Bengaluru-based HalaPlay, a daily fantasy sports (DFS) platform has raised seed capital from Kae Capital and Nazara Games. Following the investment, Kae along with Mumbai-based Nazara will pick up a 32% in the gaming company.
The platform plans to utilise the funds raised to further strengthen its team and also invest in marketing efforts, reports ET.
Launched in January 2017 by Swapnil, Prateek Anand, Ananya Singhal and Aman Kesari, HalaPlay uses data analytics and machine learning to help gamers draft teams, analyse their playing behaviour and enable them to improve their fantasy skills and earn money.
“It is an emerging trend of interactive entertainment, currently we have 2 lakh registered users and about 30,000 to 40,000 of these users are active on a monthly basis,” said Swapnil Saurav, co-founder of HalaPlay.
“For each match, an average user spends Rs 300 to Rs 400 and we take a 10-15% cut from every league,” he added.
Available on web and mobile, HalaPlay will include different types of leagues in all international, domestic ODIS, T20s, test matches in cricket, English Premier League (EPL), La Liga, Champions Trophy, World Cup, Euro Cup, Copa America in football and all Indian domestic leagues in Kabaddi.
Founded in 2000 by Nitish Mittersain, Nazara Technologies, a leading mobile game publishing company, is planning to launch Rs 1,000-crore IPO by the end of financial year. The company has roped in ICICI Securities and Edelweiss Financial Services for the IPO launch, which could be the first public listing in the gaming space.
Besides HalaPlay, Nazara Games invested an undisclosed amount in game development studio Moong Labs, a developer of 3D cricket simulation games in August.