MUMBAI: Nazara Technologies Ltd and Delta Corp Ltd, which is India based casino gaming company, together will invest Rs 40 crore as part of Series-A funding round in an online daily fantasy sports platform, HalaPlay.

HalaPlay, launched in 2017, has seen an explosive growth in the user base and total transactions since then. It has in the past received investment from Nazara Technologies, Kae Capital, Angel List and other angel investors. The company has seen 10x user growth in the last 12 months and will exponentially grow with over 1 crore active players to play in upcoming cricket season.

Halaplay CEO Swapnil Saurav said, “Getting funding support from two of India’s largest gaming companies instills faith in us as a team taking us a notch higher in the Indian fantasy sports arena. Fantasy sports has been on the rise with the market being estimated to be $1 billion currently and is expected to go up to $5 billion in the next two years and hence this boost could not have come at a better time ensuring and enabling our growth along with.”

Nazara Technologies Ltd CEO Manish Agarwal said, “Nazara invested in HalaPlay in 2017 and we continue to be excited about the growth story of HalaPlay. We are confident that Halaplay with this fresh round of funds will ride the explosive growth of fantasy sports in India.”

Nazara has been actively pursuing opportunities in the interactive sports vertical categories and has invested in mobile gaming companies like Mastermind Sports Limited and Moonglabs Technologies Pvt Ltd apart from HalaPlay Technologies Pvt Ltd. Nazara has also taken a majority stake in Next Wave Multimedia Private Limited and Nodwin Gaming Pvt Ltd in the e sports arena in addition to recent investments in CrimzonCode and NZWorld (NZWorld Kenya Limited) to set up operations of real money gaming in Kenya.

Delta Corp MD Ashish Kapadia said, “Delta believes in the HalaPlay team and their ability to innovate in the daily fantasy sports industry. Their viral growth is proof that they have been able to build a differentiated product that users love. We are excited by their potential, and are confident that this round of funding will help propel them to even greater heights.”