Gaming firms Nazara, Delta back fantasy sports startup HalaPlay
18 March 2019 8:20 AM GMT
Mumbai-based fantasy sports startup HalaPlay Technologies Pvt. Ltd said it has raised Rs 40 crore ($5 million at current exchange
- Mumbai-based fantasy sports startup HalaPlay Technologies Pvt. Ltd said it has raised Rs 40 crore ($5 million at current exchange rate) in a Series A round from mobile game developer Nazara Technologies Ltd and casino gaming company Delta Corp Ltd, both headquartered in India.
- Fantasy sports has been on the rise, with the market being estimated to be $1 billion currently and is expected to go up to $5 billion in the next two years and, hence, this boost could not have come at a better time ensuring and enabling our growth,” Swapnil Saurav, chief executive officer, HalaPlay, said in a statement.
- The company had in November 2017 raised an undisclosed amount from early-stage investment firm Kae Capital Management Pvt. Ltd and Nazara Technologies Pvt. Ltd.
- Existing investors venture capital firm Kalaari Capital and private equity firm Multiples Alternate Asset Management had also participated in the round.
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