Mobile gaming platform Nazara Technologies has become the majority investor in fantasy sports startup HalaPlay Technologies with the acquisition of the Kae Capital stake worth ₹ 14.6 crore in the company.
The transaction has taken place through an equity swap deal (worth $1.92 /₹ 14.6 crore) in HalaPlay stock, Nazara said in a statement.
The Mumbai-based company is already an existing investor in HalaPlay.
Nazara Technologies had invested in Halaplay over the years in two tranches; the first round of investment was carried out with Kae Capital in November 2017 and second round with Delta Corp in March 2019.
With the takeover of the Kae Captial stocks Nazara Capital has become the majority stakeholder in Halaplay, a real money based daily fantasy sports platform.
Halaplay launched in 2017, has seen explosive growth in the user base and total transactions since then.
Nazara has acquired 13 startups across sports media and gaming over the last 18 months. Some of its investments include, Nodwin Gaming, Next Wave Multimedia, Sportskeeda, Paper Boat Apps, Mastermind Sports, Moonglabs Technologies, Bakbuck, CrimzonCode, InstaSportz and NZWorld among others.