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Nazara, Delta Corp invest Rs 40 cr in Halaplay Tech

The startup, which operates a daily fantasy sports platform and counts Kae Capital as a seed stage investor, plans to use the funds to boost its marketing and product development and expand its team.

ET Bureau|
Mar 19, 2019, 08.57 AM IST
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This is the only investment in fantasy gaming by Nazara, which has been investing in segments such as real money gaming and premium esports.
BENGALURU: Mumbai-based fantasy sports company Halaplay Technologies has raised Rs 40 crore from mobile gaming startup Nazara Technologies, an existing investor, and India-listed casino gaming company Delta Corp in a Series-A round of funding.

The startup, which operates a daily fantasy sports platform and counts Kae Capital as a seed stage investor, plans to use the funds to boost its marketing and product development, and expand its team. Before this infusion, it had raised about Rs 8 crore since it was founded in January 2017 by Swapnil Saurav, Prateek Anand, Ananya Singhal and Aman Kesari.

The company said it saw a tenfold growth in the number of users in the past one year and that it was looking to grow with over one crore active players in the upcoming cricket season.

This is the only investment in fantasy gaming by Nazara, which has been investing in segments such as real money gaming and premium esports. Around 100 million Indians are expected to play fantasy sport by the end of this year, according to a joint report by Indian Federation of Sports Gaming and market research firm AC Nielsen.

The segment is currently led by Tencent-backed Dream11, which has raised over $100 million and claimed to have a user base of 50 million in February this year. Dream 11has held talks with hedge fund Steadview Capital for a fresh round of investment which may catapult its valuation to $1billion, as per a report by VCCircle.

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