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Nazara Technologies gets $13.7m in funding

Hornbill Capital enters the Indian games industry with INR 100 Crore investment

Nazara Technologies has raised $13.7 million in new funding from the Indian VC firm Hornbill Capital Advisers.

The 100 Crore (INR 1 billion) investment marks Hornbill's first such deal in the Indian gaming ecosystem -- where Nazara Technologies has been a leading player for many years.

In a statement released today, Nazara CEO Manish Argawal said that the deal would give the company access to Hornbill's expertise in helping consumer-facing companies to grow.

"Through prudent capital allocation, we believe that the team at Nazara has demonstrated their ability to build a formidable presence in esports, gamified early learning and mobile gaming -- some of the most exciting spaces in India over the next decade," said Manoj Thakur, founder of Hornbill Capital Advisers.

In the last three years, Nazara has acquired majority stakes in Nextwave Multimedia, Nodwin Media, and Paper Boat Apps.

The esports firm ESL acquired a minority stake in Nazara in February 2018.

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Matthew Handrahan: Matthew Handrahan joined GamesIndustry in 2011, bringing long-form feature-writing experience to the team as well as a deep understanding of the video game development business. He previously spent more than five years at award-winning magazine gamesTM.
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