and realized that foraying into this segment via our tournaments will be a successful deal. Hence, we devised the idea of IPL Championship Cup Season 1 and decided to join the venture. We are anticipating a great response from the gamers. Fingers crossed that the championship has a good run.’’

Launched in 2016, Indian Gaming League has successfully created a position for itself. It has earned a huge user base and has been able to grow it threefold in the last 12 months. It also hosted over 3000 gaming tournaments in 2020.

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