नाज़ारा टेक्नोलॉजीज को 250 करोड़ रुपये जुटाने और कोफ्लुएंस में 10.7% हिस्सेदारी हासिल करने के लिए बोर्ड से मंजूरी मिली।

On January 17, Nazara Technologies announced that it has obtained approval from the board to raise Rs 250 crore from a mix of new and existing investors, including Zerodha co-founder Nikhil Kamath, Plutus Wealth, and ICICI Prudential Mutual Fund.

This milestone marks the successful realization of its targeted fundraising of Rs 750 crore, as initially announced last year. In September 2023, the company had already secured funding from SBI Mutual Fund and Zerodha co-founder Nikhil Kamath.

The funding comes as part of the diversified gaming and sports media company's strategy to amass resources for potential acquisitions, aimed at expanding its existing business ventures. Simultaneously with the fundraising declaration, Nazara revealed its acquisition of a 10.77 % stake in the influencer marketing platform Kofluence from the latter's shareholders, with a total consideration of up to Rs 32.41 crore. It is noteworthy that Kofluence's co-founder and CEO, Sreeram Reddy Vanga, had previously sold his earlier venture, OpenPlay, to Nazara Technologies for Rs 186.4 crore in August 2021.

Nazara Technologies receives approval from the board to raise Rs 250 crore and acquires a 10.7% stake in Kofluence.