Nazara Technologies Limited has unveiled a series of strategic investments aimed at solidifying its position in the gaming and entertainment ecosystems.
Nazara has announced new Investments in Funky Monkeys & Learntube.ai
Nazara has expanded into physical entertainment with the acquisition of a 60% stake in Funky Monkeys Play Centers Private Limited, which focuses on indoor soft play centers for children, for Rs 43.7 crores. Funky Monkeys operates 11 centers across India, offering interactive play experiences for children.
Co-founders of Funky Monkeys, Binita Putcha and Sanjay Ghadiali, said: “We are excited to join hands with Nazara, whose vision for digital and hybrid entertainment aligns closely with ours. With Nazara’s expertise and resources, we are confident we can scale Funky Monkeys and bring even more joy to children and families across India. We also see synergies with digital IP’s owned by Nazara such as Kiddopia and will work to maximise these opportunities”
Nazara will also invest Rs 4.2 crores for a 4.7% stake in Learntube.ai, an AI-powered platform revolutionizing education with 1:1 interactive and gamified learning. Catering to over 20 lakh learners, LearnTube is the world largest personalised learning platform that offers affordable, interactive gamified learning experiences for professional skilling.
“LearnTube’s collaboration with Nazara is a bold step forward in reshaping professional learning and interactive media. We are excited to combine forces to lead innovation on a global scale,” said Shronit Ladhani, Co-founder, LearnTube.
Nazara has Increased its shareholding of existing companies
Nazara will invest Rs 148 crores in its existing subsidiaries including Sportskeeda, Nodwin Gaming, and Datawrkz to increase its ownership in them and support their growth.
Nodwin Gaming: Nazara will invest Rs 64 crores through subscription of Optionally Convertible Preference Shares to bolster Nodwin’s growth. The funds will support Nodwins expansion, enhance its intellectual properties (IPs), and strengthen its footprint in emerging markets.
Absolute Sports (Sportskeeda): Nazara will invest INR 69 crores to purchase shares arising from exercise of ESOPs from the Sportskeeda management to increase its stake to 100% in the company making it a wholly owned subsidiary.
Datawrkz: Nazara granted in-principle approval for an investment of Rs 15 crores in Datawrkz through the subscription of Compulsorily Convertible Cumulative Preference Shares to support ongoing growth of Datawrkz
Speaking on these investments, Nitish Mittersain said: “Nazara is committed to building the largest diversified gaming and entertainment platform out of India and many of our initiatives announced today are geared towards propelling profitable growth in these strategic areas of our interest.”