Gaming and sports media company Nazara Technologies says it will invest $20 million in gaming startups across India, Africa and the Middle East over the next year.
It has already invested around $50 million in 13 startups over the past two years.
Besides the funds, Mumbai-based Nazara will also provide targeted mentorship on business model refinement and go-to-market strategies, according to a statement.
“Looking at the explosive growth in the interactive entertainment and sports ecosystem, Nazara has decided to up its aggression on investing in the emerging market ecosystem and support early stage startups accelerating the growth of these companies and the industry at large,” said Manish Agarwal, CEO at Nazara Technologies.
The company has been around for around two decades now and has recently expanded its presence in the gaming space by taking up significant stakes in investee companies.
- Nazara backed kids learning and entertainment platform Kiddopia run by Paper Boat Apps in October for 51% stake in the company.
- In September Nazara acquired majority stake in mobile gaming app Sports Unity.
- In August the company invested Rs 44 crore in sports content platform Sportskeeda for 67% stake.
Nazara has also invested in Next Wave Multimedia, Nodwin Gaming and HalaPlay Technologies.
Founded in 2000 by Nitish Mittersain, Nazara is backed by West Bridge Capital, IIFL Special Opportunities Fund, Rakesh Jhunjhunwala and Turtle Entertainment GmbH.
Gaming startups have seen an increase in funding during the year, with fantasy sports league platform Dream 11 even reaching a unicorn status using investment from Hong Kong based hedge fund Steadview Capital.
Digital gaming startup Mobile Premier League also raised $35.5 million from Sequoia Capital INdia and others in April.