WestBridge To Invest $2 Million In Mobile Content Company Nazara Technologies

ContentSutra Exclusive: This is a bit of news which is yet to be announced by the parties involved. But if sources are to be believed, Mumbai-based mobile content company Nazara Technologies has got funding to the tune of $2 million from early-to-growth stage venture capital firm WestBridge Capital Partners.
Nazara has various products like mobile games, wallpapers, applications and 3D mobile games. The company shot to prominence in February this year when it acquired the mobile content rights of cricket icon Sachin Tendulkar for $4 million for three years. And it’s probably the biggest mobile content license with a brand in Asia. Nazara is founded by 24 year old Nitish Mittersain, who has also held the post of Co-Chairman of the National I.T. committee at the Indian Merchants Chamber. This round of funding from WestBridge will help the company expand its product offerings and solutions.
WestBridge Capital Partners is India’s leading venture capital fund with approximately $350 million under management. The fund focuses primarily on high growth India domestic services, IT and outsourced services businesses. In the digital content space, Nazara could be the second company WestBridge has invested in. The other company is July Systems, which works in the mobile content technology space. The Nazara deal is believed to have been led by Rishi Navani, WestBridge’s Managing Director in Bangalore. Navani, when he was previously at Patricof & Co. Ventures Inc. (part of Apax Partners, a US-based VC firm), has experience in executing early stage investments in wireless companies such as Jamdat Mobile.
Interestingly, the gaming space in India is expected to see some kind of VC action shortly. Bangalore-based Dhruva Interactive, till now bootstrapped, is expected to tie up VC funds soon. Its CEO K Rajesh Rao is believed to be talking to VCs. The big daddy of gaming in India, Indiagames, started in 1999 with VC investments from Infinity and IL&FS. Last year, it received investment from Hong Kong-based TOM Online, and early this year from companies like Cisco and Macromedia.
With the VC investment in Nazara, it looks like mobile content companies will increasingly attract funds from VCs who are chasing good deals which are few and far between.
And you read this news here first.

Comments have been disabled for this post