Halaplay raised INR 2.94 Cr. From Gaussian and Nazara

Bengaluru-based Halaplay Technologies Pvt. Ltd, the operator of daily fantasy sports platform Halaplay, has raised INR 2.94 Cr (US $ 383K) from Delta US online gaming subsidiary Gaussian Networks and Nazi Technologies.

This funding will help the brand stay ahead and also reduce the impact of its fund availability due to the postponement of the Indian Premier League (IPL) 2020 and the cancellation and postponement of other live sports events.

According to the report, Halaplay raised INR 1.19 crore (approx. US $ 157K) from Gaussian Networks Private Limited and INR 1.74 crore (approx. US $ 230K) from Nazara Technologies Limited. In this transaction, Halaplay issued 2669 shares to Gaussian Networks and 3892 shares to Nazara Technologies at a price of Rs 4395 per share. The face value of each share of Hallepel is INR 100.

Last year, Nazara resolved to invest up to $ 20 million in gaming startups and sports ecosystems in the Indian subcontinent, Africa and the Middle East in 2020. In addition to the current transaction, in December 2019, Halaplay sold 1032 shares at INR4444 per share, raising INR 5044 (US $ 66K) from Delta Corp Limited.

Halaplay  was founded in 2017 by BITS Pilani graduates Swapnil Sourav, Ananya Singhal, Prateek Anand and Aman Kesari. It offers fantasy sports for cricket, football and kabaddi among others.

While fantasy sports platforms require investment to stay afloat in this dire time, various other online poker, rummy and export platforms, which do not rely on live sports games, in fact, increase their user base across different markets. Keep in mind. Regions of India, more and more people are forced to stay at home.