Nazara Tech acquires 60% stake in Funky Monkeys

3 Dec 2024 , 09:25 AM

Nazara Technologies Ltd, a gaming and sports media company, has announced ₹196 Crore in strategic investments to expand into gaming, entertainment, and education sectors.

This company said that the acquisition includes a 60% stake in Funky Monkeys Play Centres Private Ltd for ₹43.7 Crore. Funky Monkeys provides 11 indoor play places for children across India, which marks Nazara’s foray into physical entertainment.

Binita Putcha and Sanjay Ghadiali, co-founders of Funky Monkeys, said, “We are thrilled to collaborate with Nazara, whose vision for digital and hybrid entertainment is quite similar to our own. We are convinced that with Nazara’s skills and resources, Funky Monkeys can be scaled to offer even more delight to children and families across India.

The company injected ₹4.2 Crore for a 4.7% share in Learntube.ai, an AI-powered platform providing gamified and personalized learning experiences to over 20 lakh users. 

In addition to fresh purchases, Nazara is raising its interest in key subsidiaries. The company plans to invest ₹69 Crore for the acquisition of the remaining stake in Sportskeeda (Absolute Sports), creating a wholly-owned subsidiary.

Nazara will invest ₹64 Crore in Nodwin Gaming to develop intellectual property and grow its presence in emerging countries. The funds will support Nodwin’s expansion, enhance its intellectual properties (IPs), and strengthen its footprint in emerging markets,” according to the company’s announcement.

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