Nazara Technologies raises Rs. 100 cr funding

New Delhi: Gaming firm Nazara Technologies Ltd on Tuesday said it has raised Rs 100 crore in funding from Instant Growth Ltd. IGL is an investment vehicle of the North America based LPs of Hornbill Orchid India Fund. IGL is advised by Hornbill Capital Advisers LLP, an India-based investment advisory firm founded by Manoj Thakur in 2014. Nazara will invest the proceeds in forging alliances and acquisitions to further bolster its position in the gaming ecosystem as well as strengthening its gamified learning offerings, Nazara Chief Executive Officer Manish Agarwal told PTI.

Nazara has invested over Rs 300 crore in the last five years in the Indian gaming ecosystem. "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," Agarwal said. He added that Nazara looks forward to leveraging their experience of working with tech entrepreneurs across the globe and experience in scaling portfolio companies.

"We have been closely following Nazara's journey over several years, as it evolved into a platform for gaming and gamified early learning," Hornbill Capital founder and Managing Partner Manoj Thakur said.