Nazara Technologies invests in InstaSportz marking their entry into offline and VR gaming (August 2018)
Mumbai, August 17th, 2018: Nazara Technologies Limited (Nazara), a leading mobile game company, today announced a minority investment in InstaSportz Consultancy Pvt Ltd, a Bangalore based VR gaming company. With this move, Nazara proposes to enter the offline gaming space to offer interactive entertainment via VR lounges in Tier 1 and 2 cities across India.
Instasportz is an established startup in offline VR gaming space with the vision of making millions of Indians experience the latest innovations in VR gaming thru their state-of-the-art VR gaming kiosks called Instazones. InstaSportz has partnered with India’s leading multiplex chain Carnival cinemas to set up VR zones/Instazones at their theatres, offering customers a never before experience
Instazone is a VR lounge that requires under 100 sq ft of space and is set up at premium spots inside malls, multiplexes etc. which offers customers a world-class VR experience at an affordable price point. Instasportz is currently present in Kota, City Mall Ludhiana, Silver Arc Mall, Calicut, HiLite Mall, Bangalore, Xtreme Sports Bar, Bangalore and many more are in the pipeline. They intend to be live in over 100 towns in the coming years.
According to the Founders of InstaSportz, Bigith Nambiar and KR Rahul “We aim to own the largest network of VR lounges across India and other emerging markets globally. We believe that Nazara, with its presence in 61 countries as on September 30, 2018 across emerging markets will help us in expanding our presence through strategic local partnerships. We intend to keep working on getting the innovative VR products at our Instazones so that our customers get nothing but the best VR gaming experience at an affordable price point.
With gaming becoming mainstream in India and other emerging markets in Asia, Africa and Middle East, Manish Agarwal, CEO of Nazara Technologies says “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.
With Nazara’s investment in InstaSportz, Nazara seeks to strengthen its portfolio of offerings in the virtual interactive sports genre in India and other emerging markets. The InstaSportz acquisition comes after Nazara’s investments in MasterMind Sports, Moong Labs, HalaPlay, CrimzonCode and more recently, Nazara has extended its operations in Kenya a local Kenya based company to tap the real money gaming market.
About Instasportz Consultancy Pvt Ltd
Instasportz which was set up in 2016, is a pioneer in technology backed by the sports entertainment industry. Instasportz, which is based out of Bangalore, has set up cricket simulator lanes across the country and across the globe. After establishing themselves as a market leader in cricket simulators, now Instasportz has entered the attractive VR (virtual reality) space with its innovative VR gaming kiosks called Instazones, which is growing rapidly with its presence already in 5 states in India and other global emerging markets.
Nazara Technologies Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus dated January 31, 2018 (“DRHP”) with the Securities and Exchange Board of India. The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the lead managers, ICICI Securities Limited and Edelweiss Financial Services Limited. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the Red Herring Prospectus, when available. Potential investors should not rely on the DRHP for any investment decision.
The Equity Shares of the company have not been, and will not be registered under the Securities Act of 1933 (“Securities Act”) or any other applicable law of the United States of America and unless so registered, and may not be offered or sold within the United States of America, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act, and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States of America in offshore transactions in reliance on Regulation S under the Securities Act. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.