Nazara Technologies Limited, a leading player in the mobile gaming and esports industry, has raised ₹495 crore (nearly $60 million) in a funding round led by Axana Estates LLP. This strategic investment aims to bolster Nazara’s position as a global gaming leader by leveraging the expertise and resources of Axana Estates’ designated partners, including Arpit Khandelwal, founder of Plutus Wealth Management LLP, and Mithun Sacheti, founder of Caratlane.
The investment, which grants Axana Estates an approximate 5.40% stake in Nazara, is subject to shareholder and regulatory approvals. Additionally, Axana Estates and Plutus Wealth Management LLP, in collaboration with Persons Acting in Concert (PACs), plan to launch a public open offer to acquire an additional 26% stake in the company.
Nazara intends to utilize the new capital for strategic acquisitions and market expansion. As part of its growth strategy, the company has acquired two popular mobile game IPs, ‘CATS: Crash Arena’ and ‘King of Thieves,’ from ZeptoLab for $7.7 million (₹67 crore). These games will now be published under the “Nazara Publishing” banner, enhancing the company’s global mobile gaming portfolio and strengthening its foothold in the international market.
“This investment marks a significant milestone in Nazara’s journey to becoming a global leader in gaming and esports. With Axana Estates and our existing promoters, we are poised to accelerate our growth trajectory through targeted acquisitions and innovative product offerings,” said Vikash Mittersain, Chairman of Nazara Technologies.
The funding follows Nazara’s earlier ₹855 crore (approximately $100 million) raise through a preferential issue, in which Mithun Sacheti had invested ₹75 crore. These cumulative investments underscore investor confidence in Nazara’s business model and growth potential.
In its Q2 FY25 financial results, Nazara reported a 7.3% year-on-year increase in revenue to ₹318.94 crore, while its profit grew by 10.85% to ₹21.97 crore. These figures reflect the company’s robust performance and its strategic focus on scaling its operations.
With this latest round of funding, Nazara is set to accelerate its mission of creating a diversified gaming ecosystem and solidify its position in the global gaming and esports market.
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