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Nazara invests in VR gaming co InstaSportz

Nazara Technologies has made an undisclosed minority investment in InstaSportz Consultancy, a Bangalore based VR gaming company. Through this, Nazara will foray into offline gaming by offering VR game lounges in Tier 1 and 2 cities in India. The investment will help InstaSportz to expand its offerings within and outside of the Indian market and work on its VR products.

InstaSportz is an “offline” VR gaming provider which offers a variety of VR games like roller coaster, shooting, racing and cricket simulator games through gaming kiosks called Instazones. At present, these kiosks are present in Kota, City Mall Ludhiana, Silver Arc Mall Calicut, HiLite Mall Bangalore and Xtreme Sports Bar, Bangalore (Kerala, Rajasthan, Punjab and Karnataka). The company was started by Bigith Nambiar and KR Rahul and currently has a partnership with Carnival Cinemas to set up VR zones at the latter’s theatres. It plans to go live in 100 towns over the next few years.

Nazara’s buying spree

  • Last month, Nazara had acquired a 27.42% stake in quiz app CrimzonCode, which owns the TopQuiz franchise. It allows users to take multiple quizzes and win real money. Nazara said it would take the app to across 61 countries where it is based in.
  • In January, it acquired a 55% stake in NODWIN Gaming, which is a gaming solutions company and creator of e-sports events.
  • In the same month, it invested an undisclosed amount for a majority stake in gaming and multimedia startup NextWave Multimedia.
  • In 2017 and 2016, Nazara also invested in MoongLabs, TrulySocial and Mastermind Sports.

Kenya expansion

In June this year, the IPO bound company said that it was planning to launch sports betting, sports fantasy, Sports Arcade and Sports Real Money Quiz in Kenya after acquiring a betting license in the country. It has set up a subsidiary called NZWorld Kenya Limited, in which it holds 70% stake, and has acquired the license from the Betting Control Board of Kenya.

Competition

  • In July last year, Paytm parent One97 formed a 55:45 joint venture with AGTech Holdings, an Alibaba Group owned unit, to provide “entertainment products and services”, including casual mobile and social games, to Indian users.
  • In May last year, Bangalore based mobile gaming startup Mech Mocha, a raised $5 million.
  • Other companies include: Viaan Studios, 99Games, Games2win, PlaySimple.

Also read: eSports major ESL picks up minority stake in Nazara

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