Fantasy sports startup HalaPlay raises ₹40 crores from Nazara, Delta Corp

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Bengaluru-based daily fantasy sports platform HalaPlay Technologies has raised ₹40 crores ($5.79 million) in series A round of funding from Mumbai-based mobile gaming firm Nazara Technologies and India-listed casino gaming firm Delta Corp. Nazara is an existing investor in the startup. Earlier in November 2017, the startup raised ₹8 crores in seed round from Nazara and Kae Capital.

Founded in 2017 by Swapnil Saurav, Prateek Anand, Ananya Singhal and Aman Kesari, the startup will use the freshly raised capital to boost its marketing and improve product development. Furthermore, it plans to expand its team. HalaPlay offers shortest and quickest versions of fantasy sports where users can create teams, enter leagues and win cash prizes at the end of every game.

Nazara Technologies has been investing in segments like real money gaming and premium e-sports. However, HalaPlay can be marked as it’s first investment in the fantasy gaming sector. Nazara has invested in startups like InstaSportz, an offline VR gaming startup and TrulySocial, a London-based contemporary casual social world gaming platform.

Recently, Dream11, a Mumbai-based fantasy sports startup raised ₹700 crores from Tencent Holdings at a valuation of ₹4,900 – ₹5,600 crores. In November last year, Bengaluru-based e-sports platform Mobile Premier League (MPL) raised ₹36.5 crores in series A round from undisclosed investors.

Kerala Startup Mission, the nodal agency of the Government of Kerala has tied up with a US-based game development company Unity Technologies to launch a Centre of Excellence (CoE) for Augmented Reality, Virtual Reality and Gaming in order to boost the startup culture in these emerging technologies.

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SW Staffhttps://startupwonders.com/guestpost
Startup Wonders provide startup resources, stories and news to help budding entrepreneurs grow and succeed in their business career.

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