Gaming and sports media company Nazara Technologies Ltd on Monday (December 2) announced strategic investments totalling ₹196 crore to expand its presence across the gaming, entertainment, and education sectors.
This includes the acquisition of a 60% stake in Funky Monkeys Play Centers Private Ltd for ₹43.7 crore. Funky Monkeys operates 11 indoor play centres for children across India, marking Nazara’s entry into physical entertainment.
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.”
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The company has also invested ₹4.2 crore for a 4.7% stake in Learntube.ai, an AI-powered platform that offers gamified, personalised learning experiences to over 20 lakh users. “Catering to over 20 lakh learners, LearnTube is the world’s largest personalised learning platform that offers affordable, interactive gamified learning experiences for professional skilling,” Nazara Technologies said.
“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 of LearnTube.
In addition to new acquisitions, Nazara is increasing its stake in key subsidiaries. It will invest ₹69 crore to acquire the remaining shares of Sportskeeda (Absolute Sports), making it a wholly-owned subsidiary.
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Nazara will also inject ₹64 crore into Nodwin Gaming to enhance intellectual properties and expand its presence in emerging markets. “The funds will support Nodwin’s expansion, enhance its intellectual properties (IPs), and strengthen its footprint in emerging markets,” it said.
An additional ₹15 crore will be invested in Datawrkz through preference shares to support its growth. Nitish Mittersain, Joint MD and CEO of Nazara Technologies, 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.”
Shares of Nazara Technologies Ltd ended at ₹1,018.50, up by ₹17.30, or 1.73%, on the BSE.
Also Read: Nazara Tech CEO explains strategy behind latest investments
(Edited by : Shoma Bhattacharjee)
