Nazara Technologies, a company focused on creating mobile content around cricket, is reported to have received around $7 million (around Rs. 28 crores) in its second round of funding, reports Business Standard. Nazara had been the news last year, and indeed – earlier this year – while looking to raise $7-8 million in funding. One of the investors is probably Sequoia Capital India, which had invested $1.5 million earlier in the company for, reportedly, a 25 percent stake. We’ll probably have an update with who the other investors are, though Nazara Founder and CEO Nitish Mittersain has refused to ratify the Business Standard story.
Nazara has signed up cricketers Sachin Tendulkar, Virender Sehwag and current ODI captain Mahendra Singh Dhoni for mobile content based on them; things must have seemed rather dismal after India’s disastrous world cup performance, but have probably picked up since. Still, Nazara claims revenues of Rs 32 crores this year – more than double of the Rs. 15 crores they had quoted for the last fiscal. Industry sources are skeptical of these numbers.
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