Nazara picks up 10% stake in offline gaming VR startup InstaSportz

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

Leading mobile gaming company Nazara Technologies has picked up a 10% minority stake in Bengaluru-based VR gaming startup InstaSportz Consultancy Pvt Ltd. The company is expected to raise its stake from 10% to 26% by November.

With the latest investment, Nazara is looking to enter the offline VR gaming space, in order to provide interactive entertainment via VR lounges in tier 1 and tier 2 cities across India.

Talking about the investment, Manish Agarwal, CEO of Nazara Technologies, said, “At Nazara, we wish to offer interactive entertainment that blends sports, virtual reality, and arcade gaming thus offering an immersive gaming experience across all age groups. With this investment in Instasportz, we are pushing ourselves to offer gaming lead entertainment to the gamers across various touch points and aim to give them a chance to experience the Virtual Reality games at the Instazones and continue the thrill of gaming on their mobile phones once they head back home.”

InstaSportz Consultancy was founded by Bigith Nambiar and KR Rahul in 2016. It offers state-of-the-art VR gaming kiosks called Instazones to provide an enhanced gaming experience to its users. These Instazones are set up across various malls and multiplexes across the country.

The startup has also partnered with multiplex chain Carnival Cinemas Ltd, to set up Instazones at their theatres. Currently, InstaSportz is available in Kota, City Mall Ludhiana, Silver Arc Mall, Calicut, HiLite Mall, Bengaluru. Over the next few years, the startup intends to expand to over 100 towns.

InstaSportz is aiming to expand its presence by leveraging the vast Nazara network spread across 61 countries.

According to Google KPMG report in May 2017, Indian online gaming industry is expected to reach $1 billion by 2021 from the current $360 million. With constant innovations in the offline gaming world through VR and AR, the number of opportunities in the gaming space keeps on growing.

Another major player competing with Nazara in the offline gaming space is Sachin Tendulkar-backed Smaaash Entertainment, a company that provides VR gaming experience.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Ranchi Test: Centurion Rohit & Rahane pile agony on SA (Tea, Lead)

Ranchi, Oct 19 (IANS) The morning doesn't always show the day and the Proteas learnt it the hard way...

It’s vote for realistic vs populist promises in Haryana

By Vishal GulatiChandigarh, Oct 19 (IANS) It is a vote for realistic versus populist poll promises in the election to 90-member Assembly in Haryana,...

Big B: Ailments and medical conditions a confidential individual right

Mumbai, Oct 19 (IANS) Amitabh Bachchan, who was discharged from hospital on Friday night, took to his blog to express displeasure about the media's...

Taapsee Pannu appears on the Khatra Show to promote her film, shares THESE pictures

Actress Taapsee Pannu is currently in full swing with the promotions of her upcoming film 'Saand Ki Aankh', which is on the brink of...

Apple AirPods Pro With New In-Ear Design Expected To Arrive in The End October

Apple is working on the latest wireless earphones which is named as Apple AirPods Pro and company is planning to luanch this unannounced variant...
- Advertisement -

More Articles Like This