Bangalore-based HalaPlay Technologies, a Daily Fantasy Sports (DFS) platform, has raised ₹ 40 crore (~US$5.79 million) in a Series-A round of funding from its existing investor Nazara Technologies, a Mumbai-based mobile gaming startup, and India-listed casino gaming company Delta Corp.
Backed by Kae Capital as a seed-stage investor, HalaPlay plans to use the freshly raised capital to boost its marketing and product development, and expand its team.
Prior to this funding, the startup had raised about ₹8 crore in seed round in November 2017.
Founded in January 2017 by Swapnil Saurav, Prateek Anand, Ananya Singhal and Aman Kesari, HalaPlay offers the shortest and quickest version of fantasy sports where users can create a team, enter leagues and win cash prizes at the end of every game.
For Nazara Technologies, which has been investing in segments such as real money gaming and premium esports, HalaPlay is its only investment in fantasy gaming.Nazara has made a total of six investments far including InstaSportz Consultancy, an offline VR gaming startup, TrulySocial, a London-based contemporary casual social world gaming firm, among others.
Recently, Mumbai-based Dream11 Fantasy Pvt. Ltd had raised $100 million in a round of funding led by Tencent Holdings at valuation of about $700 million-$800 million. Dream11 claims to leading the fantasy gaming segment with a user base of 50 million.
In November, Bangalore-based Galactus Funware Technology Private Limited, which runs and owns e-sports platform Mobile Premier League (MPL), had raised about ₹ 36.5 crore in a Series A round of funding from undisclosed investors .
Earlier this year, Kerala Startup Mission, the nodal agency of the Kerala state government for technical entrepreneurship, has partnered with Unity Technologies, a US-based game development company, to launch a Centre of Excellence (CoE) for AR/VR and gaming, in order to help the startup culture boom in the gaming and AR/VR sectors.
Source - Economic Times
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