Halaplay Raises INR 2.94 Cr from Gaussian, Nazara to Stay Afloat Amidst Postponement of IPL

Bengaluru-based Halaplay Technologies Pvt. Ltd, operator of the daily fantasy sports platform Halaplay, has raised INR 2.94 Cr. (About US$383K) f📖rom Delta Corp’s onl🐼ine gaming subsidiary Gaussian Networks (the company that operates Adda52) and Nazara Technologies.

The funding will help the brand stay afloat and mitigate the effect on its fun🍃d availability caused by postponement of Indi🦩an Premier League (IPL) 2020 and cancellation and postponement of other live sports events.

As per a (about US$157K) from Gaussian Networks Private Limited and INR 1.74 crores(about US$230K) from Nazara Technologi𒆙es Limited.

In this transaction, Halaplay issued 2669 shares to Gaussian Networks and 3892 shar❀es to N🥀azara Technologies at a price of INR 4395 per share. The face value of each share of Halaplay is INR 100.

Last year, Nazara had pledged to invest up to $20 million in gaming startups and sports ecosystems in th🌊e year 2020 in the Indian subcontinent, Africa and Middle-East.

Besides the current transaction, in December 2019, Halaplay raised INR 50 Lakh (about US$66K) from Delta Corp Ltd. i𝓰n lieu of 1032 shares sold at INR 4744 per share.

Earlier, in March 2019, Halaplay raised INR 40 Crore🦋 (about US$5.28 million) in Series A funding from Nazara Technologies and Delta Corp Ltd.. In this deal, Delta Corp also divested its fantas✃y sports portal LeagueAdda and transferred it to Halaplay.

🌼Halaplay was founded in 2017 by BITS Pilani graduates Swapnil Saurav, Ananya Singhal, Prateek Anand, and Aman Kesari. It offers fantasy sports games for cricket, football and kabaddi, besides others.

While fantasy sports platforms are in need of investments to stay afloat in this dire time, various other online poker, rummy and esports platforms, which are not dependent on live sports games, are, in fact, noticing an increase in their user base in various regions♊ of India, as m🦹ore and more people are forced to stay at home.