Saturday, June 25, 2022

Nazara, Kae Capital bets on DFS start-up


Social gaming company Nazara Gaming and venture fund Kae Capital have invested an undisclosed amount in a real money daily fantasy sports platform, according to local media reports.

The platform is said to use data analytics and machine learning to help gamers draft teams, analyze their playing behaviour and enable them to make more informed decisions.

“It is an emerging trend of interactive entertainment, currently we have 200,000 registered users and about 30,000 to 40,000 of these users are active on a monthly basis,” said Swapnil Saurav, co-founder of HalaPlay.

Shubhankar Bhattacharya, venture partner at Kae Capital said he saw potential in fantasy sports as it is a large market with proven consumer demand and acceptance.

“We found much to like in how HalaPlay achieved product-market fit as a bootstrapped venture, through the sheer force of hustle and execution,” said Bhattacharya.

Manish Agarwal, CEO of Nazara Games said the company has been pursuing opportunities in the interactive virtual sports category, investing in gaming startups including Mastermind sports, Moong Labs and HalaPlay.

The Mumbai-based gaming company has also partnered with local and global mobile game developers like Stick Sports to create entertaining mobile games around physical sports.

“We will help them boost user acquisition and distribution across global markets where the game will be a right fit,” said Agarwal.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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