Friday, March 05, 2021

Business

Nazara Technologies and Their Recent Investment Funding  

PUNJAB NEWS EXPRESS | February 16, 2021 12:31 PM

On February 9th, 2020, Nazara Technologies announced that they’d received £1 million in funding from investors. The Mumbai-based business obtained the finances from Instant Growth Ltd prior to its proposed initial public offering (IPO). This means that the game-related company will offer some of its private shares to the public in the near future. Should this happen, it will open the door to new opportunities for Nazara Technologies. So, let’s see how they’ve adopted a casino-inspired approach in establishing themselves, and consider what the future holds. 

Success Via a Casino-Inspired Approach 

By the company’s own admission, they're a leading platform in diverse gaming and sports media in India. Since coming to fruition in the late-90s, the Rakesh Jhunjhunwala-backed organisation have created numerous much-loved mobile games, including World Cricket Championship 3. At the time of writing, the Nextwave Multimedia Publication is the sequel to the most-downloaded cricket game of all time, World Cricket Championship 2. 

However, aside from creating sport-orientated smartphone titles, they’ve also embraced the modern-day popularity of real-time games. Throughout the 21st century, live developments have thrived at many online casino platforms, and a similar strategy has given Nazara Technologies the edge in India. For example, in Chennai Super Kings Battle of Chepauk 2, players can immerse themselves in Super Multiplayer mode. 

In this feature, users can play either private or public matches. Irrespective of which option is chosen, this online game mode enables players to compete in real-time cricket rooms. It’s a testament to how popular the Nextwave Multimedia development has been since its launch in November 2018 that it’s currently amassed over 10 million downloads, as per this webpage

Similarly, another company in Royal Panda have led by example in adopting a real-time approach to their digital offerings. As evident here, the operator hosts a wide-ranging array of live table games, including Live Baccarat Squeeze, Live Dragon Poker, Royal Panda Live Roulette, and much more. Powered by random number generator technology, their real-time developments offer a fast-paced, interactive experience to gamers, much like Nazara’s Chennai Super Kings: Battle of Chepauk 2. 

What Does the Future Hold for the 22-Year-Old Company? 

At the very core of their operations, several of Nazara Technologies’ creations have adopted a style that undoubtedly mirrors real-time live casino games. However, with funding from Hornbill Capital – a limited partner of Instant Growth Ltd – there's optimism that the 22-year-old gaming and sports platform can take their operations to new heights in the future. 

As per the Times of India, Manish Agarwal, Nazara’s CEO, believes that the recent funding will allow the platform to “build a formidable presence” in eSports and gaming. As such, he thinks it'll enable Nazara to play a part in developing some of the most exciting sectors in India throughout the 2020s. 

To date, Nazara have put around £30 million into the Indian gaming ecosystem, which showcases their drive to heighten the country's game-related sector. In relation to their decision to go public, such a declaration could unlock opportunities to explore new avenues in the coming years. Businesses often opt to pursue this route in an effort to raise capital to fund expansion. Moreover, going public allows them to work alongside new, forward-thinking investors. 

Striving to Create a Gaming Legacy 

At the time of writing, Nazara Technologies operate in over 60 different countries. As such, their decision to propose an IPO doesn’t concern a desire to pursue global expansion. Instead, it indicates that they’re seeking to build a game-related legacy in India and beyond. Ultimately, funding gives Nazara the tools to be creative and separate themselves from rival gaming platforms.

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