Nazara Technologies Announces the First Investment from its Game Fund to Mobile Gaming Start-up HashCube

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Leading mobile game developer and publisher, Nazara Technologies, announced the first investment from its Rs.10 crore Game Fund in Bangalore based cross platform social gaming start-up, HashCube. Nazara Technologies has led this Series A round of investment in which HashCube has raised Rs.4.2 crore overall with participation from Perry LaForge, Ah Ventures and existing investors Indian Angel Network and Blume Ventures.

The Nazara Game Fund aims to support young mobile gaming start-ups. Through this fund, the company plans to invest in promising early stage gaming studios with investments ranging anywhere from Rs.25 lakh to Rs.2 crore. In addition to the funds, Nazara Technologies will also commit its expertise to help these start-ups expand their capabilities and create high quality mobile games. This initiative is a first of its kind in the mobile gaming industry and is a testimony to Nazara’s commitment to nurturing an ecosystem for mobile gaming in India.

Nitish Mittersain, CEO, Nazara Technologies said, “We are excited to announce HashCube as the first investment from our Game Fund. We think highly of the HashCube team and are committed to extending our capabilities and networks to help them scale effectively. The mobile gaming ecosystem in India is at an inflection point spurred by strong smartphone penetration and enhanced data networks. Through our Game Fund we look forward to supporting young gaming studios and entrepreneurs that are creating engaging content for millions of users on the mobile platform.”

Nazara will work closely with Hashcube in guiding them while developing the upcoming games in their Quest mobile game series, the first of which was Sudoku Quest. Additionally, Nazara will also deploy its distribution networks to market these games globally.

Deepan Chakravarthy, Founder, HashCube said, “We are excited to work with Nazara Technologies not just as an investor, but as a strategic partner. Nazara’s expertise in developing and distributing games to a global audience will be a great asset for us. Nitish is a pioneer in the Indian Gaming Industry and we are excited to work with Nitish and the Nazara team for our upcoming Quest games. We want to use this round of investment to grow our team and build more Quest games.”

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