In a surprising move, Sudhir Kamath, the Chief Operating Officer (COO) of gaming giant Nazara Technologies, has announced his resignation. Kamath will step down effective April 1, 2025, citing a desire to relocate to Delhi and spend more time with his family. His decision comes after two-and-a-half years of leading the company during a transformative period. As Nazara continues its efforts to…
PlaySuper Raises $500,000 in Seed Funding to Transform Gaming Commerce
In a big leap for the gaming industry, PlaySuper, India’s first-ever gaming commerce startup, has raised $500,000 in a seed funding round. The round was led by IAN Angel Fund and 100X.VC, with support from several high-profile angel investors. So what’s so special about PlaySuper? Well, this innovative startup is changing…
Introduction: A Major Move in Esports
In an exciting development for the gaming world, NODWIN Gaming, a subsidiary of Mumbai-based Nazara Technologies, has announced the acquisition of StarLadder, one of the biggest names in esports event production. This acquisition, valued at an initial $5.5 million (around Rs 46.75 crore), is set to reshape the landscape of esports and event management…
In a massive move that could redefine the global gaming landscape, Nazara Technologies, India’s only publicly-listed gaming and esports company, has raised a staggering Rs 495 crore (around $60 million) from Axana Estates LLP, a firm led by high-profile investors Arpit Khandelwal and Mithun Sacheti. This bold investment is set to help Nazara ramp up its operations and expand its global footprint…
Introduction: Nazara Expands Its Hold in the Sports Media Market
Nazara Technologies, a Mumbai-based gaming powerhouse, has just made a bold move in the sports media sector by acquiring an additional 10.26% stake in Absolute Sports. The deal, valued at Rs 72.73 crore, brings Nazara’s total stake in Absolute Sports to a dominant 81.94%.
This acquisition not only strengthens Nazara’s foothold in…
DPIIT and WinZO Partner to Boost India’s Gaming Ecosystem
In a major step towards transforming India into a global leader in interactive entertainment, the Department for Promotion of Industry and Internal Trade (DPIIT) has entered a strategic partnership with WinZO, one of India’s top social gaming platforms. This collaboration aims to foster growth and innovation in India’s fast-evolving…
In a recent development that has stirred the gaming industry, Openplay Technologies, a subsidiary of Nazara Technologies, secured interim relief from the Calcutta High Court regarding a substantial Goods and Services Tax (GST) demand. This case not only highlights the ongoing challenges faced by gaming companies but also raises questions about the regulatory landscape of online gaming in…
India is intensifying its efforts to regulate the online gaming sector by seeking oversight from the Financial Action Task Force (FATF). The move aims to incorporate online gaming companies into the Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) frameworks to mitigate the risks of financial crimes.
Government’s Objectives and Strategies
According to a report by The…
Nazara Technologies, a leading name in India’s gaming and sports media industry, has announced a significant strategic move with the acquisition of a 47.7% stake in Moonshine Technology Private Limited, the parent company of the popular online poker platform PokerBaazi. This acquisition is set to bolster Nazara’s foothold in the online gaming sector and solidify Moonshine as an associate…
