Nazara raises USD 51 M in funding for its mobile gaming business

Mobile gaming startup Nazara raises USD 51 M

Nazara

Founder: Nitish Mittersain

Founded in: 2000

Financing status: USD 51 million for undisclosed round in 2017

Mumbai-based mobile gaming startup Nazara has raised approximately USD 51 million in a funding round led by IIFL Special Opportunities Fund.

Nazara was founded in 2000 by Nitish Mittersain. Mittersain, a graduate of Sydenham College of Commerce & Economics, previously worked as a Board Director at MEF Mobile.

Nazara is a mobile content platform provider as well as game publisher. The startup produces games like Hrithik Bike Racing, Motu Patlu Run, StickCricket Virat & Rohit, etc. It also runs gaming subscription service across 60 countries covering Africa, Middle East, Southeast Asia, etc. Nazara claims to own exclusive mobile gaming rights to popular IP’s like Virat Kohli, Rohit Sharma, Hrithik Roshan, Chhota Bheem, Motu Patlu. The startup’s partners include Google, Vodafone, Airtel, etc. It has offices in Dubai, London, Africa, and Singapore.

Commenting on the investment, Prashasta Seth, CEO of IIFL Asset Management Ltd., said that “The gaming industry is expected to see growth in India & emerging markets. With its strong leadership and highly motivated team, Nazara is in a position to capture this growth and has the potential to emerge as a leading player in the mobile gaming industry across emerging markets. We are happy to partner with the company in this journey and be a part of their growth story.”

Other players in the gaming area in India include Mech Mocha, Baadshah Gaming, Hypernova Interactive, and more.

(Top photo from Nazara website)

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