Nazara Technologies has unveiled a series of strategic investments aimed at solidifying its position in the gaming and entertainment ecosystems.
Nazara has announced new Investments in Funky Monkeys & Learntube.ai
Nazara has expanded into physical entertainment with the acquisition of a 60% stake in Funky Monkeys Play Centers Private Limited, a leader in indoor soft play centers for children, for Rs 43.7 crore. Funky Monkeys operates 11 centers across India, offering interactive play experiences for children.
Nazara will also invest Rs 4.2 crore for a 4.7% stake in Learntube.ai, an AI-powered platform revolutionizing education with 1:1 interactive and gamified learning. Catering to over 20 lakh learners, LearnTube is the world largest personalised learning platform that offers affordable, interactive gamified learning experiences for professional skilling.
Nazara has Increased its shareholding of existing companies
Nazara will invest Rs 148 crore in its existing subsidiaries including Sportskeeda, Nodwin Gaming, and Datawrkz to increase its ownership in them and support their growth.
• Nodwin Gaming: Nazara will invest Rs 64 crore through subscription of Optionally Convertible Preference Shares to bolster Nodwin's growth. The funds will support Nodwins expansion, enhance its intellectual properties (IPs), and strengthen its footprint in emerging markets.
• Absolute Sports (Sportskeeda): Nazara will invest Rs 69 crore to purchase shares arising from exercise of ESOPs from the Sportskeeda management to increase its stake to 100% in the company making it a wholly owned subsidiary.
• Datawrkz: Nazara granted in-principle approval for an investment of Rs 15 crore in Datawrkz through the subscription of Compulsorily Convertible Cumulative Preference Shares to support ongoing growth of Datawrkz.