Good morning. It’s Thursday, November 28. Nazara Technologies just raised ₹855 crore ($100M) from investors. In today’s Pixel P&L, we delve into the details of the fundraising round and what’s next for the company behind Nodwin Gaming and Sportskeeda.
Additionally, we cover a central government department’s collaboration with gaming platform WinZO, short-video app Josh’s latest pivot into casual gaming, and the launch of Team Liquid’s new 24/7 OTT platform.
Nazara Technologies Secures ₹855 Crore to Fuel Expansion
Mumbai-based gaming and sports media company Nazara Technologies has raised ₹855 crore ($100 million) through a preferential issue approved by its board on November 27. The company plans to use the capital infusion to drive strategic acquisitions, expand business and enhance its ability to seize new growth opportunities, according to The Economic Times. The allotment has received in-principle approvals from the BSE and NSE, with final listing clearance expected shortly.
SBI Innovative Opportunities Fund led the fundraising with a ₹220 crore investment for over 23 lakh shares. Other notable investors included Junomoneta Finsol and Think India Opportunities Master Fund LP, which each invested ₹150 crore. Additional contributions came from Siddhartha Sacheti, Mithun Padam Sacheti, and smaller backers such as Cohesion MK Best Ideas Sub-Trust and Discovery Global Opportunity (Mauritius) Ltd.
Nazara, which reported a 7.3% rise in revenue to ₹318.94 crore in Q2 FY25, operates subsidiaries such as Nodwin Gaming, Sportskeeda, and Kiddopia, spanning esports, media, and gamified learning.
Indian Government Body Partners with WinZO to Boost Gaming Industry
The Department for Promotion of Industry and Internal Trade (DPIIT) has entered a two-year collaboration with social gaming platform WinZO to strengthen India’s presence in the $300 billion global gaming market, a senior commerce ministry official announced on Tuesday. The initiative will support over 2,000 startups, innovators, and students through mentorship, workshops, accelerator programs, and hackathons.
At the heart of the collaboration is the creation of a Center of Excellence (CoE) aimed at addressing key challenges in the gaming sector, such as talent gaps and monetization of Indian gaming assets. The CoE will focus on fostering innovation, developing intellectual property, and creating a skilled, industry-ready workforce.
Quick Bytes
Josh Launches Instant Games to Boost Engagement, Revenue
The Indian short-video app’s in-app feature developed with ArcPlay.ai aims to enhance engagement and drive monetization. The ad-supported games allow users to earn virtual currency “Jems,” redeemable for vouchers, discount coupons, creator support, or monetary withdrawals.
Team Liquid Launches 24/7 OTT Channel
The dedicated esports channel will be available on platforms like Sling, Plex, and Fubo. It will feature content such as the “A Legacy Unrivaled” series, live matches, and esports programming, marking Team Liquid as the first esports organization to launch its own streaming TV channel.
Microsoft Delays Android Console Gaming Launch Amid Legal Dispute
The planned feature enabling Android users to buy and play Xbox console games via its app using cloud gaming services has been delayed due to a temporary court-ordered stay tied to the Epic Games vs Google legal case. Xbox President Sarah Bond said the functionality is ready but awaits a final ruling. Google defended the delay, citing security concerns, as Microsoft continues to push for growth in mobile gaming.
Scopely Opens Saudi Arabia Studio Led by EA Veteran Charity Joy
The new Saudi Arabian studio has been named ‘Mirai’ and will focus on nurturing game development talent in the MENA region. Currently hiring, the studio has not disclosed details about its projects. COO Eunice Lee said the initiative reflects Scopely’s commitment to invest in emerging markets and build world-class games.
Did You Know
Elon Musk is planning to start an AI-powered game studio under his company xAI, claiming it would "make games great again." Musk's critique of the gaming industry centers on it being too "woke" and dominated by corporations—a statement paradoxically coming from one of the world’s richest individuals, whose ventures include massive corporations like Tesla, SpaceX, and X.
Musk's vision for the studio remains vague, though it allegedly aims to create games free from "woke lectures." Critics have pointed out the irony of a billionaire-backed enterprise claiming to reclaim gaming for the people. Despite skepticism, the announcement has gained support in certain circles, fueling debates on gaming, corporate influence, and the role of AI in creative industries.
Quote of the Day
from AFK Gaming https://ift.tt/2HabTDn
Hello, my name is Jack Sparrow. I'm a 50 year old self-employed Pirate from the Caribbean.
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