Nazara Technologies

Mumbai is emerging among the preferred startup destinations for founders and investors in the country, said Dream Sports cofounder and CEO Harsh Jain and Haptik CEO Aakrit Vaish, citing the financial capital's infrastructural advancements and increasing access to resources and talent.The entrepreneurs interacted with ET ahead of the Mumbai Tech Week, an initiative aimed at promoting the city’s thriving tech ecosystem, scheduled to take place between February 18 and 23.Elevate Your Tech Prowess with High-Value Skill…

Gaming and media firm Nazara Technologies on Tuesday said its profit after tax grew 47% on year to Rs 29 crore for the quarter ended December 2023.Revenue for the quarter, however, grew by 2% to Rs 320 crore, up from Rs 315 crore a year ago. For the nine months ended December 2023, the firm saw its revenue grow by 9% to Rs 872 crore, while profit after tax jumped 44% to Rs 75 crore. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking…

Investments in Indian startups dropped about 80% on year this week, totalling $143.9 million across 26 different deals.Companies, across seed, early and late stages, had raised about $722 million in 30 rounds in the period from January 13 to 19 last year, as per data from Tracxn.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIndian School of BusinessISB Product ManagementVisitMITMIT Technology Leadership and…

Business-to-business (B2B) ecommerce firm Udaan has raised $340 million through conversion of its debt and fresh equity infusion. This and more in today’s ETtech Top 5. Also in this letter:■ ETtech Done Deals■ Wipro Consumer Care enters D2C space with Bio-essence■ Influencers lawyer up to help protect personal brandsUdaan raises $340 million in funding led by UK’s M&G Prudential Vaibhav Gupta, CEO, UdaanBusiness-to-business (B2B) ecommerce startup Udaan on Thursday said it has raised…

The country, with 42.5 crore gamers, second only to China, saw a string of e-sports events this year with substantial prize money on offer. On 27 August, e-sports firm Nodwin Gaming, a subsidiary of the only publicly-listed gaming company Nazara Technologies, concluded the second edition of its Battlegrounds India Master Series (BGMS). The tournament set up its highest-ever prize pool of ₹2.1 crore (~$252,000), with ₹1 crore (~$120,000) earmarked for the winner. It was also broadcast live on…

NEW DELHI : India’s nascent real-money gaming industry is going through a phase of consolidation, with larger firms looking at smaller startups that may help improve the former’s net user base, and in the long run, revenue. Industry stakeholders such as Mumbai-based unicorn Games24x7, as well as publicly-listed gaming firm Nazara Technologies, are among those that believe that consolidation across the industry is inevitable—but finding offers with the right valuation poses a challenge.…

Roughly two months after the return of popular online game Battlegrounds Mobile India (BGMI) after a government block, major television platforms are betting big on the game to tap the younger demographic.Star Sports, part of Disney’s Star TV network, is set to expand its broadcast of the forthcoming BGMI Masters tournament to three languages and multiple channels this year. Meanwhile, Reliance’s Jio set-top box is integrating the streaming platform Rooter, the official online streaming partner for the tournament, with…

Amid backlash from the online gaming industry over the imposition of 28% GST, Minister of State for Electronics & Information Technology (MeitY) Rajeev Chandrasekhar has said he will “request the GST council for consideration on the new regulatory framework”.The GST Council on July 11 decided to impose a 28% GST on full face value for online gaming companies."We will go back to the GST Council and request their consideration on the facts of the new regulatory framework," Chandrasekhar said while speaking at a…

In the open letter, the companies said the online skill gaming sector in India has a $20-billion enterprise valuation and generates annual revenue of $2.5 billion. The industry is expected to grow at a 30% compounded annual growth rate to reach annual revenue of $5 billion by 2025, they said.Around 130 online gaming companies and industry associations, including Mobile Premier League (MPL), Nazara Technologies, Gameskraft Technologies and Winzo Games, have jointly appealed for reconsideration of the GST Council’s…

Info Edge Ventures, the investment arm of Naukri.com parent Info Edge India Ltd, has led a $1.5 million seed funding round in metaverse gaming platform AvatarLife, the startup said in a statement on Monday. This is Info Edge Ventures’ third bet in the gaming space after fantasy e-sports platform Fanclash and augmented reality-based toymaker Mirana.The startup said that it plans to use the capital for product research and development, community building and to expand its global team.Founded last year by Sushant…