Nazara Technologies has announced its first investment from the seed fund it had set up earlier this year for start-up gaming companies. The lucky ones are Bangalore based gaming company HashCube Technologies.
Along with San Francisco based entrepreneur Perry LaForge, ah! Ventures, the angel network of Club ah!, Nazara invested a massive Rs 4.2 crore fund.
HashCube Technologies founded in 2008 by Ramprasad Rajendran and Deepan Chakravarthy. The company has three games across various platforms with Sudoku Quest being one of the most monetised Sudoku game in the world.
Prior to the Nazara investment, HashCube had raised investments from Indian Angel Network and Blume Ventures in July 2012. These companies were also in the round for investments this time around.
“The team understood how to develop and monetise games on freemium model. Not many have that skill set right now,” said Nazara CEO Nitish Mittersain speaking to Economic Times, which plans to invest in 6-8 other gaming start-ups with the seed fund.
The Mumbai based tech firm will help HashCube leverage its presence across Africa, Middle East and south-east Asia and help deploy its distribution networks to market its games globally.
HashCube’s Chakravarthy added: “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.”
