Halaplay a gaming startup raised Rs. 40 Crore in Series A funding round

Key Highlights

Halaplay raised Rs. 40 Crore in series A funding round led by Delta Corp and Nazara Technologies.

Delta Corp and Gaussian combinely acquire 19.55 % stack in

Halaplay has generated total revenue of Rs 2.98 crore for the fiscal year 2017-18. 

Halaplay plan to extend its user count to 10 million by this cricket season from existing 2 million.

Raising funds for a startup is as important as feeding food for running body. Both become nonfunctional if feeding ceases. In the same move, DFS (Daily Fantasy sports) startup Halaplay has raised Rs. 40 Crore in series A funding round led by casino gaming company Delta Corp and Nazara Technologies. It also raised its seed capital in November 2018 from Kae Capital and Nazara. Bengaluru based startup is going to use its raised funds in team expansion, product development and marketing of its products and services. 

According to regulatory of companies filling out of total Rs. 40 crore fund Rs. 15.5 crore is contributed by India’s only listed gaming and hospitality company-Delta Corp. It has acquired 15.52 % stack in it.

Delta through its wholly owned subsidiary Gaussian Networks, operator of Adda52 will transfer its fantasy sports division League Adda to Halaplay. Therefore Delta and Gaussian will have a combined share of 19.55 % in Halaplay. 

The two-year-old startup has raised Rs. 47 to 48 crore till know and has achieved a market valuation of approx. INR 100 Crore. Halaplay was founded in 2017 by Ananya Singhal, Swapnil Saurav, and Prateek Anand. It emerged as a leading fantasy sports company. It has 2 million registered users in its portal and is working to enhance this count to 10 million by this cricket season. The company has generated total revenue of Rs 2.98 crore for the fiscal year 2017-18. 

Nazara previously has acquired stakes in NODWIN, InstaSportz, Nextwave and Crimzone Code. It is operational in more than 75 countries including Dubai, India, Singapore, and Mauritius. It is backed by Sequoia Capital, ESL, West Bridge Capital Partners, Rakesh Jhunjhunwala and IIFL.

Investment in Halaplay is an important one for Nazara as it is going to play a crucial role to assist Nazara in fighting with its competitors.

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